the Swiss want their gold back from the FED
derryb
Posts: 36,792 ✭✭✭✭✭
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Seems that the local philosophy of "If you don't have the gold in your posession, you don't own the gold." is beginning to get legs. Maybe some other folks will want their physical too, this could get really interesting 'specially if the ETFers decide maybe they ought to have theirs too. There is a certain sovereignty bestowed on he who holds his own metal, that has to be an appealing strategy in this era of dirty deeds and mistrust.
Edited to add: One of the commenters commented "Long tungsten"...pretty funny.
more of the SHTF.
I'm not sure how effective the ban on selling will be (effectively bans trading it, too) and I don't think keeping 20% of assets in gold is feasible long-term.
<< <i>good for them (bad for us) >>
Why is it bad for us? It's their gold---let them pay to store and guard it.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>There is a certain sovereignty bestowed on he who holds his own metal, that has to be an appealing strategy in this era of dirty deeds and mistrust. >>
Amen, Brother!
<< <i>There is a certain sovereignty bestowed on he who holds his own metal, that has to be an appealing strategy in this era of dirty deeds and mistrust. >>
Agree and it applies to individual citizens as much as to nations.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
more of the SHTF.
I'm not sure how effective the ban on selling will be (effectively bans trading it, too) and I don't think keeping 20% of assets in gold is feasible long-term.
I don't know why forcing the issue is necessarily bad, for anyone. We need more reality, not less.
I like this one:
I knew it would happen.
<< <i>
<< <i>good for them (bad for us) >>
Why is it bad for us? It's their gold---let them pay to store and guard it. >>
Agreed - what is the benefit of us storing it?
<< <i>
<< <i>
<< <i>good for them (bad for us) >>
Why is it bad for us? It's their gold---let them pay to store and guard it. >>
Agreed - what is the benefit of us storing it? >>
I'm sure they were paying for storage with the FED. I'm also sure the FED would like much of the world's gold under their own lock and key pretty much for the same reason the Swiss want it back home.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
thanks for filtering info like this to the forum. always appreciate it!
<< <i>
<< <i>good for them (bad for us) >>
Why is it bad for us? It's their gold---let them pay to store and guard it. >>
no kidding
<< <i>Looks like they are drawing their tangible assets close. Entrusting it to a nation (the U.S.) to guard, as the debt becomes unsustainable, is not good policy. Better to hold it at home. Cheers, RickO >>
Ooops, sorry. Your gold was vaporized, if we find it you will get completly reimbursed, uhh, after we pay our creditors of course.
<< <i>Did you ever think these countries might want it back so they can sell it off?? >>
No. They want it back because they don't want the U.S. to sell it off. Seriously, would you trust the U.S. government to store your gold for you?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Did you ever think these countries might want it back so they can sell it off?? >>
No. They want it back because they don't want the U.S. to sell it off. Seriously, would you trust the U.S. government to store your gold for you? >>
<< <i>
<< <i>Looks like they are drawing their tangible assets close. Entrusting it to a nation (the U.S.) to guard, as the debt becomes unsustainable, is not good policy. Better to hold it at home. Cheers, RickO >>
Ooops, sorry. Your gold was vaporized, if we find it you will get completly reimbursed, uhh, after we pay our creditors of course. >>
Funny you should mention that. Lots of PMs being stored in bomb proof vaults under the World Trade Center went missing.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>
<< <i>Looks like they are drawing their tangible assets close. Entrusting it to a nation (the U.S.) to guard, as the debt becomes unsustainable, is not good policy. Better to hold it at home. Cheers, RickO >>
Ooops, sorry. Your gold was vaporized, if we find it you will get completly reimbursed, uhh, after we pay our creditors of course. >>
Funny you should mention that. Lots of PMs being stored in bomb proof vaults under the World Trade Center went missing. >>
You're assuming that it was ever there in the first place.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>Looks like they are drawing their tangible assets close. Entrusting it to a nation (the U.S.) to guard, as the debt becomes unsustainable, is not good policy. Better to hold it at home. Cheers, RickO >>
Ooops, sorry. Your gold was vaporized, if we find it you will get completly reimbursed, uhh, after we pay our creditors of course. >>
Funny you should mention that. Lots of PMs being stored in bomb proof vaults under the World Trade Center went missing. >>
I was thinking of MF Global and the "vaporized" 1.6 billion dollars.
<< <i>
<< <i>
<< <i>
<< <i>Looks like they are drawing their tangible assets close. Entrusting it to a nation (the U.S.) to guard, as the debt becomes unsustainable, is not good policy. Better to hold it at home. Cheers, RickO >>
Ooops, sorry. Your gold was vaporized, if we find it you will get completly reimbursed, uhh, after we pay our creditors of course. >>
Funny you should mention that. Lots of PMs being stored in bomb proof vaults under the World Trade Center went missing. >>
You're assuming that it was ever there in the first place. >>
Exactly my point.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Lots of bills in the US Congress can get three co-sponsors but never go anywhere. Similar things likely happen in Switzerland.
This story will be significant if and when the full Swiss Parliment asks for the return of Swiss gold.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Concerns in Germany About Its Gold at the NY Fed
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
very funny! consider this: If a tungsten bar was plated with gold, and was bought and held and sold and valued and considered gold, alongside real gold bars, and was never questioned or tested and was exactly and precisely believed to be real by everyone, forever, and was Always considered genune stored wealth, so that one ever knew...... what's the difference?
Liberty: Parent of Science & Industry
<< <i>One of the commenters commented "Long tungsten"...pretty funny.
very funny! consider this: If a tungsten bar was plated with gold, and was bought and held and sold and valued and considered gold, alongside real gold bars, and was never questioned or tested and was exactly and precisely believed to be real by everyone, forever, and was Always considered genune stored wealth, so that one ever knew...... what's the difference? >>
No difference as long as it is never discovered. Never say never.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>One of the commenters commented "Long tungsten"...pretty funny.
very funny! consider this: If a tungsten bar was plated with gold, and was bought and held and sold and valued and considered gold, alongside real gold bars, and was never questioned or tested and was exactly and precisely believed to be real by everyone, forever, and was Always considered genune stored wealth, so that one ever knew...... what's the difference? >>
You aren't up to speed on your Murray Rothbard, are you?
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
No, never heard of him. Is he the old man up in the sky who is magic?
Liberty: Parent of Science & Industry
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22