Home Precious Metals

Will europe get its gold back from the UK?

derrybderryb Posts: 36,015 ✭✭✭✭✭
edited April 6, 2022 11:42AM in Precious Metals

NATO's internal gold war.

Following WWII many European and now NATO countries moved their gold to London for safekeeping from Stalin. Now that Russia wants rouble payment for its oil and gas exports from countries that are sanctioning it, it is very likely that these countries will seek and need to repatriate their sovereign gold from UK vaults in the event that Russia decides to also accept gold payment. Time will be of the essence as a very cold winter approaches.

Paying directly with gold has its logistics problems but gold can be held as a reserve currency and converted to any currency the seller of goods prefers. For example, if Pakistan wants Russian goods, they can convert their rupees to gold and then gold to rubles to complete the transaction. For this reason European nations who are heavily dependent on Russian goods and energy would be wise to now begin the process to repatriate their gold held by another central bank, in this case London.

  • Does London have the gold? Has it been leased, or worse, sold over the decades as many experts insist? Today's “paper gold” derivative transactions constitute a genuine pure-bred Ponzi scheme exceeding many-fold the real gold bullion theoretically behind them, probably with a 100 to 1 ratio or higher.
  • Who are the legitimate owners after many decades of international border shifting? Who would decide such ownership?
  • Will London use the gold to leverage many remaining Brexit disputes with the EU?
  • Just how serious could the whole mess become?

All of a sudden Russia has reminded the western world that gold is in fact money and that that is in fact why they filled their central bank vaults with it. Look for the gold price to explode if the word gets out that London does not have or is not able to immediately honor the demands. Is this an attempt, by those demanding payment in gold, to dismantle NATO?

"Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    This could become a major disaster. Certainly could have wide reaching impact on European economy - and thus affecting world wide economics. Cheers, RickO

  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    Gold certainly appears to becoming more prominent as money and a trusted option.

    He who owns (has in possession) the gold.... ....rules. Very true in ancient times, and I suspect becoming more true now.

    ----- kj
  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    IF the UK actually has the gold... and not leased, lended out etc., will they give it up? Or hold and delay for political/financial gain?

    ----- kj
  • tincuptincup Posts: 4,721 ✭✭✭✭✭
    edited April 5, 2022 8:25AM

    If you don't hold it... you don't own it.... (well, technically you may own it.. but good luck getting it in a timely manner if and when you want it)

    ----- kj
  • derrybderryb Posts: 36,015 ✭✭✭✭✭

    @tincup said:
    IF the UK actually has the gold... and not leased, lended out etc., will they give it up? Or hold and delay for political/financial gain?

    well that's another problem. UK has unresolved Brexit issues with the EU and may very well use the gold as a bargaining chip. In any case, like all gold reparations, nothing moves quickly if at all.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    Gexit !!

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭
    edited April 5, 2022 5:11PM

    @bronco2078 said:
    Gexit !!

    I got both UK gold and European gold in addition to gold from multiple other regions. All in the physical types. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • OPAOPA Posts: 17,103 ✭✭✭✭✭
    edited April 5, 2022 6:13PM

    I was under the impression that Putin wants to be paid in Rubles.. The non traceable kind

    "Russia will seek payment in rubles for gas sales from “unfriendly” countries, President Vladimir Putin said on Wednesday

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,015 ✭✭✭✭✭

    @OPA said:
    I was under the impression that Putin wants to be paid in Rubles.. The non traceable kind

    "Russia will seek payment in rubles for gas sales from “unfriendly” countries, President Vladimir Putin said on Wednesday

    correct. Is gold the next acceptable payment method. Many think so since he recently pegged his currency to gold.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • PerryHallPerryHall Posts: 45,191 ✭✭✭✭✭

    @derryb said:

    @OPA said:
    I was under the impression that Putin wants to be paid in Rubles.. The non traceable kind

    "Russia will seek payment in rubles for gas sales from “unfriendly” countries, President Vladimir Putin said on Wednesday

    correct. Is gold the next acceptable payment method. Many think so since he recently pegged his currency to gold.

    If his currency is pegged to gold, does this mean rubles are now convertible to gold at a fixed rate?

    Worry is the interest you pay on a debt you may not owe.

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    The payment system Russia has proposed is that Europeans open an account with Gazprombank and deposit Euros (or other currencies) that the bank then converts to rubles.

    So yeah, pretty much business as usual. But good fodder for the sympathizers. More of the same "if this ever gets out" tabloid BS.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    Untraceable rubles ? Kind of like me preffering paypal gift for bst stuff ?

    Crap does this mean ill be on cnn ? Commiting an atrocity of some sort ? Crossing a red line ? Sanctions will soon follow :o

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @bronco2078 said:
    Untraceable rubles ? Kind of like me preffering paypal gift for bst stuff ?

    Crap does this mean ill be on cnn ? Commiting an atrocity of some sort ? Crossing a red line ? Sanctions will soon follow :o

    Perhaps, but chances are you'll be BBC ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,755 ✭✭✭✭✭

    Gold will always be money ... even after the power runs out.

  • Sure, would think they will get there gold. Question is when? Would think there will be no urgency to deliver. Until all this craziness is resolved. I believe the agreement long ago has no clause on payback terms regarding time frame.

  • derrybderryb Posts: 36,015 ✭✭✭✭✭
    edited April 8, 2022 7:03AM

    Australia suddenly wants to audit it's gold in London vaults. What could possibly go wrong? London needs to show everyone their gold at once, otherwise they will keep showing the same stack to different "owners."

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    I love that aussie gold hunters show.
    Nuggets just lying on the ground all over

  • JimTylerJimTyler Posts: 2,991 ✭✭✭✭✭

    @bronco2078 said:
    I love that aussie gold hunters show.
    Nuggets just lying on the ground all over

    What kind of hunting is that ? It’s like shooting fish in a barrel

  • kruegerkrueger Posts: 792 ✭✭✭

    I heard the rumor too UK rented its gold held to Dubai.
    makes revenue off their holdings. Dubai I heard is flush with gold and gold markets.

    who Knows??

Sign In or Register to comment.