Was GLD Gold Moved To The Dutch Central Bank?

In a move that is much more significant and relevant than the Chinese interest rate cut news, it was revealed that Netherland’s Central Bank repatriated 120 tonnes of gold this year.   The move was accounted for as a transfer of gold from the NY Fed to De Nederlandsche Bank (DNB).   I say “accounted for”  because I believe it is highly likely that the physical transfer took place from the GLD custodial vaults to the DNB.   Here’s the article:   LINK.

I think this also explains the 33 tonnes of gold that the U.S. military airlifted out of Ukraine:  Original SourceTranslated Version. (“Jesse” of Jesse’s Cafe Americain reminded about the Ukraine gold)

Recall that the Fed, together with Germany’s Bundesbank, explained that it would take 7 years to move 300 tonnes of gold from NY to Germany because it was complicated and expensive.   As we know, that was a glaringly transparent cover story for:  “the Fed does not have 300 tonnes to ship back to Germany and it will take 7 years to buy and move that amount of gold without driving up the world price of gold.”

Why do I make this assertion?  This is from the link above:  “In total, 120 tonnes of gold valued at €4bn has been brought back to the Netherlands by ship, Nos television said.”

So, why was the DNB able to move 120 tonnes in a matter of months but it will take 7 years to move 300 tonnes to Germany?

I think we all know the answer to that question, which is why I make the assertion that the bars shipped to the DNB came from GLD (click to enlarge):

Untitled

On March 21, GLD had 821 tonnes of gold.   Currently it has 720 tonnes.   Given what we know about the failure of the Fed to send Germany any gold other than 5 tonnes of miscellaneous scrap, and given that it appears as if Germany has abandoned its efforts to have any part of 300 tonnes of gold moved from NY to Germany (other than the 5 tonnes of crap), it is highly likely that the 100 tonnes removed from GLD since March has been moved to Amsterdam.  I’m sure the  balance was the gold airlifted by the U.S. from Ukraine.

The ONLY way gold is removed from GLD is if one of the Approved Participant bullion banks accumulated 100,000 share “baskets” and redeems the baskets for bars.  It’s the only way.  Even a big investor must transfer its shares to the bullion bank in order to execute the transaction.   And it says right in the Prospectus that the Trustee can deny the investor’s request for reasons that are not clear.

Whether or not my theory is accurate, I would bet my dog’s life that the 120 tonnes that the DNB received this year into its vaults unequivocally did not come from the NY Fed vaults.

14 thoughts on “Was GLD Gold Moved To The Dutch Central Bank?

  1. In addition to this: this week it also came out that the Dutch government has been taking preparations for returning to the guilder, and closely cooperated with Germany about this as well. Bloomberg did report on this, as did EU Observer:

    http://www.bloomberg.com/news/2014-11-18/dutch-had-back-up-plan-to-reintroduce-guilder-dijsselbloem-says.html

    http://euobserver.com/news/126605

    Beside Bloomberg and EUObserver, I can’t find hardly any coverage on this outside The Netherlands, except for one article in German, which appears to be based on the NRC article below:

    http://diepresse.com/home/politik/eu/4599427/Den-Haag-erwog-Ruckkehr-zu-Gulden?_vl_backlink=/home/index.do

    In The Netherlands, this was widely reported by many main stream newspapers as well as the national radio news bulletins. Like for example the NRC:

    http://www.nrc.nl/nieuws/2014/11/18/regering-had-in-2012-scenario-klaarliggen-voor-terugkeer-naar-gulden/

    The source of this story is an interview with former Finance Minister Jan-Kees De Jager in a TV program:

    http://omroep.human.nl/medialogica/2014/de-eurocrisis-en-de-beeldvorming.html

    A translation of the NRC article, which contains quite a lot more detail than the Reuters coverage, especially with regards to Germany being involved:

    -:-
    “Government had scenario ready for return to guilder”

    by Eva de Valk.

    INTERIOR During the height of the euro crisis in 2012, the Dutch government prepared a scenario to bring back the guilder as the Dutch currency.

    This is reported by the TV program Argos Medialogica from the public broadcasters Human and VPRO, based on their own research. A special multidisciplinary team of, amongst others lawyers, foreign specialists and economists, discussed the secret emergency scenarios at the Ministry of Finance, according to a press release from Argos Medialogica. For the worst case a scenario ‘Florin’ was ready: a return to the guilder if the euro would fall.

    The television program bases its findings on anonymous sources around the Ministry of Finance. A spokesman for the ministry conforms nor denies the existence of the ‘Florin’ scenario to Argos Medialogica. “We took every possibility into account, but aimed for a recovery of the euro,” the spokesman said.

    UPDATE 14:36: Minister of Finance Jeroen Dijsselbloem confirms to RTLZ that the government has indeed prepared for a return to the guilder at the height of the euro crisis. According to Dijsselbloem it was not possible to speak openly about this at the time, because it could cause panic on the financial markets. “So you prepare yourself, but you do not make it known. Very wise. ”

    DE JAGER: NETHERLANDS COLLABORATED WITH GERMANY

    Former Minister Jan Kees de Jager confirms that different scenarios were investigated. De Jager to Argos Medialogica:

    “The team usually arrived at Friday afternoon after the regular cabinet meeting at the Ministry of Finance, but could also be quickly available if we had to make a decision.”

    According to De Jager there was close cooperation with Germany regarding the preparation of scenarios:

    “The fact that several scenarios were discussed in Europe was very scary already to some countries. They did not do that, remarkably. We were one of the few countries, along with Germany. We even also had a team together which discussed scenarios, Germany-The Netherlands.”

    Also, De Nederlandsche Bank (DNB) thought about returning to the guilder in 2012. In March of this year, President Klaas Knot said in the TV program College Tour: “There have been times then when when we started thinking about such scenarios within the bank and started making preparations. I never want to end up in that again.”

    The episode about the financial crisis of Argos Medialogica is broadcasted tonight at 23:00 on NPO 2. Watch the trailer:
    -:-

    Very interesting detail from the Bloomberg coverage:

    “When asked about Germany, Dijsselbloem said he couldn’t say whether that country’s government had made similar preparations.”

    Apparantly Dijsselbloem forgot to consult De Jager about this….

    It is remarkable that this data all comes out just a week before the Swiss referendum, including the statement of the Luxembourg ECB board member that the ECB should consider buying gold. Jim Willie has said a long time that Germany will sooner or later switch over to the Sino-Russian camp, because of their dependence on Russian gas and oil. And of course they remember very well what happened during the Weimar period and they are certainly not amused about the US spying on them.

    So, now we have confirmation that Germany and The Netherlands have been preparing for the return of guilder / deutschmark AND both countries have been repatriating gold.

    Of course, if there was close cooperation between Germany and The Netherlands in 2012, it is not far fetched to assume a “Nordic Euro” scenario, which might include Finland and Austria, was also on the table. Given that Russia and China are actively hoarding gold, one gets the impression that the current “worst case” scenario would include a (partially) gold backed “Nordic Euro” and/or and extended “BRICS currency” scenario. Given the Swiss plan to back their currency with 20% gold, this might also be a good indicator for what The Netherlands and Germany and possibly the BRICS are aiming for in the near future. After all, these kinds of numbers are chosen after careful considerations and consultations.

    This is sure getting more interesting by the hour. 🙂

  2. With all the misinformation and subterfuge, one has to wonder if they really received their 120 tons at all. Where is the proof they actually received it? Or maybe it was some of that yellow tungsten? Or if they did receive it, was it hush money to keep quiet about the investigation results of who was really responsible for the shoot-down of the passenger jet over Ukraine? Why does the Dutch government get their gold back and Germany is left with an empty vault?
    “Dutch government refuses to reveal ‘secret deal’ into MH17 crash probe”
    I wonder if the Swiss news media will share this information with their viewers before the election.

  3. What about the gold that came out of…I forget… JPM a month or so ago. Maybe ten tons?

    Has it really gone so far that all the gold in the USA is now elsewhere?

    If so then that would explain, perhaps, the scarcity of COMEX slams of late. So how is the OI right now? Last I heard it was about 800 tons equivalent and isn’t Tuesday ground zero? The last slam was a failure and left the slammers 10,000 extra contracts short (Weds?). With some seemingly solid longs in the picture it could get embarrasing next week.

    Could the end of the game be that coordinated?

    Don’t sit on your gold, you will not be able to withstand the G-force!

  4. http://www.mineweb.com/mineweb/content/en/mineweb-independent-viewpoint?oid=260373&sn=Detail
    “Returning to a gold standard – why and how

    Fraser Murrell delves into the history of the Gold Standard and how a modern day version could be put in place.”
    Dr Fraser Murrell | Nov 20, 2014
    MELBOURNE, Australia
    November 21, 2014

    Dave, we know you’d never bet your dog’s life. Let alone over any clown central bank dog eats dog circus.
    Kickstarting next week’s circus capped by an official holiday and Black Friday, some US Data Releases:

    Monday: No “Data” to see here.
    Tuesday: Core PCE Price Index, GDP (2nd est.), FHFA House Price Index, S&P Case-Shiller Home Price Index, Consumer Confidence (Ho Ho Ho!)
    Wednesday: Core PCE Price Index, Durable Goods Orders, Initial Claims, Personal Income, Personal Spending, Chicago PMI, New Home Sales, Pending Home Sales (Ho Deez Homes)
    Thursday: Thanksgiving Holiday (Ho Down from Turkey Ranch)
    Friday: Nothing but discount candy canes and sugarplums

  5. Because the Dutch are part of the puppet masters that run our country along with Belgium, England and of course the Vatican
    Duh!!!!!

  6. GLD vaults are empty!!!
    Fed vaults are empty!!!

    Now which is it?

    People taking the NY Fed tour find plenty of gold there to see.

    If the US (OG) LIED about their gold reserves and understated them, they could still be at or above official levels. With some to spare in unofficial vaults to spare, only available to the FED shareholders.

    Russia, India and China, evveryone agrees, are understating their gold reserves. Why would the US not do the same back in the 70’s or 80’s? Defies logic.

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