I was listening to Glenn Beck this morning (Calm down Crudos :o) and guess what he was talking about? Show content
Rehypothecation and the returning of Germany's gold from the Federal Reserve in NYC.
Well not wanting to take at face value what Glenn reports I did a little research. I found the below article (http://www.zerohedge.com/contributed/2014-01-07/germanys-gold-housed-new-york-paris-and-london-all-gone) by zerohedge.com. Here is the opening paragraph.
Here is a recent correspondence from our friend Lars Schall, an independent financial journalist, and the German Central Bank, the Deutsche Bundesbank, regarding the exact whereabouts and specifications of Germany’s national gold reserve. From the correspondence below, it appears that the US Central Bank had already leased out Germany’s gold reserves in prior years and no longer has it, as the gold bars the US Central Bankers returned to Germany last year were clearly not the same ones that Germany originally deposited with them. The questions Mr. Schall’s revelations now beg is (1) if the Banque de France and the Bank of England have Germany’s original gold as well; and (2) if the various Central Bankers are deliberately returning Germany’s gold on a painfully slow timeline because they have already leased out Germany’s gold into the open market in prior years, no longer hold it, and must therefore scrape together Germany's gold from the open market now.
In short, when countries put their gold in the Federal Reserve, all of the bars were stamped with a country proof mark and numbered. So why is gold being returned to Germany without their proof mark and serial number (s)? Could it be that the gold has been loaned out (rehypothecation) and the Federal Reserve had to scrape together gold to return to Germany? By the way they only returned 1/10th of Germany's gold. The other 90% will be returned over the next six years.
Why is this important to you? The country? The worlds financial situation? Why isn't the main stream media reporting this?