Re: Ist das Gold der Bundesbank weg? (hier der kurze Rest)

verfasst von R.Deutsch, 21.04.2001, 14:12

This same individual told me several months ago about
some astonishing intelligence he had learned from a
source in Europe. He told me that the Bundesbankªs gold
vault was empty, which seemed so preposterous that I
found it hard to believe. He also admitted that this
news startled him and that he did not have an adequate
explanation for it. He knew that the Bundesbank was an
active lender of gold, but he had a difficult time
accepting the possibility that all 3,400 tonnes that it
owned had been loaned. Yet he was confident that his
source had provided him with accurate information.

We now know what has happened. The Bundesbank has
loaned 1,700 tonnes, half its 3,400 tonnes reserve; the
other 1,700 tonnes were swapped for gold in the U.S.
reserves, requiring the change in the West Point vault
from Gold Bullion Reserve to Custodial Gold.

In other words, the Bundesbank's vault is empty because
half its gold is stored at West Point, not Europe, and
the other half has been loaned out.

Despite the proof that the ESF is involved in the gold
market, two questions remain unanswered.

First, what is the ESF's motive?

Unfortunately, we just don't know for certain.

Many, including me, believe that it is to use gold to
provide the liquidity needed to bail out some big banks
that have imprudently grown their gold books by
expanding credit and mismatching their asset/liability
maturities. These banks are the ones with the unusual
-- some say abnormal -- derivative activities that are
named as co-defendants in Reg Howe's suit against the
BIS. That this list includes Germany's largest bank may
explain why the Bundesbank would agree to participate
in this gold-swap scheme. It was bailing out one of its
own.

Others believe that the ESF aims to manipulate the gold
price to make inflation numbers look better than they
really are, keeping the gold price artificially low.
And there are some who argue that the U.S. government,
acting at the behest and under the instructions of the
big banks, aims to destroy their combined arch enemy --
gold, even though the gold mining industry would be
destroyed along with it.

This last theory is not outlandish. It has currency
because gold is the only free-market money. In contrast
to national currencies, all of which circulate only
because of government fiat, gold derives its value from
everyone who understands that it has usefulness as
money. And governments and banks don't like that while
they can manipulate gold for a time -- and as have we
have seen in recent years, even a long time -- they
cannot in the end control the price of gold any more
than they can control the price of a Picasso painting.

The value of a Picasso is determined by the free
market, and so too is gold. In short, you and I give
gold its value -- not the central banks, not the U.S.
government, and not any other government, either acting
alone or together. But the U.S. government either has
not yet learned or refuses to admit that its power to
control gold is limited, which is an inexplicable
conclusion unless you accept the notion that
governments have short memories and need to relearn
what they should have learned from experience.

If logic prevailed, the U.S. government would have
learned from its ill-fated attempt in the 1960s to keep
the price of gold abnormally cheap at $35 per ounce
that the market determines gold's value. But instead
the U.S. government is about to learn that it cannot
keep a manipulated floating-rate gold price from rising
any more than it was able to keep the manipulated
fixed-rate gold price from rising 30 years ago. The
free-market rate of exchange between dollars and gold
will prevail, eventually repeating what happened in the
1970s after the artificially low $35 rate was no longer
tenable -- the gold price will skyrocket higher. It is
well worthwhile keeping in mind that the gold price
rose nearly three-fold in the 18 months after the
fixed-rate price was abandoned in August 1971.

Then there is the second question. To what extent is
today's exceptionally low gold price the responsibility
of certain bullion banks, which have cheapened gold by
extending gold credit to such an extreme, and the ESF,
by perpetuating this scheme?

This question too does not have an answer, at least not
yet. But as the truth about the ESF's involvement in
the gold market continues to emerge and become more
widely known, the price of gold is destined to rise to
a more normal level, just as it did after August 1971.
The high price that gold eventually achieves will
indicate how badly certain bullion banks and the ESF
have damaged gold mining companies and the gold
industry.

In conclusion, while we don't know whether any of these
motives for manipulating the gold price that I ascribe
to the US government are accurate, one point is clear
and cannot be denied. The U.S. government cannot claim
that the ESF is not involved with gold. We now have the
proof. We know this because of our peek behind closed
doors.

-END-




<center>

<HR>

</center>

Thread gesperrt

 

gesamter Thread:

• Gata Klage (lang aber brisant) - R.Deutsch, 21.04.2001, 13:28
  • Unter welcher URL kann ich ihn herunterladen?... - Diogenes, 21.04.2001, 13:39
    • Re: Unter welcher URL kann ich ihn herunterladen?... - R.Deutsch, 21.04.2001, 14:20
  • ...wer oder was ist bitte"ESF"...? Danke für Rückinfo. Gruß tf:-) (owT) - Trueffel-Ferkel, 21.04.2001, 14:05
    • Re:...wer oder was ist bitte"ESF"...? Danke für Rückinfo. Gruß tf:-) (owT) - R.Deutsch, 21.04.2001, 14:15
      • ...und danke! (owT) - Trueffel-Ferkel, 21.04.2001, 14:40
    • Re:...wer oder was ist bitte"ESF"...? Danke für Rückinfo. Gruß tf:-) (owT) - Diogenes, 21.04.2001, 14:26
      • ...ah ja, danke! (owT) - Trueffel-Ferkel, 21.04.2001, 14:38
  • Re: Ist das Gold der Bundesbank weg? (hier der kurze Rest) - R.Deutsch, 21.04.2001, 14:12
  • Ist dies ein Auszug aus der Klageschrift? oT (Ich verstehe nur die Hälfte) - Talleyrand, 21.04.2001, 15:16
    • Re: das ist so brisant, dass ich es wohl mal übersetzen werde owT - R.Deutsch, 21.04.2001, 16:08
      • wäre nett!! (owT) - ManfredF, 21.04.2001, 18:25
  • Das ist ein heißes Teil - Diogenes, 21.04.2001, 18:25