Of Gold: The German BUNDESBANK as a Liar!

[jakaswanga]

The Comedy run at the German Central Bank

Let us start in Africa, because it was Nubian gold which which underwrote the ancient Egyptian Pharaonic civilisation.

What, pray tell, happened to the Gadaffi hoard of Libyan Gold? Was it secretly impounded and melted to Europe, to cool firing nerves, to buy the EURO some time?

Libyan leader Muammer Gaddafi is reportedly sitting on a 143.8-tonne $6.4-billion pot of gold - enough to pay mercenaries to fight for him for years.
The gold bullion - held by the Libyan central bank and controlled by Colonel Gaddafi - is among the 25 largest reserves in the world, the Financial Times reported, citing the International Monetary Fund.
If a country like Libya wants to make their gold liquid it would probably be in the form of a swap – whether for arms, food or cash 
They provide the 68-year-old Libyan strongman a lifeline after billions of assets held offshore were frozen by the United States and the 27 member states of the European Union.

Mank, could you please differentiate FREEZE from STEAL in this aspect?

Yes, Moamar Gaddaffi died like a dog, and Libyan gold has disappeared. And believe it or not, this dog wanted to use Libyan Gold and Oil to underwrite a new pan-Afric currency, the Golden Dinar.



as below



Yes, that kind of dog. There is something about Gaddafi's killing that must come back to haunt us all, you know, like that Lumumba murder came back with a vengeance at a Mubutu-cherising Congo.

That was the Intro:

Now, let us talk about those who are not anybody's running dog, them aces who run the Bundesbank and other such FED franchises.

THE MOTHER OF ALL BANK RUNS, but why?

FIRST: A long, long time ago,before thing came to a head ..

'Grotesque Debate'
… German central bankers have contented themselves with written affirmations from their American colleagues that the gold still remains where it is said to be stored. According to the report, the bar list from New York stems from "1979/1980."
The report also noted that the Federal Reserve Bank of New York refuses to allow the gold's owners to view their own reserves.
Not surprisingly, this prompted strong reactions in Berlin: The relevant Bundesbank board member Carl-Ludwig Thiele was summoned to Berlin to provide an explanation to the parliamentary budget committee. Heinz-Peter Haustein of the business-friendly Free Democratic Party (FDP) was even uoted by Germany's mass-circulation Bild newspaper as saying that "all the gold has to be shipped back."

Let me insert it here too. The biggest clue in an obscure thread in an obscure blog. –-the not much reported bank run! No, not the one at the Greek Central Bank whih has now left Syriza's Alexei Tsipras high and dry; nor on the Kenyan central bank which is shaking the shilling; nor the Ukrainian one which has paperised the hrivna; but on the (wait for it) FED of all banks. And it is a golden Bank run. –---Another sequel in the comedy of western central banks and reserve currencies under pressure!

EU GREATS WANT THEIR GOLD PHYSICALLY REPATTRIATED FROM THE USA

Germany, the Netherlands, France, Belgium and Austria have all asked for their gold officially. They want to diversify where it is kept, and do most of the keeping themselves, even if within reach of the Russian bear, should Ivan be minded to make a pawy dash across the historical killing fields of Middle Europe. It comes that, under sustained public pressure, but possibly too, in case of a Neuro launch should the Euro sink, the issue can no longer be ignored and men of responsibility have to act one way or another, even cook up stories. But apparently the words of central bankers without any physical back-up no longer hold currency. It has been a painful outing for some.

Are these European high priests of finance genuinely late –-that is most if not all the fortune is already squandered by the Americans without their knowledge? or are they willing scammers and cheats, these central bankers of Europe and beyond: demanding a gold haul they know no longer exists in the vaults of the FED where it is supposedly kept?

Of course there always were rumours German officials were prevented from verifying in real time the tonnage of their bullion –-AND we are not talking the old Hjalmar Schacht anecdote above.

Boehringer cites an anecdote from almost a century ago to argue that Germany has failed to zealously protect its gold holdings. In the 1920s the president of the German central bank, Hjalmar Schacht, paid a visit to the New York Fed and its founding president, Benjamin Strong. In an episode recounted in his 1955 autobiography, Schacht wrote, “Strong was proud to be able to show us the vaults which were situated in the deepest cellar of the building and remarked: ‘Now, Herr Schacht, you shall see where the Reichsbank gold is kept.’ ”

But then when an authentic report stated ...[/i]

that the Federal Reserve Bank of New York refuses to allow the gold's owners to view their own reserves...

it sounded like the siren of an imminent air raid.

PANIC

Not surprisingly, this prompted strong reactions in Berlin: The relevant Bundesbank board member Carl-Ludwig Thiele was summoned to Berlin to provide an explanation to the parliamentary budget committee
–--------------------
Why Germany Wants to See its US Gold

By Sven Böll and Anne Seith

For decades, almost half of Germany's gold has been stored deep below the Federal Reserve Bank of New York. Now, with the euro crisis swirling, German politicians are asking their central bankers to take stock of the reserves. Some even say that the gold should be shipped home.

If you remember the film Goldfinger, the plan to rob FORT KNOX where all the World's Gold is stored, some do suspect Uncle Sam has been fingering their gold where they left it for safe-keeping! And good old James Bond has not been around to stop thief! Actually yes, the FED is the World's Golden Banker, since the 2nd world war, and what a coincidence that coincides with the emergence of the USA, the Western Victor, as the financial Kingpin of the world.

Gold custody is one of several financial services the Federal Reserve Bank of New York provides to central banks, governments and official international organizations on behalf of the Federal Reserve System.
….....
Much of the gold in the vault arrived during and after World War II as many countries wanted to store their gold reserves in a safe location. Holdings in the gold vault continued to increase and peaked in 1973, shortly after the United States suspended convertibility of dollars into gold for foreign governments. At its peak, the vault contained over 12,000 tons of monetary gold. Since that time, gold deposit and withdrawal activity has slowed and the vault has experienced a gradual but steady decline in overall holdings. However, the vault today remains the world’s largest known depository of monetary gold.
As of 2012, the vault housed approximately 530,000 gold bars, with a combined weight of approximately 6,700 tons. The vault is able to support this weight because it rests on the bedrock of Manhattan Island, 80 feet below street level and 50 feet below sea level.

They used to say a Ceasar's wife must be above reproach. And a gentleman must be worth his word in Gold. And honour is everything. Still, thinking of the rise of the discipline ACCOUNTING (from Book-keeping which is verification), it would appear TRUST is not helpful in money. And it is prudent not to take ones word for it. But more still, we humans are a feeling species: we fall in love, and without trust, we are mentally sick. The disease is called PARANOIA. Our society couldn't work without a bit of trust. A trust that shall be abused repetitively –--by politicians and bankers!

CONTINUED @ PT2:

[jakaswanga]

PART 2: BACK TO THE GOLD STANDARD?

There are these folklorish stories of old Africa which feature animals. You know, like the Chineke the bird series. There is the city Chineke which, every time one of those fuel-guzzling SUV's crawling Nigerian cities passes by, quips and chirps a question: 'how did you buy that car sir? is that not the peoples money sir, which you stole sir!?

When one is chasing a hen in the countrysides to kill it for a meal, the knife-marked hen has a habit of loudly protesting and giving it its best runs. One then solicits neighbouring children to help in the chase. And the hen quacks and quacks until its sharp fate is met. In Burundi I am now told every time a hen is quacking and running, fleeing from a predator for instance, children and onlookers burst spontaneously into a chant: No THIRD TERM! NO THIRD TERM! PIERRE NO THIRD TERM. --Not sure what it means, but I will ask, and sure I will be told.

So let me be the Chineke for you guys on the Libyan Gold:

Where is the Libyan gold, Obama? where is the Libyan gold, Angela?
where is the Libyan gold, David? --And you Hollande, did Zarkozy loot Tripoli? and all those young Africans dying in the Mediterranean want, is just their gold, and futures which NATO stole, and now you keep booty?

WHY IS GOLD SUDDENLY HOT IN EURO-BANKING LAND?

A graph of trust can vary.

Why Germany wants its 674 tons of gold back

The system, of course, is built upon trust -- that the New York Fed won’t suddenly be taken over by people with no respect for those nations’ property rights and seize it for their own use, and that the central banks won’t lie about how much gold is in their vaults. Among the world’s central bankers, that trust runs deep, and most governments are content to keep their gold wherever it is most convenient. The exceptions are governments that have reason to fear that their gold stocks could be frozen as part of a conflict, such as in Iran and Libya.

So what the heck is Germany doing? It is a nation with a deep-seated fears about the stability of its currency, no doubt in part the legacy of the Weimar hyperinflation of the early 1920s. The fixation on its gold comes at a time when the world of finance seems in chaos. Germans are being asked to help rescue Greece and other European nations with troubled finances
www.washingtonpost.com/blogs/wonkblog/wp/2013/01/16/why-germany-wants-its-674-tons-of-gold-back/

yes, there has been a banking crisis, which became a cultural crisis, and it has been studied in films like WALL STREET, THE bonfire of Vanities, and the cult famous MARGIN CALL featuring Jeremy Irons and Kevin Spacey. They may be fiction, but the Banking crisis has not been fiction. The criminal greed, hubris, psychopathic instincts and immorality of Big Bankers is the rule rather than the exception. And a central banker is actually a banker. The most are recruited from that very same cesspool of piranhas.
So you have a popular crisis of confidence. To trust or not the word of a villainous species? A handshake with a rattlesnake based on the assurances of the snake's look-alike? Hmmm.
And bitten, like misers some Germans wanted a real physical count, one which would be meticulous, , microscopic, x-raying the rods (or using whatever the latest laser technology) to verify it was all pure gold. But the Bundesbank started stalling. A dangerous move as it only made the German public more alarmed. So grassroots upswell forced political action.

Peter Gauweiler, of the conservative Bavarian party Christian Social Union, has been pestering the government and the Bundesbank with questions concerning where and how the country's reserves are stored, and how often they are checked. He has submitted requests and commissioned reports on the topic.

And so the Bundesbank would have to lie.
Remember this is an institution with pride and a reputation to guard. ArguablY the best-led, most competent central bank in the world. If Mercedez Benz is the leading high-tech quality car-maker (you only buy Toyota because you can not afford the best in the market), then the Bundesbank is something similar, which is why the D-Mark was imposed as the blueprint for the Euro.
But this crisis has been bad, and no reputations are safe.

On one hand, insuring and transporting a few tones of gold across the Atlantic was proving a logistical task beyond the scope of a technological super power like Germany. On the other hand, may be just Al-Qaida could hijack the transport so it has to be all a hush-hush affair. Now be a patriot and shut up. But Behold, when professors of Metallurgy like Angela Merkel and whiz-kid econometrists like Jens Weidmann start telling you those kind of goat-ate-my hair (or kaka mbweha stories as Mwalimumkuu would have it), you know the system is taking in water, and is not far from an SOS for May Day.
Here is how some followed the story.

www.sprottmoney.com/news/secret-gold-repatriation-the-banksters-newest-bullion-scam-bullion-bulls-canada-sprott-money-news?mw_aref=d0d00a311961371d69bcc0f5d530833e

Then we had the strange case of the Netherlands’s “successful” repatriation effort. What made it “strange”? Primarily, it was the fact that it was done in secret. What was also strange (given Germany’s prior failure) is that the Netherlands got all its gold (more or less) in ‘one gulp’, in a process which – we are told – took only a few weeks.
Despite the cloak-and-dagger nature of this gold “operation”; most were inclined to accept this “secret gold repatriation” at face value. The reason for this is that it was considered quid pro quo: a reward for the complicity of the Netherlands government in the “MH-17” cover-up. However, suddenly, we must now question whether this entire episode was simply more of the One Bank’s disinformation.
What has changed here – suddenly – is the “breaking news” (also covered at Zero Hedge) that now, supposedly, Germany’s government has been able to secretly, successfully “repatriate” a large quantity of its own gold, the same gold which it was totally unable to obtain via an open, public process.

Politicians lie with ease. We even expect them to, daily. Well, lying GERMAN central bankers are a different piece of cake. Italians and Greeks, and even the French Central Bankers, we have been lectured by the likes of Wolfgang Schauble, and we know from their falsification of statistics to join the Eurozone, are a substandard species like their counterparts the other side of the Mediterranean sea, so they have neither reputation nor honour to loose! But a lying Bundesbank!? That is Germany exporting junk cars! Unthinkable!
Is the Euro a paper-tiger? Or soon to be one? Splitting into a Neurozone and a Zeurozone where the likes of Hellas shall languish? So that the core countries must have and hold their gold, fondle their haul with their hands in their unders, safe like their own private parts whenever they like, for reassurance in private.

Of course Europeans PUBLICLY demanding to audit their gold reserves held in America, is in itself is an escalation out of control. It means intense dissatisfaction with the American refusal to grant Germany her physical audits. The American refusal is best explained by there is no gold to be audited. That was when the rest of the Neurozone, alarmed, decided to put in requests for their own bullion too. (Some insist it was the Russians who called the bluff of the ECB when the Eurozone declared sanctions on Russia post Maidan crisis, and the ECB joined the USA in its currency war against the Rouble. Knowing of ECB plans to start making money out of thin air, QE, the Russians politely inquired if her gas bills to the EU could henceforth be paid in a more valuable form, eg Gold. Others say Nyet, it is the rumours that the FED was manipulating the price of Gold using the world reserves in her vaults that set the ball in motion).

Meanwhile Fort Frankfurt was still keeping curious Germans of hold.

4. Transparency: Bundesbank has (again!) not given ANY proof for an actual transport from the US or France to Frankfurt. As already in 2013, Bundesbank has again melted down and recast the bulk of the Fed-bars for no obvious/plausible reason and without any witnesses! As in 2013 – "for safety reasons" we-the-owners are not entitled to even see BAR LISTS of (now destroyed) former US Fed bars nor lists of newly cast bars now in Frankfurt…
kingworldnews.com/serious-questions-surround-germanys-alleged-repatriation-120-tonnes-gold/

The gold was brought back due to public pressure. But there is no verifiable evidence on earth that it was brought back from New York to Frankfurt. And no sooner was it brought back than it was melted, neither witness nor proof available! Ha Ha He He? Is that not the Nigerian Central Bank before Buhari? Or indeed Mobutu's Zaire? –--take the President's word for it, or go jump in the Congo river!


Jens Weidmann, chair of Bundesbank, now a ''teller of fairy tales''

And here is Jens's ''portrait of Dorian Gray convertible'' Godwin Emefiele, appointed by ex-president Goodluck Jonathan to lead the NCB to the Zenith of corruption. Buhari ata do?


and who is that girl: she ran as Africa's candidate to head the World Bank.
(Ngozi Okonjo-Iweala)



Well, -this is why I got a look for economists like BiL Mank. Biblic pundits tell me Jesus is the son of God, and the conception was what it was, divine. You do not hear me demanding a GENOTYPE of the son of God, to verify a Chromosomal count! I can live with Biblic pundits. But now Central bankers too want me to live with their words! Men I got tremendous difficulties with this proposal! I admit I only do so because there is a bayonet popokingy throat, and my mind is paralysed in fear.
The moment I gain my wits I say BOOOOH! Mobutu Sese Seko! Like all Congolese could find room to hide under the span his wings, Mobutu the co.ck of the jungle, so too can all European economies find sanctuary in the econometric nest of the Bundesbank! Gold or no gold!
I believe in miracles. That the Greeks can not perform a 'wirtschaftswunder' to get out of their current dip –-with German's running the show, has made me very nervous. (Some miracles can not be repeated?)

Where Is Germany's Gold?

Almost half of Germany’s gold is stored in vaults under the streets of Manhattan. Or is it?
February 5, 2015 --by Vernon Silver

Almost half of Germany’s gold resides at 33 Liberty St., the headquarters of the Federal Reserve Bank of New York, 80 feet below street level in a vault that sits on Manhattan’s bedrock. In 2012, Boehringer started a campaign on his blog to bring it home. He argued the gold should be shipped to the German central bank in Frankfurt. The hoard, amassed during Germany’s post-war boom, had never been subject to a published bar-by-bar physical review by its owners.

That lack of accounting had become an insatiable itch for Boehringer. As the volunteer chairman of a private storage company for silver and gold investors based in Gerstetten, Germany, Boehringer personally counts the holdings each year by lugging metal valued at some €140 million ($161 million) from one end of the vault to the other, just to make sure it’s all there.

His blog became a hub for precious-metal fans. As gold prices peaked in 2011, the Taxpayers Association of Europe asked him to draft a letter to the Deutsche Bundesbank seeking to know precisely where the central bank’s gold was. He eagerly agreed to help the group, which advocates for lower taxes and serves as an umbrella for 29 national associations across the continent. After receiving a response that wasn’t detailed enough to satisfy him, Boehringer pressed on, starting the “Repatriate Our Gold” campaign in February 2012. He conceded it had low odds of success. Gold bugs largely inhabit the fringes of finance, and some of their apocalyptic arguments for investing had begun to show cracks as gold prices slid. Opponents including bankers and journalists branded Boehringer a conspiracy theorist for even suggesting something was amiss at the core of global finance. Then the seemingly impossible happened: He started to win.

www.bloomberg.com/news/features/2015-02-05/germany-s-gold-repatriation-activist-peter-boehringer-gets-results

lEAding bankers and journalists branded Boehringer a paranoid marginal figure for even daring to think the famous German Gold Hoard in America could be a fiction!? ---yawa, where did all the honest men go!? which dog is it, that devoured the honour of modern man, especially him who has power and influence!?

end part 2.
Dammn!