Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults
NSNBC International – DR. LONG XINMING (4M) – Apr 18, 2013
The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.
The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.
Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.
They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.
Go to story
Chinese Gold & Silver Exchange Society Runs Out of Gold
libertyblitzkrieg – MICHAEL KRIEGER – Apr 19, 2013
Importing from Switzerland and London – Hong Kong’s century old Chinese Gold and Silver Exchange has reportedly almost run out of gold bullion at these price levels and is waiting for imports to come on Wednesday of next week from Switzerland and London. Go to story
Gold was smashed to hide delivery failure, Sinclair says
GATA – CHRIS POWELL – Apr 19, 2013
Mining entrepreneur and gold trader Jim Sinclair today tells King World News that the price of gold on commodity exchanges was smashed to conceal the inability of exchanges to deliver, that bank depositors in the United States are going to get the Cyprus treatment, and that the price of gold is going to have more zeroes behind it than anyone expects. Go to story
excerpt from garden conversation, New Vrindaban, June 22, 1976:
If you say, “No, I don’t want paper. Give me gold dollar,” then you are finished. Your currency will be finished. Immediately there will be revolution, that “The government is cheating us.” Actually it is cheating. What is the proof, value, of this paper, little paper? Simply “I promise to pay, governor and this…” But it is on trust only: “Yes, government will pay me.” They’ll never pay, but so long the government goes on, it will go on, that’s all, cheating will go on. And as soon government fails, you throw in the street, no one will care for it. It has been practically proved in the last war, in Germany. There was scarcity of food, and those who had bunch of currency notes, they went for one piece of bread, so many thousand marks, “Give me.” Nobody supplied. So the paper has no value, but if we believe, it has value, that’s all. Otherwise what is the meaning of this paper, one thousand dollars?
