BILLIONS IN GOLD MISSING FROM U.S. FEDERAL RESERVE
Friday, 10 January 2014 06:25 Original here
January 10, 2014 6:30 AM EST (TRN http://www.TurnerRadioNetwork.com ) -- Billions of dollars in gold from Germany, stored with the U.S. Federal Reserve, seems to have gone "missing" and Germany wants to know where it went and why they're being given someone else's gold as replacement? When Germany demanded to SEE their gold, the Federal Reserve at first refused, then later allowed the Germans to see only ONE of NINE vaults allegedly containing German gold, but refused to allow the Germans to enter that one vault or even touch the gold. The Fed then told Germany it will take until the year 2020 to get all their gold back.
For those who are unaware, the world has a system in place for gold reserves similar to a massive safety deposit box. If, for example, you put your gold wedding ring in a box at the bank — in this case the Federal Reserve — you expect to get that exact ring back, not a roughly equal amount of gold.
Years ago, many countries in Europe, worried their national wealth would be plundered during World War II, stored their gold with the U.S. Federal Reserve and each of them marked their gold; in this case, it said "Bundesbank, Germany."
Germany has had billions of dollars worth of gold in the Federal Reserve for decades, but announced last year that it would like at least a percentage of it returned by 2014, and more in subsequent years. The initial request generated massive international speculation, but the actual return so far has been less publicized.
A report from Zero Hedge indicates the initial gold returned to Germany by the United States “didn’t have the Bundesbank stamp on it.” The Federal Reserve reportedly said it had to melt down the gold for transport. This doesn't make any sense since the gold was transported TO the federal reserve in its original shape, size and weight, without any difficulty. Why would modern transport systems be unable to ship it back that way?
Another explanation could be that the Federal Reserve has already sold it off, lent it out or used it as collateral for its own borrowing, and is now scrambling to replace it.
if this is true, it could bring about an unprecedented financial crash on a global scale; potentially cataclysmic. To give readers an idea of how serious this is, remember back to the 2008 “Sub-prime crisis." Imagine that crash on a global scale, and instead of houses it’s gold. People who lent money to the federal reserve THINKING it had gold as collateral, will find the FED has no collateral. UH OH! Suddenly, the world views federal reserve notes (you know, our cash money) as worthless.
RESERVE BANK OF INDIA SOUNDED THE WARNING MONTHS AGO
There is a Chapter V in the Reserve Bank of India report titled, ‘Dematerialization Of Gold.’ And as you get to the chart under gold-backed instruments in global trends, what you see is a chart that was excerpted right out of CPM’s book from 2011. CPM Group is a commodities market research, consulting, financial advisory, and asset management firm. What the chart shows is the paper claims on gold being approximately 93 to 1 vs physical gold that is available in the same year. This is an astonishing admission.
On January 8, 2014, the COMEX Warehouse published a disclosure chart which confirms the facts of this story. That chart, shown below, proves that there are 79.972 "owners" for every single ounce of gold in the COMEX warehouse. They admit they've sold the same ounces of gold to 79 different people! This is a system that cannot sustain itself once folks start demanding physical possession of gold; and they'll do that when they realize the paper money isn't worth the paper it's printed on. If all those people start demanding "their" gold, COMEX collapses!
Egon von Greyerz, founder of Matterhorn Asset Management of Zurich, Switzerland, said the LBMA will eventually collapse. "The simple fact is that the LBMA collapse is coming no matter how many distractions that various agents of the bullion banks, or the mainstream media might seek to create. And as that collapse of the paper gold fraud begins to take place, that is the moment in time when you will see what I have warned about for some time now in the gold market, and that is the beginning of the greatest short squeeze in modern financial history.”
According to Andrew McGuire of Coghlan Capitol as early as last April, “Entities went to the LBMA and said, ‘We don’t trust anybody anymore. We want our physical metal.’ They were told they would be cash settled instead by a bullion bank. The Western governments have been trying to plug holes, and the reason for it has to do with the default that was taking place at the LBMA."
These facts indicate the U.S. federal reserve is broke; has used other countries' gold to cover-up what's been going on at the LBMA and perhaps even in the COMEX, and as a result, the United States and the entire western financial system is on the brink of sudden, complete, total collapse because the gold that everyone thought they had, is gone. Nothing is backing their paper currency.
Want proof? Those of you who own gold via paper contract, try asking for the metal to be delivered. One of you will get it; 92 others will be forced to accept paper money instead; the same paper money that is heading toward worthlessness.
One more point: Paper money is "legal tender for all debts, public and private." So even though you have a contract that "promises" to deliver physical metal gold to you, the fact that "legal tender" exists means you are REQUIRED to accept that legal tender in lieu of the gold; you can't refuse the paper money! You'll be left with paper money that isn't worth anything.