St Andrew Goldfields Ord STADF

Germany repatriating some of its gold holdings

[fergus2]

https://www.forbes.com/sites/afontevecchia/2013/01/16/germany-repatriating-gold-from-ny-paris-in-case-of-a-currency-crisis/

[fergus2]

I'm sure most of you that post on Stockhouse must receive the Sprott letters in your e-mail but I will post his latest letter just in case you haven't read it.  As mentioned  earlier, Germany is planning to repatriate 330 tonnesof gold  from the Federal Reserve Bank in New York. However the Fed tells the Germans that it will take 71/2 years to effect the transaction. &

[fergus2]

Did Central Banks Collude to Suppress the Gold Market? – Eric Sprott By Henry Bonner ([e-mail]) Sprott Global Resource Investments Ltd. Eric Sprott founded Sprott Asset Management in 2001, and has been a steadfast proponent of owning gold and gold equities over the last decade. He recently argued that gold may rally to new highs within the

[Eagle-Arc]

Yes fergus2: Back when Germany asked for their gold ,& more importantly to see their gold, eventually they    could look but don't touch & don't get too close, stand by the entrance door, now leave thank-you, see you in 7 years.  The US treasury is holding 45% of Germany's gold minus 8% =300tons, France gave back 330tons to Germany upon their request which

[fergus2]

EagleArc, Although it's  pure speculation it's almost certain that the 1300 tonnes sold by Britain would  have gone to the U.S. The Bank of England and the Federal Reserve see eye to eye in most matters. Both banks even tie their interest rates to the unemployment figures I just can't see the Bank of England letting 1300 tonnes slip away to China or

[Eagle-Arc]

fergus2: If memory serves me right, around the middle of January 2013.

[fergus2]

I would agree with Sprott that the bullion banks run the gold market on a fractional reserve system just like  regular banks do with paper money. It's not too big a stretch to assume they have got themselves  over leveraged  as did the regular banks in '09.  Banks colluded on the Libor and many of these banks are the same ones that trade gold. But for