Sinclair: Europe to repatriate their gold as global qe3 begins

pmbug · Jan 20, 2012

...
I would say that when we go to QE3, in the US in 2012, that could accelerate the call for delivery on gold from the New York Fed. It’s exactly what will happen. You see it already in the European press. Accepted media, which is main media over there (in Europe), is discussing it....

That begins to show something that has a great deal more to it than the political motivation of (Venezuela President Hugo) Chavez, who knows very well that leaving his gold with people he calls ‘enemy’ is not the brightest idea in the world. The New York Fed will give back the gold because of the ramifications of not doing it.”

When asked about the calls to provide liquidity to the financial system, Sinclair responded, “We live in a global world, transferred into a global economy, and the only central bank able to create that kind of volume of money, out of thin air, legally, is the New York Fed. QE3 will be global and the Fed is the lender of last resort, not only to its members and the national banking community, but to the entire Western world.

Gold’s bull market in 2012 is a guaranteed event as a product of the fact that central banks have no tool in their tool box other than moving, now, from national to global QE. It’s a done deal."

http://kingworldnews.com/kingworldn...e_Will_Be_a_Run_on_Gold_Stored_in_the_US.html

If the Germans repatriate their gold, things could get very interesting.

DSAbug · Jan 20, 2012

I'm not sure if the game is quite over yet. It still seems like it's in everyone's best interest to keep the charade going longer. If they do start pulling their gold, I could see others following suit.. I guess we just wait to see who in Europe blinks first.

Shelby-villian · Jan 20, 2012

Haha, like the Fed would actually give up gold to whoever asks for it. Chance of WWIII > chance of all foreign gold going back to their respective countries.

Federal Reserve is like the MFGlobal of central banks. When the ponzi scheme collapses, the players have no chance vs. the bank.

cshawcuk · Jan 20, 2012

The whole gold in the fed thing is a mystery i was told the Germans already repatriated their gold,is there any gold in fort Knox?...has it not already been leased,fleeced,and proportionally reserved into the fiat ponzi scheme?
Ron Paul wanted to find out ...it's a state secret..one thing we do know de Gaulle sent a destroyer in 1969 so la France has hers.

DoChenRollingBearing · Jan 20, 2012

My "Trail Guide" FOFOA doubts the conspiracy theories re gold (No gold at Ft. Knox! Etc.).

My GUESS is that the Germans (or whoever goes first) will get their gold from the Fed vault in NYC. Unless that gold is collateral for old WWII loans or whatever.

But, if the Europeans start taking their gold "en masse", I believe they would get it (barring any encumbered gold), but that YES, that would mean that things would indeed start getting interested...

Then we could confidently say: SJGR!

ancona · Jan 20, 2012

DoChen,
I doubt we will ever repatriate any of the European gold held in US vaults. We will do whatever we have to to keep it. My guess is that it has all been leased or sold. I wonder how much of it got "destroyed" in the WTC disaster? No, I rather think that we'll hold on to it for now.

rblong2us · Jan 20, 2012

Is it possible to audit the worlds gold ?

who could be trusted to verify (and assay) all the gold that is claimed to be in acredited vaults
and how could they stop it moving to the smelters overnight after they had counted it ...

Its something that i ponder as i try to envisage how we could move to a 'backed' currency.

The best liars and cheats would benefit the most ..... nothing changes

ancona · Jan 20, 2012

Rblong,
I trust no one to audit the gold. No one exists on the planet with the exception of Dr. Paul, who would not have some loyalty or another to get in the way.

In addition, a clever and devious nation would simply plate a bunch of tungsten and call it gold, thereby providing fuel for more fiat. They are all thieving liars that must be purged.

As long as we are bent upon "spreading democracy" through conquest and warfare, we will never advance as a civilization. In addition, as long as the idea of "majority rule" is ingrained in this system, we are terminally doomed, much like Kalifornia and their recall and referendum system. All it takes to throw a wrench in any given system there is five thousand nut-jobs signing a petition. In the case of California, it is minority rule. It has become a complete and total sumsumation of the system this Republic was founded upon.

I weep for my grandchildren.

DoChenRollingBearing · Jan 20, 2012

@ rblong2us and ancona,

Yes, both of you are right. I cannot see that anyone would audit the world's gold. We can't even get OURS audited (except if you believe the auditors authorized by Congress -- the Bearing rolls into terrain now he knows little about).

I also agree there would be many, many problems even if we got the rest of the world to agree. Liars. Tungsten. Who owns it / lent out?

And then there would have to be a "Standardized Audit" (everyone has it done the same way), or comparing figures may be no good.

Who's got it? Where is it? WhITFG?

rblong2us · Jan 21, 2012

Do Chen and Ancona, you confirm my point.

So if its not possible to quantify, how can it be used to back any new currency ?

ancona · Jan 21, 2012

It can't back a currency for the reasons given, therefore it will have to be the new currency.

In hte case of gold, it could be as simple as putting a tiny bit in the cxenter of a base metal coin, and in the case of silver, it would merely be coins made from silver. Perhaps we could even use 10 -20 - 30 et. percent total purity so the coins could be large enough to be useable.

rblong2us · Jan 21, 2012

ancona said:
It can't back a currency for the reasons given, therefore it will have to be the new currency.

No electronic transactions ?

Wheelbarrows required for house purchases ?

Dont see this as a sloution for means of exchange ......

DSAbug · Jan 22, 2012

When you can buy a house for 10 gold coins, why would you need a wheelbarrow?

ancona · Jan 22, 2012

Or, you could simply squat in it. Since no one is giving credit to you unless you're 775+, nothing is selling. With the exception of vulture firms buying for pennies on the dollar and doing "rent to own" deals, because no one can get a loan, our area is a sales desert.

rblong2us · Jan 22, 2012

dereksatkinson said:
When you can buy a house for 10 gold coins, why would you need a wheelbarrow?

In a simple world this would be the case and people still occasionally pay in cash for large items, in spite of govs best efforts.

However world commerce has become so used to electronic transaction that it will surely be necessary to continue this.

Which takes us right back to the beginning, when bankers held their clients gold and wrote notes against it .... then wrote some more ......

pmbug · Mar 29, 2012

Bump...

Some of gold's friends in Europe have started a campaign called "Repatriate Our Gold" to persuade all nations to call their gold reserves home from custodial nations and banks that do not have the owners' interests at heart. Repatriating reserves of the monetary metal is a prerequisite of regaining national sovereignty and liberating the world's currency markets. GATA's executive officers are among the initiators of the campaign and we urge all our friends to learn about it here:

http://www.gold-action.de/campaign.html

And to become part of it here:

http://www.gold-action.de/action-sign-up.html

http://gata.org/node/11186

mike · Mar 30, 2012

I read a comment somewhere (possibly here) that all the WWII axis countries signed a treaty that the US would hold their gold until the end of time. Does anyone know anything about that? I can't find anything on the interwebs to support that claim.

Sinclair: Europe to repatriate their gold as global qe3 begins

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