Germany Upset with U.S., Merkel in China, signed agreements of trade.... No dollar to be used? China signs Yuan trade agreement with France and Luxembourg

Germany and Merkel are very upset with the U.S. once more over spying.  This time it has been discovered a spy for the U.S. was within Germany's Foreign Intelligence agency. 

Merkel is using some very harsh words against the U.S.  It also came at a time that Merkel is in China right now signing trade agreements with them.

"If the reports are correct it would be a serious case,"Merkel told a news conference in Beijing, standing next to
Chinese Premier Li Keqiang.

 "Germany is against that - regardless of where it comes from," Merkel said, in reference to industrial espionage."We have a duty as the state to protect our economy ... We are for the protection of intellectual property."

This year there have been many agreements signed with our closest allies of trade, dropping the dollar.  The U.K. signed an agreement with China just a couple of weeks ago, dropping the dollar. 

France just a few days ago said the dollar did not need to be used in their trade for oil 

The Chinese article is vague, as they always are regarding what currency will be used with Germany.  But just as before, you can read between the lines and figure it out as it came from Merkel's mouth.

 Merkel said that Germany is willing to make full use of intergovernmental consultations with China to deepen cooperation in the fields of innovation, joint research, market access, new urbanization , energy conservation, climate change and health services.

Germany is willing to collaborate closely with China in international and regional affairs, and to face challenges and realize common development, Merkel said, adding that Germany appreciates China's support of the EU and the euro.

Chinese and German companies signed a number of agreements for deals including buying helicopters from Germany and setting up a new automobile manufacturing base in China.

Another article has the information that Volkswagon is going to build two factories in China with an agreement just signed today.

BERLIN, July 7 German auto giant Volkswagen announced Monday that it will   build two new auto plants in its largest market of China to expand production   capacity.

Volkswagen said it had sold 20 million vehicles in China over the past 30 years   and would invest a total of 18.2 billion euros (25.25 billion U.S. dollars) between   2014 and 2018 in new plants and products together with its Chinese joint    venture   partners.

Include the fact as a linking headline article below the Merkel visit article is one titled:  Internationalization of the Renminbi.  

Now add the fact that China just signed trade agreements with France and Luxembourg using the Renminbi/Yuan and dropping the dollar. 

BEIJING, June 29 -- The People's Bank of China (PBoC), China's central bank, on Sunday announced that it has  inked two Memorandum of Understanding (MoUs) on renminbi(RMB) business with the   central banks of Luxembourg and France.

Zhou and Christian Noyer, Governor of the Banque de France, on Saturday signed a separate MoU to set up shortly a renminbi payment system in Paris.


This is just the news about China and their trade agreements with other countries, but let's not forget that Russia is doing the same thing around the world.  The dollar is being dropped fast with our closest allies. Isn't it ironic that the U.S. has spent trillions on wars in Iraq, Afghanistan and Libya due to those leaders about to drop the dollar in oil trade a few years ago?  Now, the world is dropping the dollar very fast and there is no way the U.S. can go to war against all the other countries.  Our allies have been embolden with being able to safely drop the dollar due to Russia and China taking the first steps.  The rest of the world it seems wants to leave the dollar behind.  Watch how country's credit ratings will be lowered in the near future along with the U.S. finding faults with banks around the world.

China has started their own credit rating company due to the U.S. using credit ratings for political motives.  That article is here. 

For all of us in the U.S., our way of life will change and the cost of things will skyrocket.  Our little China trinkets and items that seem so cheap now will be expensive.  At what point will all of this happen and we go Zimbawe?  The way other countries are quickly signing no dollar trade deals it may only be a couple of years or less.

The writing really is on the wall.

It really is sad to see, this once great country, appears to be being destroyed from the inside out.  I can't help but think that those who are in control are doing everything they can to destroy the country.  With the federal government bringing in as many illegals aliens as possible right now and causing chaos, it really does seem to be a systematic destruction in every form of the U.S.

I never thought or conceived  I would see the day this country being completely demolished on purpose by those we entrusted it with in D.C..

Germany: "NSA operating without limits." Has denied Merkel Access to her own file they compiled from tapping her phone

Germany has stated the U.S. NSA is operating without limits and is out of control.

Update 4/27/14 - Drudge has it on his page today.  This information was out almost 20 days ago, which is obvious as I put it on the blog on 4/9/14 and the Guardians article on Drudge is the 10th.

Merkel, the German Chancellor has been denied the information they compiled on her from the tapping of her phone.

They have ignored Germany's request of information since last October.

Merkel is coming to the U.S. on May 1st and will be meeting with Obama.  They will hold a joint press conference after the meeting.   I will find it very interesting if she says something.  Can you imagine the humiliation that would cause Obama.  

When you take everything that is happening into account, the U.S., I believe has lost it's credibility and standing throughout the world.  I believe many leaders around the world, won't mind seeing the U.S. go down.  I believe there are many countries that will follow Russia's lead in dropping the Petro dollar, once Russia does.  Right now they don't want the wrath of the U.S. upon them.  But once the path is cleared the dollar will be gotten rid of as the currency exchange for oil.

I believe Snowden needs to release all the information he has of what the U.S. has done and how far they go in surveillance of their own citizens besides the world leaders.   It is time for the full truth to come out.

Portions From article:

Germany's interior ministry reportedly approached the United States’ National Security Agency (NSA) last October to ask for the file’s content, amid revelations the NSA had been tapping the chancellor’s mobile phone.

But in a written response to parliamentary questions from the Green Party, the German government said: "The United States has not revealed the relevant information to the German government."

Former NSA contractor Edward Snowden revealed in October that the NSA had been tapping Merkel's mobile phone.

"If two-thirds of that which Edward Snowden claims or that which is attributed to him as a source were to be true, then I would come to the conclusion that the United States is operating without limits," de Maizière said in the interview.

Portions from the Guardian article:

The Obama's administration has also refused to enter into a mutual "no-spy" agreement with Germany, in part because Berlin is unwilling or unable to share the kinds of surveillance material the Americans say would be required for such a deal.

Merkel is intensely aware of the importance of the surveillance controversy for her domestic audience, and is planning to voice Germany's concerns privately with White House officials and leading senators. She will also be "forthright" in confronting the issue if she is asked by reporters during a press conference with Obama, according to a well-placed source with knowledge of the trip.

The news comes amid growing German frustration with the US and UK governments' failure to yield basic information about their surveillance activities. Earlier this week, interior minister Thomas de Maizière told Der Spiegel that the US response to the affair remained "inadequate".

In Germany, the aftermath of the Snowden revelations continues to be debated with vigour. On Wednesday, the head of a parliamentary inquiry into NSA surveillance resigned over a disagreement as to whether Snowden should be invited as a witness. Green and left politicians insist that the whistleblower should be invited to give testimony in person, but panel chairman Clemens Binninger, of Merkel's Christian Democrats, was more sceptical, arguing that most of the key information was already out in the public realm.

Academics at Rostock University, meanwhile, have voted to award Edward Snowden an honorary doctorate. Members of the philosophy faculty said they wanted to reward Snowden's "civil courage" and his "substantial contribution to a new global discourse about freedom, democracy, cosmopolitanism and the rights of the individual".

Here is a Question.... Since Germany seems to be really getting teed off with the U.S. now - NSA and Economics.... Will they demand all their gold back immediately?

The U.S. holds 674 tons of gold for Germany.

Germany has agreed to only get a portion (300 tons) of it's gold back from the U.S. through 2020.

But here is a thought and a question that could make things very interesting.

First we know that Germany is upset that the NSA tapped Merkel's cell phone and Obama lied  knowing about it.

Now it appears a public spat has begun with the U.S. and Germany blasting each other over their economies.  The U.S. has accused Germany of  dragging down it's neighbors today.  Germany fought back by accusing the U.S. of having high debt levels which are hurting the global economies.

It appears that friendly allies are becoming, not so friendly and going after each other since the NSA revelations.   At the link above you will also see a tweeted picture of a German politician in Russia with Snowden.

Germany is considering giving Snowden Asylum too.  (Which I wouldn't trust for anything.  They would turn Snowden over in 2 seconds upon pressure - war threats etc. from the U.S.  Putin has and will stand strong against the U.S.)

With taking all of this into account, my thought and question is..... would it be reasonable since Germany does not have trust in the U.S., for them to come out and demand all of their gold back from the U.S. immediately?  

If the openly public distrust of the U.S. gets any stronger, I would not be too surprised if Germany stood up for their gold and demand it all.

Germany has to know that the U.S. doesn't really have the gold anymore and that is why it will take until 2020 for them to even get 50% of it.

Just imagine the uproar that would occur in the financial markets.

This just a little thought that has come to mind and talk about a way of Germany taking the U.S. down without a shot being fired.... demand Gold and the U.S. isn't able to deliver it.

David Morgan Interview with me about Silver Shortage, Germany's Gold and China as the Global Reserve Currency on 1/29/13

David Morgan the Silver-Investor.com and Morgan Report graciously allowed me interview him today 1/29/13 about what is happening in the Silver market, Germany wanting their gold and China using "Global Reserve Currency" in an article for the Yuan today.

Part one - Silver shortage/manipulation


Part 2 - Germany and China




Part 3
 

Germany Parliament denied access to Germany's gold to confirm it is there.

Just two days ago Zerohedge had an article about the German court demanding, Germany's gold be viewed and accounted for. 

Portions from above:

Germany has the second largest gold reserves in the world, nearly 3400 tons. Supposedly, anyway. Because stocks have never been checked for authenticity and weight. Now, the Federal Court has asked the Bundesbank to examine the gold reserves abroad regularly.

The German central bank gold is safely stored in vaults in Frankfurt, New York, Paris and London. Checked really but apparently no one. The Federal Court has the Bundesbank now anyway required regular inspection and inventory of the vast gold reserves abroad. The auditors explain this in a report on Monday has become known to the budget committee of the Bundestag with the "high value of gold holdings."

The samples stored at other German banks stocks were also never by the Bundesbank itself or by other independent auditors "added physically and for authenticity and weight" checked. Actually talk on the subject numerous theories - so should the U.S. gold reserves at Fort Knox have long been looted.

With the implementation of this recommendation, the Bundesbank has begun according to the report. They also decided to bring in the next three years to 50 tons each of the past at the Fed in New York gold to Germany to get it here to undergo a thorough examination.

Bundesbank had been slammed for not auditing nor ever confirming Germany's gold is where it is suppose to be.

In May I wrote about the conflict between the Parliament and the bank of Germany in they wanted their gold in the country and the bank was saying NO. 

Well it seems the German Parliament has been denied that right by the Central bank, Bundesbank.  Bundesbank has denied the Parliament access to view the gold due to  "lack of visiting rooms."

 German Federal auditors handed in a report slamming the Bundesbank for not inspecting their foreign held gold reserves to verify their book value. The report says the gold bars “have never been physically checked by the Bundesbank itself or other independent auditors regarding their authenticity or weight.” Instead, it relies on “written confirmations by the storage sites.” The lion’s share of Germany’s gold reserves (nearly 3,400 tons estimated at $190 billion) are housed in vaults of the US Federal Reserve, the Bank of England and the Bank of France since the post-war days, when they were worried about a Cold War Soviet invasion. The Bundesbank stated, “There is no doubt about the integrity of the foreign storage sites in this regard”. In contrast with best industry practices Germany’s gold reserves do not seem to be independently verified by a third party. Philipp Missfelder, a politician from Merkel’s own party, has asked the Bundesbank for the right to view the gold bars in Paris and London, but the central bank has denied the request, citing the lack of visitor rooms in those facilities, German’s daily Bild reported. The Bundesbank won’t let German parliament members inspect the German gold vaulted abroad because the central bank vaulting facilities supposedly lack “visiting rooms.“ And yet one of those vaults, the Federal Reserve Bank of New York, offers the public tours that include “an exclusive visit to the gold vault”.

So, the game goes on.  A country is not even being allowed access to their gold,will the gold actually be audited by Bundesbank or will they ignore the court order?  Will they test it for tungsten?  

German Constitutional Court takes Power away from Merkel, says Parliament is Superior.

Wow the courts around the world sure have been busy this week and the past one.  First Egypt's court dissolved the parliament there and then Pakistan's Supreme Court kicked out it's  Prime Minister.

Now the Constitutional Court of Germany has ruled that Merkel has over stepped her bounds and she can not keep giving bail outs of the rest of Europe and not give details to the parliament.   

It says the Parliament is superior  in rulings than Merkel.   It looks like the ruling has possibly put the ESM at risk of being ratified in Germany too.

This is going to throw Europe into chaos, in my opinion.  There will be no more free flowing money from Germany which has been the country that has provided the bailout money.  Considering Spain and Italy are just going into crisis mode and needing money fast, there are going to be some wild rides coming up.


Article - translated to English:

D is eutlich the judgment of the Constitutional Court on the political voice of the Bundestag.  A unanimous slap for the Chancellor , which is known to prefer the quiet reigns, bug-proof closet out.  And like the MPs considered Kopfnicker like that should approve without opposition in the Bundestag and uninformed, what in the Chancellery of her and her main power brokers Ronald Pofalla was once again concocted.

The imperative for future policy operations has consistently expressed the judgment: Saying what's wrong and what is just is, as soon as possible. . And this is especially important for international agreements such as the euro rescue ESM . For its cash, the citizens must pay this year alone, 8.7 billion euros of taxpayers' money.  What could be justified in view of these sums, let Parliament and the people in the dark?

  Anti-democratic arguments

The opponents of transparency has often used anti-democratic arguments First, it is more efficient when political decisions are sometimes waved through in small bodies. Second, it would be even more difficult to achieve international agreement, if any should be informed and the secrecy is no longer guaranteed. But what kind of cynicism!  Only the stupid MPs is a good deputy?  And only the stupid people is a good citizen?

 

. Since the judgment of our constitutional judge does really well.  The Bundestag may a say again, apply the established democratic rules of our Constitution.. The future it could also again be clear who we need to assign responsibility for various "bailout" that are being set almost every week somewhere.

Only the Parliament, then the Chancellor's Office

. As such, it was high time that the specific form of caricature of government has met with opposition from the Constitutional Court.  The Basic Law does not exist for arbitrary disregard of the political sphere.  A Chancellor would actually follow it more carefully than any other participating political institutions, because it finally puts her oath of office on it. And we do not want to be governed by and on peaks that operate infinitely far away from our daily lives. . Considered democratic, the chancellor's office is subordinate to the parliament clearly.  The Chancellor should also be in support money finally take note of.. We do not want to be governed by Gutsfrauenart. The state authority emanates from the people.  Again remember, Mrs. Merkel?

I do believe things have just gotten more interesting in Europe now.  I don't believe this will go over well with those countries that are needing money desperately.

I found an article out of Australia about it also. 

Germany's constitutional court has ruled the government failed to inform parliament in good time about negotiations last year on the eurozone bailout fund.
Tuesday's ruling does not halt plans to put the European Stability Mechanism (ESM) in place next month but requires the government of Chancellor Angela Merkel to brief parliamentarians sooner next time.
Both chambers of parliament are scheduled to ratify the ESM treaty and the eurozone fiscal compact on June 29.
The case was a win for the opposition Green Party, which charged that parliament was not quickly shown documents about last year's bailout talks. Green Party whip Volker Beck said the opposition had to turn to Austrian colleagues to find out what was going on.
Under the German constitution, the parliament in Berlin has to be kept informed "comprehensively and at the earliest possible point of time and continuously" about negotiations at European Union (EU) level.
The court ruled that Merkel's government did not brief parliament properly last year on the state of talks over the new eurozone rescue fund, the ESM, or over negotiations on the "Euro-Plus Pact" requiring eurozone nations to coordinate economic policy.
The 500 billion euro ($A624.54 billion) ESM is the permanent successor to the existing bailout fund, the European Financial Stability Facility. Judges said the opposition should have been shown the ESM treaty draft by April 6 last year.
The decision was "another important building block in a series of decision by the Federal Constitutional Court to strengthen parliamentary responsibility in the framework of European integration," presiding judge Andreas Vosskuhle said.
The court has repeatedly slammed the executive in Berlin for not submitting enough to legislators.
"The briefing has to enable the parliament to exercise early and effective influence on the decision-making of the government and must take place in such a way that the parliament does not end up in a rubber-stamp role," Vosskuhle added.
Germany's government and opposition came close last week to reaching a final agreement to jointly ratify the ESM treaty and the fiscal compact, which the government insists on passing as a package. The legislation requires a two-third majority to pass.
As part of the bargain, the Merkel government has now promised to fast-track the introduction of a financial transaction tax in Europe if a minimum of nine member states agree.
Germany's opposition Social Democrats (SPD), who did not participate in the case, welcomed Tuesday's ruling.
Thomas Oppermann of the Social Democrats said: "This is another embarrassment to the government. They have been losing one case after another."

Now, will this cause Germany to be the first country to actually leave the Euro?  Considering it has been said that they have been printing Deutsche Marks and have them in the ready.

Germany's Gold - A Conflict between the Central Bank and members of the Parliament for Repatriating it's reserves from NY Fed/London and France.

In March I wrote about Germany and Switzerland wanting their gold back.   The people had begun questioning their Central Bank's decision of keeping their gold reserves outside the countries.  The people want their gold back within the borders of their country.

Chavez repatriated his country's gold and India has joined the crowd in the people wanting their gold back in the country.  A lawsuit was filed in India for that to happen. 

GATA has an updated article about Germany and their gold.

It seems there is a conflict/disagreement happening between the Central Bank of Germany (Bundesbank) and members of the Parliament and members of Germany's Federal Audit office (the Bundesrechnungshof) about Germany's gold.

It seems Germany's gold has not been fully accounted for in at least five years.

Now, members of the Parliament are standing up saying "They want the people's gold, back in the country."  They also are out right saying "They don't think it is there any more either."  It seems they think the Federal Reserve and London may have sold their gold.

The Central Bank of Germany is saying "We are not to question another Central Bank of the World.  If the Federal Reserve says the gold is there, then it is"

You have to laugh over that, considering all the Central Banks are controlled by the same people.  That is why they all stand by each other.  Those at the Central Banks will steal all the gold etc from the countries of the world, because ultimately they are stealing from the people of that country, not themselves.  Considering gold being held by Central banks is actually the people's gold and not the bankers gold.  

From the GATA link:

Germany has gold reserves of just under 3,400 tons, the second-largest reserves in the world after the United States. Much of that is in the safekeeping of central banks outside Germany, especially in the US Federal Reserve in New York. One would think that with such a valuable stash, worth around E133 billion ($170 billion), the German government would want to keep a close eye on its whereabouts. But now a bizarre dispute has broken out between German institutions over how closely the reserves should be checked.

Germany's federal audit office, the Bundesrechnungshof, which monitors the German government's financial management, is unhappy with how Germany's central bank, the Bundesbank, keeps tabs on its gold. According to media reports, the auditors are dissatisfied with the fact that gold reserves in Frankfurt are more closely monitored than those held abroad.

In Germany, spot checks are carried out to make sure that the gold bars are in the right place. But for the German gold that is stored on the Bundesbank's behalf by the US Federal Reserve in New York, the Bank of England in London, and the Banque de France in France, the German central bank relies on the assurances of its foreign counterparts that the gold is where it should be. The three foreign central banks give the Bundesbank annual statements confirming the size of the reserves, but the Germans do not usually carry out physical inspections of the bars.

... 'No Doubts' According to German media reports, the Bundesrechnungshof has now recommended in its confidential annual audit of the Bundesbank for 2011 that Germany's central bank check its foreign gold reserves with yearly spot checks.

The Bundesbank has rejected the demand, arguing that central banks do not usually check each others' reserves. "The scope of the checks that the Bundesrechnungshof wants does not correspond to the usual practices among central banks," the Bundesbank said in a statement quoted by the Frankfurter Allgemeine Zeitung newspaper. "There are no doubts about the integrity and the reputation of these foreign depositories."

Now the finance committee of the German parliament, the Bundestag, has gotten involved. Parliamentarians apparently demanded to see the Bundesrechnungshof's audit report on the Bundesbank after they were alarmed by a report in the influential tabloid daily Bild, which claimed that the central bank had not checked its gold reserves in five years. The Bundesrechnungshof will now provide the committee with its report, a spokesman for the federal auditors confirmed on Monday.

Germany moved some of its gold reserves abroad during the Cold War to protect them from a possible Soviet attack. Some of the gold was moved back to Frankfurt after the collapse of communism. But the Bundesbank argues that it still makes sense to store some gold in major financial centers so that it can be sold quickly if necessary. Although the Bundesbank does not provide exact details about the distribution, it has revealed that the largest share of Germany's gold is held in New York, followed by Frankfurt, London, and Paris.

... Skeptical about the Reserves

In times of uncertainty about the future of Europe's common currency, gold is a hot topic, and some Germans take a dim view of the fact that much of the country's gold -- which theoretically belongs to the people -- is held abroad. Some members of parliament have even expressed doubts as to whether the foreign gold reserves really exist.

Philipp Missfelder, a member of the conservative Christian Democratic Union (CDU), wanted to see the gold for himself and traveled to New York in person to inspect the holdings, according to the newspaper Frankfurter Rundschau. His trip was apparently unsuccessful, though. When he visited the Fed's safes in New York, staff were either unable or unwilling to show him exactly which bars belonged to Germany.

Peter Gauweiler, a Bundestag member with the CDU's Bavarian sister party, the Christian Social Union (CSU), is also skeptical about the foreign gold reserves. In recent years he has attempted to gain more information about Germany's gold through parliamentary questions. Last year he had an economics professor prepare an expert report on the subject, which concluded that the Bundesbank was not fulfilling its inventory regulations by failing to physically inspect the gold.

In July 2011, Spiegel reported that Bundesbank employees had physically seen the gold in New York within the previous six months. However, the last time it had been checked before that was in June 2007.

Gauweiler doubts that the Bundesbank would have immediate access to all its gold if necessary, suggesting that part of the gold may have even been lent out -- a claim that the Bundesbank rejects.

... Bringing Gold Back Home

The initiative alleges that there is an "acute" danger that the German gold could be expropriated as a result of the financial and debt crisis. They argue that the German government could soon be forced to sell gold to cover the costs of the crisis.

But the Bundesbank wants to leave the gold where it is. Observers point out that apart from the high cost of transporting the gold back to Frankfurt, the symbolic effect of Germany repatriating its gold reserves might unsettle the nervous financial markets, which could see it as a sign of an impending collapse of the euro.

Both Germany and Switzerland want their Gold Back from N.Y. Fed. The U.S. has gone to War over this type of thing. What will they do now, since there is no Gold?

Well, I believe things are getting more and more interesting.

Edit to add: 5/10/12 India may get their gold back.  

Both Germany and Switzerland have come out saying they want their Gold back from storage at the N.Y. Fed.

Considering the U.S. went into Iraq over trading oil outside of the dollar, Libya for daring to talk about trading oil for a gold backed currency.  Let's not forget Iran now wanting to trade oil for gold and by passing the dollar, so now the U.S. is ready to start a war there.

With Germany and Switzerland wanting their Gold back from the U.S.,  what is the U.S. going to do?  They can't exactly invade those countries.  So is their other option is to invade other countries around the world that have their own gold stored in the country to get enough to give Germany and Switzerland?


Swiss Initiative


We all know the Gold is not there and the U.S. would never just hand it over in the first place. Imagine in a few months how this may go down, would the truth be revealed to the public? Would Switzerland and Germany stand up and say: "The U.S. will not give us our own gold back, because they don't have it?"

Will this finally break the metals manipulation, once it is found there really isn't as much gold stored as previously thought?

One other question, How many other countries are now going to ask for their gold back from the U.S., now that Germany and Switzerland are standing up and asking for it?

Yep, life is getting more and more interesting.  I think I am going to need popcorn for watching this situation going down.  It will be better than any dramatic movie ever made.......

Germany Printing Deutsche Marks Very Fast has been CONFIRMED! To be able to Leave the Euro!

I have read the rumors for a couple of weeks, now it is CONFIRMED!


Moneynews.com has confirmed - Germany is printing the Deutsche Mark very fast to be able to leave the Euro! 

They see the writing on the wall.  Once/if Germany leaves the Euro, it will drop like lead in value.  Germany is the glue holding the currency together!  


There is no doubt Germany will leave the Euro very soon, in my opinion.  It is being held up strictly by one rumor of bailout to another.  The rumors have been China will bail them out - China denied that.  Then Russia will bail them out - Russia denied that.  Then Brazil was going to bail them out - Brazil said "No Way!".  I think the only country that has not been rumored to bail out Europe is Zimbabwe!  Today's rumor is the American Public is going to bail them out.  I believe the American Public would say "Go F yourself, we have already bailed out our banks in trillions of dollars for the banks to give themselves billions in bonuses and bankrupt the Middle Class."  


In reality, the Euro is finished there is no way of it surviving with every country needing a bailout there.  Greece is not able to even implement the requirements of them to be continued to have billions of Euros thrown at it in bailouts!


The question is.... How soon will Germany dump the Euro?  Since they have had their printing presses going a couple of weeks now, how ready are they to switch out currencies.   


I would think this will cause Gold and Silver to go up in price, when people with the Euros try to save it anyway they can for the value it is right now.  The smartest thing they could do is buy Gold and Silver immediately, before the Euro plummets. 

UH OH! Germany Lost 66% of their Gold by having Stored it in the United States in the Trusty hands of the Federal Reserve? And Another 21% in the Trusty Hands of U.K's Govt? We all know, there is really NO Gold in Fort Knox, if it Looks like Gold - Well can someone say "FAKE"?

I knew the U.S. held gold for other countries, but I did not realize that the U.S. was the custodian for 66% of Germany's Gold!  London holds 21% of their gold!  Look at this graph of Germany's gold and where it is held. 

If I was Germany right now, I would be just a little bit worried.  Both U.S. and U.K.'s officials have proven themselves to be untrustworthy.  They will do whatever it takes to keep the banks happy.  We also know how Gordon Brown sold off most of U.K.'s gold when the price was the lowest possible, years ago.  We also have heard and it has been proven of the fake gold in the form of bars, filled with tungsten and only a small gold layer on the outside.  Let's also look at the FACTS, there has not been an audit of Fort Knox, since Truman's administration, though Ron Paul has called for one over and over again.  He is trying to get a bill passed once more.    Remember Hong Kong received Fake Gold from London last year, when they called their gold back to put in their newly built vault. 

The fact Germany has so much gold held outside their country, this article even says: The U.S. may even just keep the gold as their own.  (Bet that would start a war on it's own) 

Portions from article:

Related to an essay by former U.S. Treasury Department and Federal Reserve official Edwin M. Truman (in which he is advocating that the United States should sell its gold reserves - see http://www.gata.org/node/9150.), Powell states with regard to Rickards interpretation:

“Rickards construes Truman's essay to mean that the U.S. political and financial establishment isn't thinking about using gold to restore some strength to the dollar and as a result the dollar will collapse and the world monetary system's return to gold will be chaotic rather than rational.

And, in addition to that, there is over 6000 tons of foreign official gold that is stored in the United States that we could always convert if we wanted to. If that gold is at the Federal Reserve Bank of New York, the United States could just secure it. We could send in a military convoy and move it to West Point or some secure US location and then just give the Europeans a receipt. So we could actually up our gold supply to over 14,000 tonnes very, very quickly. So we are a gold superpower.

In a way, the Fed could afford to trash the paper dollar, or at least experiment and risk trashing the paper dollar because if the paper dollar collapses, we could just go back to gold pretty easily. But the rest of the world can’t, especially if we take their gold.