Durk Pearson & Sandy Shaw’s®
Life Extension NewsTM
Volume 16 No. 3 • March 2013

Germany Wants Their Gold Back and Why They Are Unlikely to Get It

If the U.S. wanted another war with Germany (or, at least to risk retaliatory seizures of U.S. property in Germany) they are doing the “right” things to get it. The news as of this morning (Feb. 1, 2013) is that the Germans are becoming downright belligerent in demanding the return of their gold, about half of which is stored in the U.S. Federal Reserve building in New York, after earlier attempts to repatriate their gold—or even to see it—from the U.S. failed. The German Central Bank is required to count and weigh the gold it owns every year, but the German gold reserves kept in the U.S. have not been weighed or counted once in three decades.

The Germans sent auditors to the Federal Reserve of New York City in 2007 and again in 2011 and were refused the right to examine, let alone audit, their own gold. In 2011 they were allowed a glimpse of some gold and to weigh a few bars, but that was all. According to the latest deal with the Fed, Germany will be able to get their gold in 7 years (!).

If this sounds ominous, it also suggests that an audit should be immediately conducted of the U.S.’s store of gold supposedly under the Federal Reserve’s control.

The news has gotten around and stimulated similar demands. The Dutch, for example, have asked for an audit and full transparency. A question of concern is why it would take 7 years for Germany to get its gold. Keith Barron, a geologist and consultant responsible for one of the largest gold discoveries in 25 years, has been quoted in King World News: “I believe that most of the Western world’s gold, which is supposed to be in central bank vaults, has been leased out. Much of it is now in private hands in India, and what remains continues going East to China and other Asian vaults. So most of the Western gold has vanished from the vaults and it’s now just a book entry … Obviously the trust is breaking down in the system.”

The story concluded with a warning that we may be seeing the start of a run by other nations on central-bank (importantly including the Federal Reserve) stored gold. (The pie graph in the story showed the U.S.’s central bank as storing about one third of the world’s store of gold.)

The story suggests that the price of gold may skyrocket in response to a panic stemming from fears over where one’s gold has gone and how to get it back. The morale of this story is to hold your gold in your physical possession, not stored in the dungeons (er, vaults) of central banks.

The above is from a report of LewRockwell.com (written by Peter Krauth, Feb. 1, 2013)

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