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Author: goldcountry Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 461029  
Subject: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 1:06 PM
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http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...


James Turk - Germany’s Gold Is Being Held Hostage
January 17, 2013


Today James Turk told King World News that the German gold is being held hostage by the Fed. Turk also believes that one portion of the Bundesbank’s press release was particularly misleading. Turk reveals the reality of what is taking place with Germany’s gold, and it’s not what the mainstream media and the Bundesbank are telling people.

Here is what Turk had to say in this extraordinary interview: “It’s quite clear that the German gold is being held hostage. They are not getting what they want. They are getting what the Federal Reserve is telling them they can have. The fact that they are doing it over 7 years rather than 7 weeks, is just an indication that gold probably isn’t in the Federal Reserve, and the Federal Reserve doesn’t want to have to go out and buy it overnight to fulfill the German demand. They are trying to stretch it out as long as possible in order to keep gold prices controlled.”

“I mean you can do 5 tons at a time on an airplane shipment. A few hundred shipments and you can have that (1,536 tons of) gold back (in Germany) in a matter of weeks. The only possible conclusion you can make is the gold isn’t there.

You can do what France did back in the 1960s....

“You send over a couple of ships and bring the gold back to your country that way.

When Charles de Gaulle asked for his gold out of the Federal Reserve, it didn’t take 7 years. He got it right away. But back then the gold was in the Federal Reserve because it wasn’t going out in the leasing and lending program that governments have been using in recent years in order to keep the gold price suppressed.

Recently, the Audit Committee of the Bundestag (their parliament), has been requesting that the Bundesbank actually audit the gold because it has never been audited, and presumably is never going to be audited. So the Bundesbank is in a tough spot. The gold is not there, but they have the pressure to audit it and bring it back home.

The fact that they (Fed) are not sending the gold back right away, to me is just a clear sign the German gold is being held hostage. It’s potentially a powder keg here in terms of how the gold market is positioned at the moment because there is so much paper (claims on gold) out there, relative to so little physical, that a lot of paper gold is going to be defaulted upon.

It will be interesting to see whether this leads to other central banks also asking for their physical gold. And more importantly, since there are so many paper (claims on gold) in the various gold ETFs around the world, it will be interesting to see whether the institutional investors are starting to recognize what the central banks are doing, and take some of that GLD and all of the other ETF paper and start saying, ‘Look, I don’t want shares, I actually want ounces. Deliver me the physical metal.’


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Author: DoLoop Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413667 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 1:17 PM
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OK - assuming all this is true, what effect will it have on the price of gold?

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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413673 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 2:53 PM
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OK - assuming all this is true, what effect will it have on the price of gold?


Would that be Paper or Physical?


**** Absolutely not signed ****

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413675 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 3:01 PM
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OK - assuming all this is true, what effect will it have on the price of gold?

"Gold? We don't need to show no stinkin' gold!"

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Author: Hawkwin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413678 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 3:17 PM
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‘Look, I don’t want shares, I actually want ounces. Deliver me the physical metal.’

Does the prospectus of GLD allow you to request/claim physical delivery?

If not, you might be SOL, especially since GLD is a commodity and not likely covered by SIPC.

80% of all gold is held in GLD and it's various symbols through the world.

This article makes me think gold (as measured by GLD) might be at a signficant risk of a run and a large drop in NAV.

I am taking a look at the prospectus now to see about delivery...

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Author: Hawkwin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413679 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 3:33 PM
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I see nothing in the prospectus that would allow an investor to request physical delivery of GLD.

http://www.spdrgoldshares.com/media/GLD/file/SPDRGoldTrustPr...

As a footnote, after reading the prospectus, this ETF has a ton of risks that cause me concern.

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Author: tgrmn Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413680 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 3:48 PM
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Official Statement:

http://www.zerohedge.com/news/2013-01-16/bundesbank-official...

Circumstances:

http://www.zerohedge.com/news/germany-review-bundesbank-gold...

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Author: riprock45 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413684 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 4:24 PM
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what effect will it have on the price of gold?

Short term this would hammer the price of Gold ETF's. If investors start to fear that they are invested in something that isn't there, they will go into panic dump mode.

In a possible irony, the price of the metal itself might actually go up as investors sell their paper and buy the coins and ingots.

Rip, musing aloud

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Author: Hawkwin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413689 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 5:17 PM
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Per the prospectus, GLD has physical ownership of all the gold required to account for all the outstanding shares.

As at March 31, 2012, the Custodian held 41,366,147 ounces of gold on behalf of the Trust in its vault, 100%
of which is allocated gold in the form of London Good Delivery gold bars with a market value of
$68,771,219,436 (cost—$46,663,999,222) based on the London PM fix on March 31, 2012. Subcustodians
held nil ounces of gold in their vaults on behalf of the Trust.

As of April 25, 2012, 424,300,000 Shares were outstanding and
the estimated NAV per Share as determined by the Trust for
April 25, 2012, was $159.03.

--------

Dates vary slightly but the math still holds up.

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Author: goldcountry Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413695 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 6:34 PM
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As a footnote, after reading the prospectus, this ETF has a ton of risks that cause me concern.

That is exactly the point, GLD (or SLV) is not the same as physical thus a lot of institutional investors are dumping the ETFs for the real thing (the real physical metal).

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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413700 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 8:22 PM
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GLD (or SLV) is not the same as physical thus a lot of institutional investors are dumping the ETFs for the real thing (the real physical metal).

Besides miner shares, the only "paper" gold or silver I hold are with Sprott (PHYS and PSLV).

Here's what Sprott says about taking physical delivery on PHYS:

Unitholders will have the ability, on a monthly basis to redeem their units for physical gold bullion for a redemption price equal to 100% of the NAV of the redeemed units, less redemption and delivery expenses...

http://sprottphysicalbullion.com/sprott-physical-gold-trust/...

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Author: goldcountry Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413707 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/18/2013 11:45 PM
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I would consider PHYS, PSLV, and CEF almost as good as holding the physical metal due to their strict adherence to being allocated metal and verifiable right down to the serial numbers on the bars, I own all three, goldmoney.com is another way to go that might be even better.

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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413723 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 8:35 AM
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Forgive me, I know nothing about King World News except what I have learned the last 20 minutes poking around their website and related sites (or at least those which quote it extensively) around the web.

The gold Germany thinks it has at the Fed doesn't actually exist, is that right? Also, the gold in the vaults in Canada doesn't actually exist, or in dramatically short of what is claimed, is that right, too? Also Australia is fudging the books. And the various places where you buy gold but don't take delivery aren't actually storing the gold, they're just selling you pieces of paper so you think you own the metal, correct?

Likewise silver, in some places in a smaller scale, in some, larger. Do I have that right, too?

And, for instance, the reason Germany will repatriate the gold over 7 years can only be because it doesn't exist, so the Fed has to buy it slowly so as not to spook the market, right? There can't be another reason, like security, or construction of new secure facilities, or anything else, can there?

So there's a worldwide conspiracy between the various central banks, and a separate one among several gold stocks and ETF's which claim to have gold storage facilities but actually don't, right? And while King World News knows about this, nobody at the Washington Post or New York Times is even slightly interested in the story?

Makes perfect sense.

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Author: whafa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413725 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 9:02 AM
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And while King World News knows about this, nobody at the Washington Post or New York Times is even slightly interested in the story?


Obviously the Post and Times are complicit. I'm surprised you didn't make that connection.

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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413727 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 9:41 AM
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Also, the gold in the vaults in Canada doesn't actually exist, or in dramatically short of what is claimed, is that right, too?


Possibly, our finance minister is desperately trying to balance the budget before he has to face an election probably due in 2015. He also got his hands slapped by the ethics lady for what he claims is an oversight.... yeah right.


**** absolutely not signed ****

http://www.stabroeknews.com/2013/news/world/01/19/canada-fin...

Canada finance minister apologizes after reprimand

January 19, 2013 · By Stabroek staff ·

OTTAWA, (Reuters) – Canadian Finance Minister Jim Flaherty apologized yesterday for breaking ethics rules when he lobbied on behalf of a constituent who wanted to set up a radio station, and said it was an “oversight” that would not happen again.

Flaherty acted after Ethics Commissioner Mary Dawson told him on Thursday that he had been wrong to send regulators a letter in his capacity as finance minister, and formally ordered him to refrain from writing similar letters without her approval.

Her order is an embarrassment for a Conservative government that came to power in early 2006 promising greater accountability in politics.


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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413729 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 11:02 AM
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OK - assuming all this is true, what effect will it have on the price of gold?

http://www.youtube.com/watch?v=HC9yD8YqXYI

Desert (Up up and away!) Dave

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Author: goldcountry Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413740 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 12:30 PM
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So there's a worldwide conspiracy between the various central banks, and a separate one among several gold stocks and ETF's which claim to have gold storage facilities but actually don't, right? And while King World News knows about this, nobody at the Washington Post or New York Times is even slightly interested in the story?


I wouldn't call it a conspiracy, more like a coverup, something that has been known to happen on occasion.

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Author: rubberthinking Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413741 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 12:32 PM
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I wouldn't call it a conspiracy, more like a coverup, something that has been known to happen on occasion.

LMAO.......nothing changes.....

Dave

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Author: maracle Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413742 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 12:51 PM
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I wouldn't call it a conspiracy, more like a coverup, something that has been known to happen on occasion.

I heard 9/11 was an inside job and that the Sandy Hook killer was programmed by the CIA too.

It's the ONLY possible explanation!

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413743 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 1:04 PM
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GoofyHoofy

Knowing in advance that your questions are a form of ascribing unbelievability to one or two notions by making other unbelievable assertions, I will attempt to answer some of the points to illustrate how little weight this approach you've taken should be given.

The gold Germany thinks it has at the Fed doesn't actually exist, is that right?

The issue raised by those who are really looking for answers to that question is one of putting any questions to rest by having a full audit of the (alleged) gold reserves. There has not been an audit done of those reserves in over a half a century. Given the value involved, the lack of audits, and the nature of some politicians and some lobbyists and a lot of the financial industry over the last half-century, which would seem to be more implausible: that all of these actors adhered to strict ethical conduct (thus all the gold is still there and none of it leased or hypothecated); or that, perhaps, some measure of it has vanished? I would think the true skeptic would find most foolish the notion that it is all still there.

Also, the gold in the vaults in Canada doesn't actually exist, or in dramatically short of what is claimed, is that right, too?

This is a fine example of an assertion made to help build the case for the whole notion of missing gold being an absurdity. But it is an ignorant assertion. Any that have objectively followed the gold market for the period of the last dozen years would be aware that Canada has performed audits of their gold reserves. Several years ago their audit did show some discrepancies but those were explained, eventually, by a conclusion that some rounding errors over the years had just had a cumulative effect. While the cynics might think it a convenient answer, the overall tenor of the gold bulls was that of relief that at least one country was honest enough to have an audit and provide the results to the public.

Also Australia is fudging the books.

Interesting that you pick two countries with a pretty good record of open disclosure to bolster your original derision. Australia paid off its national debt a few years ago. Since then they have added to their debt somewhat in response to the world recession. I've seen no real criticism of Australia's handling of their fiscal issues nor their gold reserve accounting. But then, I've put more than 20 minutes into the understanding of the issues instead of arguing from a prejudicial point of view.

And the various places where you buy gold but don't take delivery aren't actually storing the gold, they're just selling you pieces of paper so you think you own the metal, correct?

Well, one would first ask, are you are buying the gold or buying the paper? Have you read the prospectus of GLD or SLV? I have. And have recommended to my clients that they find other methods of participating in the sector (some here have mentioned PHYS and CEF, both of which are far clearer in outlining the consumer safeguards they offer).

Are you suggesting that an investor who is skeptical of an entity which does not allow the auditing of the underlying asset or that does not hold itself responsible if said audits are performed and discrepancies uncovered, would be a safe place for responsible investors?

So there's a worldwide conspiracy between the various central banks, and a separate one among several gold stocks and ETF's which claim to have gold storage facilities but actually don't, right?

That central banks cooperate/collude on any number of issues is a matter of public notice and many reports, public and private. That publicly traded companies make claims that later are proven to be of no more substance than the morning mist are also matters of public record (Enron, Worldcom, MF Global, etc ad nauseum). That central banks have entered into agreements to sell gold are also of public record.

Whatever the answers one derives for themselves in an honest appraisal of the issues surrounding the currencies in use today, those who denigrate the actual process of questioning seem more like children whistling while walking past the graveyard on a dark cloudless night.

That all being said, are there sites which hype the more bizarre conspiracy theories? Sure there are....and they exist both for and against the issue of gold. Are some sites more clinical in their approach? Yes, there are those as well. But that has been so since the first communication and it has always fallen as a responsibility of each investor who attempts to exercise prudence to try to ferret out the few morsels of fact from the vast swell of bilge. For, in the end, when serious cataclysms occur in the financial arena the pundits and wags of such popularity yesterday, will be missing along with your money.

We have only ourselves to look to for how best to make our wealth and then how to preserve its purchasing power for at least one day longer than those we have left to us, so we don't outlive it.

Poz
(spending some excess internet time that is paid for, but unused, on an "at sea" day in the Caribbean on the Celebrity Equinox)

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Author: maracle Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413744 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 1:04 PM
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Ok, maybe a less flippant response is in order. The article, while an obviously crazy conspiracy theory, pretty much disproves itself:

I mean you can do 5 tons at a time on an airplane shipment. A few hundred shipments and you can have that (1,536 tons of) gold back (in Germany) in a matter of weeks.

So at 5 tons per flight there will need to be 308 flights to repatriate their gold.

To do that in 7 weeks would be 43 flights per week! Assume a single crew could do a maximum of 2 runs per week...I mean this would be the maximum for just moving passengers, much less billions in gold. That would mean 22 separate teams of people to move gold.

And lets be realistic, I assume there will be some strict verification/accounting of each load of gold at the origin and destination. This will take a while. Plus security measures have to be taken, and one would think some random element would be in place for precautionary reasons. Hard to see more than 1 flight a week being possible, if that.

On the other hand, lets say you had just one team of people that were trusted to move 5-ton batches of gold. If you did it in 7 years, that would be 44 flights a year. A bit less than one per week. With vacations and holidays and whatnot that timeframe sounds like exactly what I would expect!

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Author: goldcountry Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413754 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 3:17 PM
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LMAO.......nothing changes.....

Dave, I think you might be a bit confused, when you say "nothing changes" is this what you are referring to? . . .


http://www.goldmoney.com/gold-research/james-turk/gold-rises...

Gold rises for the 12th consecutive year
2013-JAN-02

For the twelfth year in a row, the gold price in terms of US dollars rose in 2012. Gold climbed 7.0%, so an arithmetic average of its annual rate of appreciation for the last 12 years when measured in US dollars is 16.8%.

Gold also rose in 2012 against all of the eight other major world currencies presented in the following table. Gold has been appreciating at double-digit annual rates on average against these currencies as well.

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To conclude, we should assume that gold and silver will both appreciate again in 2013. After all, governments and central banks are pursuing the same policies that have been destroying the purchasing power of national currencies for a decade. And the interrelated sovereign debt and bank insolvency crises remain a festering wound in the global financial system, further threatening the value and usefulness of national currencies. Owning physical gold and physical silver enables you to have wealth outside the global banking system, which for years has been and today still remains an essential objective for everyone.

The world’s experiment with fiat currencies is now four decades old and failing. It will inevitably end like all of history’s previous experiments with paper money – badly. Importantly, we also know from monetary history, as well as logic, that physical gold and silver will preserve your wealth in these tumultuous times.

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Author: harmy Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413755 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 4:29 PM
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Also Australia is fudging the books.

Wow !! You mean that fudging the books for a measly holding of just 80 tons of the stuff (which is all Australia's RB counts towards official reserves)is serious stuff ??

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Author: harmy Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413756 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 4:42 PM
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goldcountry

For the twelfth year in a row, the gold price in terms of US dollars rose in 2012.

Well, there is another way of looking at it. Say a block of gold twelve years ago bought you a house. Would that same block of gold today buy you a similar house or more than one house ??
If it still buys you one house then the price of gold hasn't actually risen. It is that the currrency of the day has fallen in value which, as you point out, is what is happening to our fiat currncies.

Regards
Harmy

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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413757 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 4:57 PM
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Wow !! You mean that fudging the books for a measly holding of just 80 tons of the stuff (which is all Australia's RB counts towards official reserves)is serious stuff ??

Scheesch Harmy what are you whining about, our three tons could be audited during coffee break. }};-D

I can't help but think someone didn't like the stuff?


http://www.24hgold.com/english/stat_country_detail.aspx?titr...

I'm not sure but I think the discrepancy Pos was talking about actually happened at the Mint's refinery where they do the coin stuff?

Tim

http://www.mint.ca/store/dyn/PDFs/Management%20Report%20Fina...

Executive Summary
A precious metal count conducted by the Mint in October 2008, revealed an unreconciled
difference of 17,500 troy ounces of gold which represented 0.3% of the Mint?s refinery
throughput for that fiscal year. The difference represented stock-keeping records that
reflected a higher amount of gold than the physical amount of gold on hand.
The Mint undertook immediate measures to ensure that all explanations for this
difference were investigated. Deloitte, a prominent auditing firm, was engaged to
examine whether or not the difference in the October 2008 count was the result of a 2008
accounting or transactional error. Its report, released publicly in June 2009, concluded
that the unreconciled difference was not the result of accounting or transactional 2008
errors and recommended that the following be conducted by the Mint:


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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413763 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 5:39 PM
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The world’s experiment with fiat currencies is now four decades old and failing. It will inevitably end like all of history’s previous experiments with paper money – badly.

"Those who cannot remember the past are condemned to repeat it."
-- George Santayana

Importantly, we also know from monetary history, as well as logic, that physical gold and silver will preserve your wealth in these tumultuous times.

But keep the $100 bills 'cuz paper fiat legal tender makes great tinder if you've got enough kindling. ;-)

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413764 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 5:52 PM
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Well, there is another way of looking at it. Say a block of gold twelve years ago bought you a house. Would that same block of gold today buy you a similar house or more than one house ??

If it still buys you one house then the price of gold hasn't actually risen. It is that the currrency of the day has fallen in value which, as you point out, is what is happening to our fiat currncies.


Ayup! 100 years ago a one ounce gold coin would buy you a new Colt pistol. Today it still will.

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Author: whafa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413765 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 6:01 PM
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Ayup! 100 years ago a one ounce gold coin would buy you a new Colt pistol. Today it still will.

This gets thrown around almost as much as the "quality suit" meme, but like the suit it's just not precise enough to be useful:

http://www.cabelas.com/colts.shtml

One ounce of gold runs around $1700 these days. Just on the first page of that site, the prices for a colt pistol range from $500 to $8000. Depending on which pistol you choose, you could argue any side of the gold story you like.

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Author: whafa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413766 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 6:11 PM
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Hmm... Actually, the price of a *new* Colt Pistol does seem to be surprisingly close:

http://www.impactguns.com/brandto.aspx?mid=83

Looks like around $1300 - $2000 depending on the model.

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Author: mauser96 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413768 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 6:35 PM
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The Cabelas reference shows many different guns and is like saying a serving of McDonalds food cost $2.59

The Colt .45 semiauto pistol has been changed only minimally since it was introduced in 1911. It is actually easy to compare old ones to new ones. Older ones are just as good to shoot, some people think they are better than the new ones. The first ones I looked at years ago cost $60. New ones sell for around $900 to $1000
http://en.wikipedia.org/wiki/M1911_pistol

Even today it is a highly desirable handgun.

http://www.foxnews.com/us/2012/07/28/marines-pay-22m-to-go-b...

Yes the gold 45 auto comparison is precise enough to be useful. Gold $20 coins haven't changed much in 100 years , neither have Colt Govt. model 45 pistols

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413773 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 7:52 PM
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Ayup! 100 years ago a one ounce gold coin would buy you a new Colt pistol. Today it still will.

One ounce of gold runs around $1700 these days. Just on the first page of that site, the prices for a colt pistol range from $500 to $8000.


I'll take all the NEW Colt pistols you can get me for $500 each.

Cabela's sells a lot of good stuff, pistols too, but even they don't have NEW Colt pistols for $500 bucks. The pistols I looked at on the linked page were all used.

I say again (he wailed into the wilderness) 100 years ago a one ounce gold coin would buy you a NEW Colt pistol. Today it still will.

Desert (don't need no stinkin' suits) Dave

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413774 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 7:59 PM
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Hmm... Actually, the price of a *new* Colt Pistol does seem to be surprisingly close:

http://www.impactguns.com/brandto.aspx?mid=83

Looks like around $1300 - $2000 depending on the model.


Ayup! Course *I* was thinkin' M1911A1 in .45 ACP. I'm told there are other models and calibers.

Desert (mere rumors I tell ya';-) Dave

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413775 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 8:06 PM
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Thank you for recommending this post to our Best of feature.You will be able to recommend 6 more posts today. (explain this)

Mmmmmmmmmmmmmm.... wouldn't it be nice if one of those Marine M1911's fell off a tank and happened to land in my back yard.

Of course, being a good citizen, I'd return it to them (after about 4000 rounds down range to make sure the fall hadn't hurt the gun you understand) as soon as possible.

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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413786 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/19/2013 10:23 PM
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GoofyHoofy
Knowing in advance that your questions are a form of ascribing unbelievability to one or two notions by making other unbelievable assertions, I will attempt to answer some of the points to illustrate how little weight this approach you've taken should be given.


OK. So having gone in with the theory that the Fed is perpetrating a fraud by claiming to have Germany's gold, but not actually having it, that Canada's equivalent is engaged in an identical scam, that Australia is doing its own version...

...that gold stocks are mostly, or at least partly chimera, and that gold sellers who store the metal for you mostly don't actually do that, but take your money anyway...

I am glad to know where you stand on this, because it helps others evaluate anything else you may say in the future on this or any other subject.

Really.

Incidentally, just a few extra clicks and I have found that your lofty predictor also said (2001) that Credit Cards won't be useful for internet commerce because of the fraud problem. In fact, they will bring down the entire system. (Luckily, he has a product to deal with just such a catastrophe! What a great coincidence!) The credit card collapse hasn't happened quite yet, but there's always hope, right?

For a while he's been calling for "imminent" hyperinflation in Japan. I'm still breathlessly waiting, especially since the problem in Japan is deflation, not inflation.

In 2003 he said that the "biggest bubble of all is not in stocks or home prices, but the dollar." Pretty close there, just off by three words and a comma.

In 2007 he said that the Central Banks of China and Singapore actually had less than half the gold they claim, which is possibly true I suppose, and puts them square in the camp with the US, Japan, Canada, Germany, France, England, Australia, and, uh, have I forgotten anyone? He hasn't gotten around to Iceland that I can find, but then I may have stopped too early.

I could probably find another half dozen representative statements and positions with six more clicks, but you get the idea. I hope. Well, if you don't, at least others will.

But I have to admit, this guy is pretty persuasive about metals. I do think tin foil would be a better arena for him than gold, however: he could use half the world supply all by himself, and perhaps there would be enough left over for his followers?
 


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Author: harmy Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413874 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/20/2013 4:05 PM
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tim

Scheesch Harmy what are you whining about, our three tons could be audited during coffee break. }};-D

I can't help but think someone didn't like the stuff?


Well, we did have 250 tons but sold off two thirds about ten years ago.
Countries like ours tim who are commodity rich don't really need gold to sustain our currency - commodities do that to a large degree.

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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 413880 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/20/2013 5:18 PM
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Well, we did have 250 tons but sold off two thirds about ten years ago.
Countries like ours tim who are commodity rich don't really need gold to sustain our currency - commodities do that to a large degree.



Yeah it's good to have a triple A credit rating unlike some of the Riff Raff we hang out with. }};-D


Any <runs for the exit> mouse

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Author: WilliB Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 414008 of 461029
Subject: Re: Germany’s Gold Is Being Held Hostage Date: 1/22/2013 12:15 PM
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Same deal as real estate, convert it to paper derivatives and bonds and sell the same thing a hundred times. Common sense says that scheme will end in catastrophe.

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