This story has intensifying as the New York Fed has predictably denied Germany an audit of its gold reserves stored in New York. Over 1500 tonnes of gold at stake will only increase pressure on German authorities and is very bullish for gold as it leads more credibility to those who claim that it has been leased out but the CBs to suppress gold prices.

Calls for Germany to repatriate its 1,536 tons of gold reserves held at the NY Fed are intensifying as Der Spiegel reports the Federal Reserve has refused to allow German inspectors to even view the country’s massive gold reserves “in the interest of security and of the control process“.

We have stated repeatedly that with repatriation and/or audit requests completed or in progress by Venezuela, Germany, Switzerland, and the Netherlands, The BOE and the Fed suddenly find themselves in a heap of trouble as the situation (and confidence that the Central banks actually still hold the tungsten gold reserves on deposit) is rapidly deteriorating. 
More on the Fed’s non-compliance with German requests to view/inspect their own gold below.

 

Der Spiegel reports that nearly half of Germany’s entire gold reserves are still held (supposedly) 5 floors below the NY Fed.

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While Bundesbank officials likely understand the reality (much better than German politicians do) that a German repatriation of it’s entire 1,536 tons of gold reserves held at the NY Fed would likely cause a complete Western financial collapse if/when the Fed failed to promptly deliver said gold (tungsten free), confidence in the Fed and the BOE has clearly been shattered, and it is now only a matter of time for an absolute mad run on every last gram of physical metal underneath the NY Fed ensues.

Source: silverdoctors

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