Germany's gold in New York : US refuse the audit

[Raidenx]

I've read the Bild before.

Am I the only one aware that it's their version of the National Enquirer?

But the gold really is gone.

This has been known for awhile, and the fact that everyone in washington aside from people like Ron Paul, Alan Grayson, and Dennis Kucinich are hell bent on keeping it under wraps

[Roose]

For what it is worth, the bottom links right to CNBC.

[ChrisKoe]

1500 tons at 1700$ per oz is something you should be interested in

It actually isn't.

Currencies are just some fancily printed pieces of paper (or cotton, actually). The actual worth behind a currency is not measured in gold reserves somewhere in the world but in the trust we put in those who hand out these notes. It's a social contract.

[Morogoth]

It actually isn't.

Currencies are just some fancily printed pieces of paper (or cotton, actually). The actual worth behind a currency is not measured in gold reserves somewhere in the world but in the trust we put in those who hand out these notes. It's a social contract.

Yeah I understand. But if the US dollar drop too much, you will need those gold reserves.

[ChrisKoe]

Yeah I understand. But if the US dollar drop too much, you will need those gold reserves.

To do what? Convince people to give me food because I have heaps of shiny metal?

The global economy is a very fragile thing. The most important thing we have is trustworthiness.

[Jackmoves]

Yeah I understand. But if the US dollar drop too much, you will need those gold reserves.

Things will turn really ugly the moment big nations like Germany start to mistrust the $.

[Morogoth]

To do what? Convince people to give me food because I have heaps of shiny metal?

The global economy is a very fragile thing. The most important thing we have is trustworthiness.

It's true, actually 90 billions is not so much.

You talk about trust and this is exactly why I made this thread. Germany trusted the FED to keep 1500 tons of gold safe in their high tech facility. Now there is no gold and it could be possible that the FED painted some tungsten lingots to pass the audit. After the banks bailouts in 2008, I'm worried.

[Laize]

But the gold really is gone.

This has been known for awhile, and the fact that everyone in washington aside from people like Ron Paul, Alan Grayson, and Dennis Kucinich are hell bent on keeping it under wraps

Do you have any evidence to support that conclusion?

[Morogoth]

Things will turn really ugly the moment big nations like Germany start to mistrust the $.

Yes, Germany is a huge nation. Rich, strong and educated.

[Raidenx]

http://forums.liveleak.com/showthread.php?t=81393

---------- Post added 2012-11-12 at 02:24 AM ----------

http://www.marketoracle.co.uk/Article14996.html

[Jackmoves]

Yes, Germany is a huge nation. Rich, strong and educated.

Well it is pretty big, not sure if you are ironic or what? :P

[Morogoth]

Well it is pretty big, not sure if you are ironic or what? :P

No it's true, I was not making jokes. Germany is a great nation.

[Laize]

Here are the facts I've found so far with some Googling.

- The Bundesbank wasn't ordered to audit the gold. The BOE only has advisory power over them.

- The NY Fed didn't deny the Germans an audit of their gold

- The Fed is complying with the repatriation of 150 tons of gold over 3 years.

So what, exactly, is the problem?

Where are people getting the idea that the gold is fake/not there? What proof does anyone have? Proof? How about a SHRED of evidence?

[Morogoth]

http://forums.liveleak.com/showthread.php?t=81393

---------- Post added 2012-11-12 at 02:24 AM ----------

http://www.marketoracle.co.uk/Article14996.html

"If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it."

ishhhh

[dranx]

No it's true, I was not making jokes. Germany is a great nation.

Are you from Germany yourself? If so, that would explain this thread.

[Morogoth]

Here are the facts I've found so far with some Googling.

- The Bundesbank wasn't ordered to audit the gold. The BOE only has advisory power over them.

- The NY Fed didn't deny the Germans an audit of their gold

- The Fed is complying with the repatriation of 150 tons of gold over 3 years.

So what, exactly, is the problem?

Where are people getting the idea that the gold is fake/not there? What proof does anyone have? Proof? How about a SHRED of evidence?

"The Fed has reportedly denied German requests to view their own gold reserves, ‘in the interest of security’:
Tourists are allowed to venture below street level to see the vault. After descending in an elevator, they stand in front of an enormous steel cylinder that pivots like a door in a 140-ton steel-and-concrete frame. But not even the owners are allowed to view their own gold. According to the Federal Audit Office report, the Fed explained that “in the interest of security and of the control process” no “viewings” are possible."

---------- Post added 2012-11-12 at 02:37 AM ----------

Are you from Germany yourself? If so, that would explain this thread.

I'm a Canadian.

[Obamatheone]

It's true, actually 90 billions is not so much.

You talk about trust and this is exactly why I made this thread. Germany trusted the FED to keep 1500 tons of gold safe in their high tech facility. Now there is no gold and it could be possible that the FED painted some tungsten lingots to pass the audit. After the banks bailouts in 2008, I'm worried.

You keep saying the gold is gone, but what proof is there of that? None.

Also, assuming its missing, then where in the hell did it go? Its not like obama uses gold bars to pay for gas for his lemo.

[Draeblin]

Well germany wants parts of its gold and it will be melted and then analyzed, so we will now if it's tungsten ;)
Yes there were lots of articles about this in the last weeks (not much anymore now) but nothing indicated that there were problems.

[Obamatheone]

"The Fed has reportedly denied German requests to view their own gold reserves, ‘in the interest of security’:
Tourists are allowed to venture below street level to see the vault. After descending in an elevator, they stand in front of an enormous steel cylinder that pivots like a door in a 140-ton steel-and-concrete frame. But not even the owners are allowed to view their own gold. According to the Federal Audit Office report, the Fed explained that “in the interest of security and of the control process” no “viewings” are possible."

---------- Post added 2012-11-12 at 02:37 AM ----------



I'm a Canadian.

Haha, I am pretty sure they could come on the tour as well if they wanted, but I am pretty sure they were talking about something different.

[Morogoth]

You keep saying the gold is gone, but what proof is there of that? None.

Also, assuming its missing, then where in the hell did it go? Its not like obama uses gold bars to pay for gas for his lemo.

I'm not a german auditor so I will never be sure. I think that the drama is enough to make a thread about it.