échange de courrier très interessant avec un lecteur du midas et le chargé de communication de la bundesbankwww.lemetropolecafe.com
Will the Bundesbank be any more forthcoming than our Fed?
From: Harvey Organ
Sent: August-25-09 8:47 PM
Subject: RE: Antwort auf Ihre Anfrage 2009/009018 - PRESSE-BBK-WEB-Formular
Dear Dr Axel Weber and other Bundesbank Officials:
Upon further reflection on what you wrote and my first email to you yesterday, I think I need some clarification on some terms:
You wrote: "Moreover, the Bundesbank needs to hold gold at the various trading centres in order to conduct its gold activities". However, there is no evidence to suggest that your Central Bank actually "sold" any of its gold reserves with other central or bullion banks. As a matter of fact, you have only recorded I believe 10 tonnes of gold sales to make gold coinage in the past 10 years. The phrase "activities" is very curious. Maybe you are buying gold? Is this something that should be reported! Is it possible for gold to be accumulated officially by the Bundesbank and not reported? I think it is necessary for you to spell out what you mean by gold activities and be transparent for your citizens!
In your letter you refer to a "large part of our reserves are kept in Germany". What we would like to know is as follows:
Is this "large part" in physical gold or in obligations to deliver or what is referred to as paper gold?
Did Germany lease part of their gold by lending it to say one of its sibling banks, Deutsche bank, and they sold the gold. Maybe this gold is not coming back, and you have a "gold receivable" on your books and not "gold holdings".
As the world is turning to greater transparency, you must indicate that the gold you claim is in the Bundesbank, is real gold and not paper/ obligations to deliver physical gold. If you are saying that a large part of your gold is at the Bundesbank and this gold is paper gold, then it is my contention that you are misleading in your letter to myself and Mr Kirby.
I would like to know if you audit, foreign held gold at West Point, New York or at the Federal Bank of NY. GATA is very aware that the Bank of NY is a foreign depository like the Bank of England. We are aware that it houses 60 countries gold.
My question is as follows: do you ask for an audit for all your gold housed in NY? If an audit is done, are they available publicly? If not available why not? Are you not suspicious that there may be some devious removal of gold from a foreign site? For example, the Bank of Canada has lost 17000 oz of gold and discovered the loss only by an audit.
If the Bank of England is also a foreign depository why did you not store some of your gold there as it is certainly closer to Germany than to usa? London is the centre of all physical gold transactions, it would be logical if you are storing gold outside of your jurisdiction to also store some in London.
If you have gold at West Point as well as the Federal Bank of NY, why did you choose that location? It is generally not a locale for a foreign depository of gold.
I would again, like to thank you in advance for your thoughtful answers.
Harvey B Organ BScPhm MBA
298 Russell Hill Rd
On Behalf Of email@example.com
Sent: August-24-09 4:29 AM
Subject: Antwort auf Ihre Anfrage 2009/009018 - PRESSE-BBK-WEB-Formular
Dear Mr Organ,
thank you for your request.
Please note that the quote of Max Keiser in the video on "Youtube" is not correct and please note that it has not been authorized by the Deutsche Bundesbank.
The Deutsche Bundesbank keeps a large part of its gold holdings in its own vaults in Germany, while some of its gold is also stored with the central banks located at major gold trading centres. This has historical and market-related reasons, the gold having been transferred to the Bundesbank at these trading centres. Moreover, the Bundesbank needs to hold gold at the various trading centres in order to conduct its gold activities. It is common practice for central banks to keep part of their gold reserves abroad.
Besides the Deutsche Bundesbank, other central banks and official agencies place gold in the custody of foreign central banks. According to its own data, the Federal Reserve of New York holds gold stocks for almost 60 different central banks and official agencies.
You indicated that the Deutsche Bundesbank will not be able to fully dispose of its gold reserves in the USA. Please be assumed that the Deutsche Bundesbank can withdraw gold from its holdings with foreign central banks at any time. The Bundesbank's gold is stored in the form of individually identifiable bars. Gold stocks are subjected to regular audits. Relevant inventory controls are conducted on site.
The Bundesbank applies the principles of safety, cost efficiency and liquidity to the management of foreign reserves in general, and to that of gold reserves (and, in this context, to the question of custody location in particular). As a rule, the physical transfer of gold reserves to another storage location cannot be ruled out. On the other hand, transportation to Germany and safekeeping in the Bundesbank's own vaults would entail high costs.
60431 Frankfurt am MainDiese Nachricht wurde mittels des Pressekontakt-Formulars verschickt.
Max Keiser's interview. It concerns me greatly that Germany may of swapped gold with the usa, 1700 tonnes worth ie. Bundesbank gold for 1700 tonnes at West Point.. It concerns me more that Germany may wish to get its gold back and can not because the usa refuses to release German sovereign gold.
This is information that must be released to the world. This activity by the usa should not be tolerated as it is criminal in nature.
Harvey B Organ BscPhm MBA