2 thoughts on “German Gold Repatriation

  1. Dick Seegers

    Mr. Weiner,First of all I’m Dutch not German.If what you say is true, then it is obvious that at this very moment there exists a new secret version of the old London Gold Pool. And as the FED is not a government agency, but more like a government tool, it should not be able to deal with gold from this pool. Or – and this is another possibility – it means that gold in this pool has no official owner anymore.It is the latter that worries me and frankly speaking I think the German central bank might look at this te same way.What you say about the number of outstanding Comex contracts in comparison to the total German owned gold is an argument I used in one of my writings debunking government or bullion bank manipulation on the ground of naked shorting.The ‘game changer’ was Venezuela, not Germany. And as far as I know there are still some 100 tons of Venezuelan gold left in London vaults.And now I’ll be only speculative: it looks like there is a kind of understanding between the world’s main players in gold.

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  2. Keith Weiner

    Mr. Seegers: While I make no argument against the idea of central banks selling physical gold, it is not obvious that they are. Indeed, if they are then how do we explain a gold:silver ratio of 52 if they are suppressing the price of gold but not silver (the central banks haven’t got any silver)?What do you mean gold does not have an owner? The central bank holds assets such as gold and government bonds and issues the currency as its liability.I don’t think Venezuela changed anything. They are an international pariah country, hell bent on offending everyone and at risk for their assets to be frozen. If this is to be the future course of the world, it is a bleak future indeed.

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