20:11 GMT +329 March 2017

    Germany Gets the 'Wrong Suitcase' While Repatriating Its Gold Reserves From US

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    Germany has completed repatriation of 300 tons of gold bars from the United States. According to Russian economist Vladimir Katasonov, initially the American side was not ready to give the bullion back, but finally came up with a plan.

    Germany’s central bank has established the return of its gold reserves to domestic vaults by the end of 2017, three years ahead of schedule.

    Earlier this week, the Associated Press reported that the Bundesbank had completed relocation of 300 tons of gold from the Federal Reserve Bank of New York.

    "The transfers were carried out without any disruptions or irregularities," Carl-Ludwig Thiele, a member of the Bundesbank’s Executive Board, was quoted as saying by Bloomberg.

    According to the bank, 111 tons of gold were repatriated from the US in 2013. It also returned 105 tons from Paris.

    According to data from Marketwatch, by the end of 2016 47.9 percent of Germany’s gold reserves had already been stashed in vaults in Frankfurt, with 36.6 percent remaining in New York, 12.8 percent at the Bank of England in London and 2.7 percent at the Banque de France in Paris.

    In January 2013 Berlin announced that it was planning to store half of Germany's 3,378 tons of gold reserves in its own vaults, with the other half remaining in New York and London. According to the original plan, the Bundesbank would transfer 300 tons of the precious metal from New York and 374 tons from Paris to a facility in Frankfurt by 2020.

    Valentin Katasonov, a professor at the International Finance Department at the Moscow State Institute of International Relations (MGIMO), suggested that the US disposed of Germany’s gold bars at its own discretion.

    "There are a lot of signs that the gold was not physically presented in the New York vaults when Germany called it back. Of course, the US began to return it to Germany but there is one interesting detail. When you leave your suitcase in the luggage storage you expect to get back the same suitcase. But Germany took the wrong 'suitcase,'" Katasonov told Radio Sputnik.

    According to the economist, the gold bars that Bundesbank repatriated have different labels. He suggested that the US might have replaced the German bullion with different gold bars bought from the market.

    Katasonov explained that the US managed to return the yellow metal thanks to favorable conditions in the precious metal market.

    "I think there was a favorable environment in the market and the Americans managed to quickly buy the gold and give it back to Germany. They were not ready for this, but finally managed this replacement," he concluded.

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    • avatar
      It is a long held belief that there is very little US-owned gold in US vaults. Although much had been looted from Iraq and Libya, the remaining stockpile is owned by other nations. The so-called gold audits are a sham perpetrated by selected auditors.
    • Mikhas
      Check and you will find rods of tungsten in every gold bar...
    • avatar
      Undoubtedly the US doesnt have all the gold it has been entrusted with., So whats going to happen when everyone asks for it back?
    • avatar
      American vaults are empty. The gold is stolen by the criminal bankers. The Americans will find out this fact as soon as world economy and the dollar crashes
    • avatar
      The audit of the gold detained by us gov. /fed is a debate with increase skepticism about bookkeeping and reality. With this "move", it becomes obvious that the king has partially use the gold in its vault for other purpose than keeping it. Gold will become the only currency gov. and people will trust in a near future.
    • avatar
      Marques rougesin reply toUAFI(Show commentHide comment)
      UAFI, They'll make the gold's price plunge, like they did starting some years ago when Germany asked to get it back. Look at a chart, price wasrising, around $1800/oz until 2012-2013, when Germany wanted it back, in 2016 it fell as low as just above $1000/oz... must be a coincidence ?
    • klod.infobeez
      Now, they have to check the products to know if there's gold inside, or if it's stuffed with tungstène (same density)...
    • avatar
      tobi.gelandoin reply toprofessor.hornblow(Show commentHide comment)
      I fully agree with you !!!! I like only to ad, all gold what you own witch is stored in the vaults from a other country it has no value for you !!! Only the gold in your own vaults are yours !!!
      Thrust the Usa than you are lost !!!
    • avatar
      Forget the suitcase and get down to checking how much tungsten you have on your hands. I suspect that Merkel took a royal screwing.
    • C Han
      Normally financial institution can loan up to 7 times the amount of gold they have in their vault.
      But as Germany repatriate its gold, technically, Germany will be able to produce more Euro and the US less Dollars. How can as the dollars have already been produced...

      Am I missing something out here?
    • avatar
    • avatar
      According to a good German blog there are still 1236 t German gold stored in the US without hope to get it back or even only to control it. The Bundesbank couldn't take any inventory as they were refused to enter the stockrooms.
      If somebody can read German as there is no English version yet:
    • arpito
      only fools store gold with liars and thieves. The label change clearly shows to the World that they have misplaced their trust in the USA central banks. All run by Je*ws, who is to believe that the don't put their dirty hands on it. They managed to pay this small fraction back, and Germany is afraid to ask for the rest, because THE YANKS DO NOT HAVE IT.
    • avatar
      is this real gold coming back to Germany or is it fool's gold discovered by that 49'er and his daughter, Clementine. The americans cannot be trusted. All the gold was allegedly handed over by a former president to the 14 Jewish banks many decades ago. They have the gold and are perhaps in other sets of vaults, and now the people have to put together from their own pockets this shipment to appease the Germans. More requests to come and more will the people have to buy substitutions. Meanwhile, those holding the gold will never tell.
      What a wonderful country! The Gospel belt needs to be extended for greater forgiveness.
      I guess when it is all comes in full light, someone will seriously declare that Dr. No cleaned out the vault at Fort Knox. can't you remember! LOL
    • siberianhusky
      So far American government have refused to do full and open inventory of the gold in Fort Knox since the 1960's. More rumors then you can shake a stick at are that Fort Knox is empty apart from a façade of the gold in storage.
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