2009-06-21

Germany Demands Gold from U.S.?

Shocking if true:
Even more telling, I think, is when he reported, "The Germans have demanded all of their gold held in custodial accounts inside the United States to be returned to German soil."

He admits, "The story is not public, but details have come to me from a private source close to the action." But if I know Germans, and I don't, they are not going to sit around waiting for America to steal their gold, if indeed there is any left after the criminally incompetent Federal Reserve and Treasury encumbered thousands of tonnes of gold by leasing it out, which was immediately sold into the market by those borrowing the gold, massively depressing the price of gold (which was the whole purpose of the exercise) so that bubbling inflation in prices from the floods of money and credit coming from the Federal Reserve to finance massive, long-term deficit-spending by the federal government was effectively disguised by making gold ridiculously cheap, which made guys like me, whose familiarity with the Austrian school of economics allows us to see through this despicable scam, and we begin to accost strangers on the street in a heroic attempt to save them, and we say to them, "Buy gold now, you moron, because it will never be this cheap again! And if you don't buy gold even after being told, point-blank and right to your face, to buy gold as your only rational response to massive government incompetence and corruption that will destroy the dollar, then you are as stupid as you look! Hahaha! You're a moron! Hahaha!"

Interestingly, he adds, "The Germans have also given counsel for Dubai to demand all of their gold held in custodial accounts inside London to be returned to Dubai, where a new gold trading center will spring up. In my view, THIS IS THE BIGGEST NEWS FOR GOLD THIS ENTIRE YEAR."

Careful readers looking for "news behind the news for news you can use" will no doubt notice his use of all-capital letters with which to indicate particular emphasis, perhaps along this very line, which must be important as hell, for whatever reason, because the year is not quite half over and we already have the best news? Wow!

Then I learned that I did not even suspect that "the hidden arch-enemy for the US-UK on all matters pertaining to gold bullion is Germany." He admits that this "is not a well-known concept", letting me save a little face, although Germany is "also advising the Chinese on currency and gold matters. Can one detect some coordination?"
If true, it is big, big news. The Germans learned their lesson from the 1920s and they haven't forgotten it.

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