jim willie, gold scandal is breaking, next stop $5000

[Large Sarge]

http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

[Neuro]

These are the headlines of the OP article:

-The battle is on for delivery and verification for official gold accounts-Evidence grows that much of it is gone, and when demanded, replaced with urgency
-It is soon to transform into a global gold war
-The German Govt gold demand to the London and NY City bankers represents a big escalation in the gold war
-The central bank coordinated QE to Infinity has brought questions of gold account location and integrity
-The Allocated Gold Account scandal is a natural event to follow the LIBOR banker scandal
-QE3 will assure a gold rise past the $2000 mark, but the new scandal will take the gold price to $5000
-The powerful gold factors are aligned and in place, led by permanent ZIRP and unlimited QE

very well written, and absolutely recommended reading. Germany's 4000 tons of gold is gone, I bet it is considered the final reparation for the holohoax! Cause they will never pay out another Pfennig after they discover the vaults are empty. Probably it amounts to around 6 million kilo's of gold outright stolen if you count the earlier monetary settlements.

[Katmandu]

Here is what does not make sense to me. Germany, the UK and the US are all knee-deep with the globalism plan and knee-deep with globalist elitists. To some measure, central banksters of all the major countries are working together to bring about a globalist enslavement world.

They control the media. If they don't want the issue with Germany's gold to escalate into a big gold war, then they would just settle this behind closed doors. So despite their seeming desire to "suppress" the gold price over the years, the fact that they allow this to be in the media would seem to indicate that they want an all out gold war that would launch the POG to several thousand $.

What am I missing? Maybe they don't control the media as tightly as they wish? Or maybe greed, dissension and in-fighting with the ranks of these demons causes this sort of thing to bubble out like it has?

[chad]

jim willie is chicken little.

[osoab]

I've read through most of it. He sites James Turk that I have seen. He has a decent amount of odds and ends before he gets to the meat of his post. No sources, just a whole lot of hyperbole.

The I read this.


In the summer 2012 months, a significant sequence of events took place. The CEO Josef Ackerman was ousted finally. Few realized that his removal was a key event in the change of tide against the Western banker elite. The story went largely unreported. As leader of D-Bank during many years of solid cooperation with London and New York banker games and gimmicks, he knew too much. My best info source reported last spring that several Interpol agents and high level investigators occupied Ackerman’s office while he was present. They obtained files, downloaded documents, and had their way. The shocked CEO made a phone call to an attorney, and was frustrated at the lack of pull. He made another phone call to a ranking judge, but again was frustrated at the lack of pull. He was told that the raid was done from a higher level than the German Govt. The Jackass was told that the raid was the work of a powerful new sheriff in town, with Eastern entity connections, hell-bent on justice, with a no nonsense attitude, with staggering wealth at their disposal. (red boldness by me)

I think the guy has been talking to fulford.

[Uncle Salty]

Next stop $5,000...yeah, but when? 2020? 2013?

[Hatha Sunahara]

Well, it is all Management of Perceptions Economics (MOPE), isn't it? Sorta like taking a bit of a vacation from reality. Check out this logic/spin:

http://www.silverdoctors.com/cnbc-mope-actual-existence-of-gold-reserves-is-irrelevant-its-the-bookkeeping-that-matters/


CNBC MOPE: Actual Existence of Gold Reserves is Irrelevant, It’s the Bookkeeping That Matters!October 26, 2012 By The Doc (http://www.silverdoctors.com/members/the-doc/profile/)

With this week’s reports that Germany repatriated 1,000 tons of its gold reserves from the Bank of England between 2000-01 (http://www.silverdoctors.com/classified-report-germany-withdrew-1000-tons-of-gold-from-london-in-2000-01/), and is repatriating 150 tons of its gold reserves from the NY Fed over the next 3 years (http://www.silverdoctors.com/germany-announces-intentions-to-repatriate-its-gold-from-ny-fed/), clearly the awake participants have realized the music stopped long ago, and are grabbing their physical gold chairs. It is now inevitable that an avalanche of central banks, hedge funds, and wealthy investors worldwide will begin to emulate Venezuela and Germany and request physical delivery of their unallocated (rehypothecated) ‘gold’.
In an amazingly weak and futile attempt to stem the inevitable onslaught of delivery and repatriation requests, CNBC’s senior editor John Carney has released an editorial claiming that it matters not whether the gold held at the NY Fed and the BOE is filled with tungsten, has been leased or swapped, or that it even exists- all that matters is the Fed’s bookkeeping ledger that states the gold is there.
CNBC (http://www.cnbc.com/id/49540593) begins by attempting to claim that it doesn’t matter whether Germany’s gold reserves held at the NY Fed are actually there and tungsten free, as long as the Fed says it’s there:

In reality, it does not matter one bit whether the Federal Reserve Bank of New York actually has the German central bank’s gold or whether the gold is pure. As long as the Fed says it is there, it is as good as there for all practical purposes to which it might be put. It can be sold, leased out, used as collateral, employed to extinguish liabilities and counted as bank capital just the same whether it exists or not.
Carney then attempts to claim the gold serves no actual purpose unless the Bundesbank wants to go into the gold watchmaking business:

The actual presence of the gold wouldn’t make a lick of difference unless, say, Germany’s central bank decided it wanted to start using the gold for some practical, non-monetary purpose like making watches.
CNBC would love investors to believe it’s not the actual physical Central Bank gold reserves that matter, it’s their book ledgers!

For almost all imaginable operational purposes, the actual existence of the gold in Fort Knox or in the vault beneath the FRBNY’s Liberty Street headquarters is irrelevant. The bookkeeping is what really matters here. So long as the Fed says Bundesbank owns X tons of gold, the Bundesbank can act as if it did own the gold—even if the gold had somehow been swallowed into a gold-eating galactic worm hole.
At least Carney is rational enough to acknowledge what happens when the jig is up:

I’m sure the Bundesbank officials understand this quite well, even though the German Audit Court does not. There is nothing to be gained by inspecting the gold. If it is all there and pure, there is no difference from an undiscovered absence. But if the gold isn’t there, well, calamity could follow as trust in the central bank gold depositories evaporated instantly.
Where there is smoke, there is always fire. Rather than investigating the source of the smoke, CNBC goes into overdrive MOPE denying the existence of the smoke.
Unfortunately for the Fed and the BOE, Hugo Chavez & now the German Audit Court have triggered a coming avalanche of physical gold delivery and repatriation requests.



This to me is an illustration of the core principle of all western banking. It is all based on faith. Faith that the money has value. Faith that the money is redeemable for something. The money doesn't really exist, except in our minds. If the bank tells me I have $1000 in my account, I have $1000 in my account. If I go into the bank and withdraw it, They will give me paper money and report the transaction to the government. I can then spend the money because there are lots of fools just like myself who will give me something in exchange for that paper. Now if I had a 400 oz gold bar on deposit with the Fed, and I wanted to withdraw it, would they give me a piece of paper saying it was worth 400 oz of gold? In lieu of giving me the gold? Because they don't have the gold? Now if that were the case, why would anyone have any faith or confidence in this system obviously operated by people with low integrity. When the money was actually backed with gold, and they failed to produce the gold when someone came in to withdraw it (because of a lack of confidence) news spread quickly, and there was a run on the bank. Followed by a failure of the bank. That doesn't happen today because the paper is not redeemable for gold or silver or anything else. Holding physical gold is appealing because there is no counterparty risk. But if someone else holds your gold, the counterparty risk is inversely proportionate to the integrity of those holding your gold. If the world recognizes them as having no integrity, the whole system will collapse and no bailout would be large enough to save them.

The fabric of faith is getting worn pretty thin when you see stuff like this from CNBC.


Hatha

[Ponce]

Once they prove that the vaults are empty and the gold is gone (thanks to Gold Finger) gold will go up without having nothing to do with production......this in turn will create panic and panic buying wich wil make it go higher.......but, there will be a shortage of gold which wil make it go higher and with nobody selling only the devil knows how high it will go.

Now the question is......who is holding the missing gold? and is the gold left over in the vaults real?

Even if I am from Cuba I still call Ameria "my beutifull country".....but, I am thinking of the old days when you could play ball on the streets and walk to school alone and where I just to hich-hike to go to American Bandstand. :(

[messianicdruid]

Germany's 4000 tons of gold is gone, I bet it is considered the final reparation for the holohoax!

Maybe now we can move on. Edom has been weighed in the balance, and found wanting.

http://www.gods-kingdom-ministries.net/daily-weblogs/2010/2010-m6-june/taking-the-kingdom-by-force-part-4/

[Neuro]

Maybe now we can move on. Edom has been weighed in the balance, and found wanting.

http://www.gods-kingdom-ministries.net/daily-weblogs/2010/2010-m6-june/taking-the-kingdom-by-force-part-4/
I really don't understand, can you clarify?

Another thing did a German delegation go to NY Fed, in September, asked to see the gold, and then brusquely turned away, as Jim Willie claimed?

[mamboni]

Hatha: from your post

CNBC (http://www.cnbc.com/id/49540593) begins by attempting to claim that it doesn’t matter whether Germany’s gold reserves held at the NY Fed are actually there and tungsten free, as long as the Fed says it’s there:

Carney:

In reality, it does not matter one bit whether the Federal Reserve Bank of New York actually has the German central bank’s gold or whether the gold is pure. As long as the Fed says it is there, it is as good as there for all practical purposes to which it might be put. It can be sold, leased out, used as collateral, employed to extinguish liabilities and counted as bank capital just the same whether it exists or not.



Mamboni comments: This guy Carney is appropriately named, a pure carnival barker bullshit artist. But he makes a subtle point: under a dollar standard the FED is the bottom line vis-a-vis credit and that is true. It's what the FED says about the gold that matters and to that limited degree this is true. But, he mixes lies with facts because "virtual" or "paper entry" gold cannot be sold into the physical market (leased) and that is the key. More soveriegns will demand their gold reserves. The banksters and their prestitutes in the media are literally trying to dazzle the world with bullshit and talk around the gold question. But, the raison d'etre of wealth protection afforded by gold is inseparable from the physical hard asset. Paper book gold is just another collateral asset. But physical gold is unique and superior to all other assets. But only physical gold in one's possession. All else is just talk.

[messianicdruid]

I really don't understand, can you clarify?

Edom was incorporated into Jewry in about 126B.C. Jacob received the birthright, which was by rights Esau's {Edom's} - the firstborn, by subterfuge. The birthright had to be returned to Edom. Since 1913 The Edomites have been enjoying the birthright and were responsible to bring forth the fruits of it. In this they have failed. So very soon they will be losing the birthright and it will be returned to those whom God determines should have it now.


http://gods-kingdom-ministries.net/teachings/books/the-struggle-for-the-birthright/chapter-2-the-story-of-esau/

[osoab]

Hatha: from your post

CNBC (http://www.cnbc.com/id/49540593) begins by attempting to claim that it doesn’t matter whether Germany’s gold reserves held at the NY Fed are actually there and tungsten free, as long as the Fed says it’s there:

Carney:

In reality, it does not matter one bit whether the Federal Reserve Bank of New York actually has the German central bank’s gold or whether the gold is pure. As long as the Fed says it is there, it is as good as there for all practical purposes to which it might be put. It can be sold, leased out, used as collateral, employed to extinguish liabilities and counted as bank capital just the same whether it exists or not.



Mamboni comments: This guy Carney is appropriately named, a pure carnival barker bullshit artist. But he makes a subtle point: under a dollar standard the FED is the bottom line vis-a-vis credit and that is true. It's what the FED says about the gold that matters and to that limited degree this is true. But, he mixes lies with facts because "virtual" or "paper entry" gold cannot be sold into the physical market (leased) and that is the key. More soveriegns will demand their gold reserves. The banksters and their prestitutes in the media are literally trying to dazzle the world with bullshit and talk around the gold question. But, the raison d'etre of wealth protection afforded by gold is inseparable from the physical hard asset. Paper book gold is just another collateral asset. But physical gold is unique and superior to all other assets. But only physical gold in one's possession. All else is just talk.



http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
Exclusive: Bank Of England To The Fed: "No Indication Should, Of Course, Be Given To The Bundesbank..." (http://www.zerohedge.com/news/2012-11-09/exclusive-bank-england-fed-no-indication-should-course-be-given-bundesbank)
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