The Dutch Central Bank’s President Klaas Knot admitted in a tv interview that 90% of the countries gold reserves are safely stored in overseas.In the 1930’s the bulk of the gold was shipped to the US, Canada and Britain as a precaution against a German invasion but has never been returned since.

As reported by a reader of Max Keiser

yesterday the Dutch public television aired an item about the whereabouts of the Dutch gold, as a follow up of the questions asked by the Dutch socialist party, you reported about earlier.

The central bank’s president Klaas Knot is being interviewed and he finally admits that 90% of the gold is overseas (why doesn’t he just report about that in his annual report). Jim Rickards is also being interviewed.

At the end Knot, who’s acting very nervous throughout the interview, says the gold doesn’t need to be shipped back because he trusts the Americans, while earlier he says he doesn’t like much of the new legislation coming out of the US. And he says it’s useful to have the gold in trading places, should they want to sell some, although they haven’t sold in years.

Irrgang, the socialist, and Willem Middelkoop, a famous Dutch gold analyst, urge the central bank to reconsider their storage policy.

It was also reported in an article on a Dutch site Nieuwsuur, click here for translated version.

Of course Germanys gold is also stored mainly in the US. The Bundesbank’s former chief executive, Hans-Helmut Kotz, told the magazine Stern in 2004

“The biggest part of our gold reserves is held at the U.S. Federal Reserve, the Bank of England, and the Banque de France, in that order.”