1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
SGM Metals Logo

SGM Metals: Germany Orders Immediate Audit & Their Gold Returned by BoE & FED!

The global currency war is starting to create massive carnage & nations of the world are demanding their gold returned home. This is the start of nationalism rising & soon alliances will be tested as currency destruction destroys wealth globally.

 
 
Currency wars destroy fiat money value, but make those who hold gold a nice gain
Currency wars destroy fiat money value, but make those who hold gold a nice gain
PRLog - Oct. 31, 2012 - Silver Doctors report: [ In perhaps the biggest story in gold since Hugo Chavez sent shockwaves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Constitutional Court has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, & in anticipation, has begun the repatriation of German gold from the NY Fed.  The Bundesbank will request the NY Fed ship 50 tons of German gold back to the motherland a year for the next 3 years!

Assuming the NY Fed complies with the Bundesbank’s request, we wish the cartel luck in finding 150 tons of TUNGSTEN FREE PHYZZ over the next 3 years as the Bundesbank reportedly will PHYSICALLY VERIFY THE GOLD.

   [Spiegel Reports] Germany has the second largest gold reserves in the world, nearly 3400 tons which has never been checked for authenticity & weight. Now, the Federal Court has asked the Bundesbank to examine the gold reserves abroad regularly.

   The German central bank gold is stored in vaults in Frankfurt, New York, Paris & London. Checked really by apparently no one. The Federal Court has the Bundesbank now anyway required regular inspection & inventory of the vast gold reserves abroad.

   The samples stored at other German banks stocks were also never verified by the Bundesbank itself or by other independent auditors “added physically & for authenticity & weight” checked. Actually talk on the subject numerous theories – so should the U.S. gold reserves at Fort Knox have long been looted.

   The Bundesbank has, behind the US gold hoard, the 2nd largest gold reserves in the world. End of 2011 there were 3396 tons, worth 133 billion euros. After the soaring price of gold is likely to reach about 142 billion euros currently even. Germany has secured their gold bars in the Bundesbank in its own vaults in Frankfurt as well as at three bearing points abroad: The U.S. Fed Bank in New York, Bank of France in Paris & the BoE in London.

   The Court recommends that the Bundesbank to negotiate with the three foreign central banks the right to physical verification of stocks. With the implementation of this recommendation. They also decided to bring in the next 3 yrs to 50 tons each of the past at the Fed in New York gold to Germany to get it here to undergo a thorough examination.]

This is when nations all of the sudden find a back bone & begin to make moves that are in their respective nations interest & not the global conglomerate. This is when the risk of breaking up global banking/trade alliances that have traditionally been hidden behind the scenes all of the sudden come to the forefront. Things are getting very hairy folks & the western media isn’t do anything to advise their viewers as to the dire nature of what is happening in the world around us.

This is where things can get a little sticky because if one country has held another countries gold for 5 decades you can bet that it has been counted as an asset on their balance sheet. A hard asset such as gold on a banks balance sheet is counted as a monetary asset, not a commodity, because it is a money. What do banks do with monetary assets on their balance sheets??? That’s right, they leverage it using the fractional reserve model of being able to create $9 for every $1 on the books & lend that money into the economy, or invest in derivatives like mortgage backed securities (MBS) & credit default swaps (CDS), buy stocks to name a few.

You have to understand this ‘holding onto other nations gold’ phenomenon dates back to post world war arrangement that established the Bretton Woods Gold Standard. This agreement required the participating nations to deposit their nations gold holdings into an agreed upon ‘neutral’ 3rd party location in order to function as collateral against which that nation could print a pre-determined volume of fiat paper money for every legitimate ounce of gold on deposit. This is how war torn Europe was able to purchase rebuilding supplies from abroad in order to re-establish their infrastructure because they now had a gold back fiat currency. Under the rules of this agreement the bank who is tasked with holding hundreds of metric tons of a sovereign govt.’s gold had the reassurance that there was no threat whatsoever that this nation will come asking for their gold back anytime soon as this arrangement was to be permanent. As you could imagine, these crafty little bankers looked at it like “If we have to hold all these nations gold reserves in our vaults,  we might as well use it to our advantage” & they did just that. At first they simply counted it as an asset on their balance sheet which gave them the unfair advantage of counting more gold on deposit for themselves thus allowing them to put more fiat (paper) money into existence than they ordinarily would have been permitted to. Over the years these banks began to abuse this power more & more as you could imagine. The result of this abuse is that the chain of custody for nations gold on deposit has been muddied & this will soon come to the surface which will only lead to harsh reactions & panicked pursuit of replacement assets. This is when things will get fun for the little guys who are holding gold & silver.

Don’t let this scare you away from gold because I see it as the single best reason why the average Joe finally has a chance to knock it out of the park thanks to the greed & stupidity of the banks instead of being collateralized by it for once. You must understand that these banks have ONLY screwed up the gold owned by the central banks, commercial banks & govt.s which will force them to go into frenzied open market gold purchase campaigns when they realize they don’t have as much gold as they have thought. This will create a tidal wave of massive precious metals purchases, to the tune of metric tons at a time, which will heavily benefit the average Joe who wisely got into gold ahead of this moment of realization. The banks greed will be the driving force for profit for those who secured their wealth in gold & silver. Now that you know these banks have destroyed the chain of custody for sovereign nations most treasured financial asset on the planet, wouldn’t it seem logical that as the financial crisis worsens & these sovereigns begin to demand their gold holdings be returned home to them that if you were holding physical gold in your hands you will be the winner? I’m afraid we will see some pretty nasty geopolitical skirmishes come from this nightmare as it unravels. For this reason alone (overlooking the benefit of holding precious metals to offset the dollar devaluation & inflation) it makes a lot of sense to hold the one financial asset that the world will be scrambling for when the confidence in the US dollar begins to wane & I can assure you it is a lot closer than you think. The way that big profits are made is by identifying a trend before it happens & positioning yourself to capture this event as it plays out rather than waiting for the talking heads on the TV to announce it & joining in with the herd of sheep as they all jump off the cliff together. This is a trend you will be able to get ahead of & score big as the economic variables that compliment the price of gold & silver are all ripe for an explosion. There has never been a more serious call for a hard asset hedge than now in human history as we are hopelessly locked in a very nasty currency war that stands the chance of doing irreparable damage to the fiat currency. Establish your “Weak Dollar Insurance Policy” in physical gold & silver bullion today & begin to participate in the sound money debate before its too late. Inflation can morph into hyperinflation, recessions can degrade into depressions & currency wars often shift into trade wars that can result in real wars in these types of conditions. Remember that it is a far better strategy to PREPARE your portfolio than to attempt to REPAIR it once the damage begins. Tick, tock.

Photo:
http://www.prlog.org/12012932/1

--- End ---

Click to Share

Contact Email:
***@sgmmetals.com Email Verified
Source:SGM Metals & The Elemental Economist
Phone:1-888-602-6888
City/Town:Palm Beach Gardens - Florida - United States
Industry:Banking, Business
Tags:silver doctors Chavez Venezeula, ECB Bundesbank German gold
Shortcut:prlog.org/12012932
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share