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(Economist)   Bundesbank withdraws 674 tons of gold from US and French vaults at the same time HBO2 airs 'Die Hard with a Vengeance', which means that Jeremy Irons and Alan Rickman will jointly control the Federal Reserve   (economist.com) divider line 64
    More: Strange, Jeremy Irons, Alan Rickman, Bundesbank, Die Hard 3, Federal Reserve, first world countries, New York Fed, vengeance  
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5804 clicks; posted to Main » on 21 Jan 2013 at 9:52 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-21 09:33:05 AM
i49.tinypic.com

"Hook, line... and sinker"
 
2013-01-21 09:55:03 AM
This actually makes sense and they're one of the few countries that can afford to do this. This isn't a sign of anything going on in the US. However, if they were going to drop the Euro......
 
2013-01-21 09:57:38 AM
Hopefully they found some dumb Irish flatfoot to oversee the transfer.
 
2013-01-21 09:58:29 AM
It's ok. They left about $13 billion left in the aqueduct.

/I recall this plothole.
//
 
2013-01-21 09:59:17 AM
Don't worry fellas, it's just pancake syrup.
 
2013-01-21 10:01:33 AM
Did they stop by the Chester A Arthur school before withdrawing the gold?
encrypted-tbn0.gstatic.com
 
2013-01-21 10:01:56 AM

b2theory: This actually makes sense and they're one of the few countries that can afford to do this. This isn't a sign of anything going on in the US. However, if they were going to drop the Euro......


The decision could also be motivated by a reduced confidence in the U.S. financial system prompted by violent opposition of the Democratic Party to cutting spending domestically, resulting in massive unsustainable increases in public debt.

Without spending cuts, there is danger of political instability in the U.S. in the next 10 years as our fiat currency loses its value.

/real possibility now with Democrats controlling so much of the government.
 
2013-01-21 10:03:39 AM
The socialist utopia EU had all buy failed. Who would guess countries filled with lazy tax cheats demanding excessive entitlements would fail?
 
2013-01-21 10:04:28 AM
someone else who is interested:

4.bp.blogspot.com
 
2013-01-21 10:05:54 AM
Germany is familiar with the history of bankrupt governments and the ensuing rise of fascist dictators, they're just being cautious.
 
2013-01-21 10:07:19 AM
674 tons of gold?

t2.gstatic.com

Listen, I've got to clean it and it'll probably just take up space on my shelves for months... I'll give you 50-bucks.
 
2013-01-21 10:08:00 AM
The federal reserve lie does not accept gold in fact there is no gold in ft knox!
 
2013-01-21 10:08:40 AM
Man, the UPS fees on that are going to be horrendous.

/Does USPS have 'if it fits it ships' for International?
 
2013-01-21 10:08:45 AM

Jeremy Irons and Alan Rickman will jointly control the Federal Reserve


Now that Dirty Jobs has been canceled, maybe Mike Rowe can be the likable, baritone-voiced villain in the next Die Hard movie.
 
2013-01-21 10:10:26 AM
I've put all my money in gold. You libs will be sorry when you're eating dirt and I'm strutting around in gold pants.
 
2013-01-21 10:10:33 AM
I read The Economist! Aren't I cool? Aren't you impressed with me?

Question: Do you think I'm smarter than everyone else because I read The Economist, or do I read The Economist because I'm smarter than everyone else?
 
2013-01-21 10:10:48 AM
I hate to tell the article's author this, but I believe HBO plays that movie about 15 times a week, every week...apparently Bruce or one of his cronies owns HBO..
 
2013-01-21 10:11:04 AM
"The Bundesbank's decision suggests that some in Germany are worried about the public's continued trust in the euro"

Dumbsass article writer.

No a recent audit raised the concern that no one had actually ever seen the gold, thus it could in theory not exist. It has absolutely nothing to do with the Euro.
 
2013-01-21 10:11:16 AM

Englebert Slaptyback: Now that Dirty Jobs has been canceled, maybe Mike Rowe can be the likable, baritone-voiced villain in the next Die Hard movie.


Only if his evil headquarters are in a sewer.
 
2013-01-21 10:12:31 AM

Not too big to fail:

www.wearysloth.com
Yippee Kai Yay Motherfarker
 
2013-01-21 10:27:17 AM
Jeremy Irons and Alan Rickman will jointly control the Federal Reserve

Hell they can't do any worse. I'd look forward to the press conferences where they drop Jamie Dimon or Lloyd Blankfein into molten lava.
 
2013-01-21 10:30:19 AM

spawn73: "The Bundesbank's decision suggests that some in Germany are worried about the public's continued trust in the euro"

Dumbsass article writer.

No a recent audit raised the concern that no one had actually ever seen the gold, thus it could in theory not exist. It has absolutely nothing to do with the Euro.


So of course a visual inspection would be stupid as opposed to physically moving 674 tons.
 
2013-01-21 10:33:05 AM

Tom_Slick


Only if his evil headquarters are in a sewer.


I was thinking it should be that leather tanning place with the evil mechanical jaw machine.
 
2013-01-21 10:35:48 AM

PirateKing: Don't worry fellas, it's just pancake syrup.


So, they are attempting to steal Canada's Strategic Maple Reserve...again?
 
2013-01-21 10:37:22 AM

Oliver Twisted: spawn73: "The Bundesbank's decision suggests that some in Germany are worried about the public's continued trust in the euro"

Dumbsass article writer.

No a recent audit raised the concern that no one had actually ever seen the gold, thus it could in theory not exist. It has absolutely nothing to do with the Euro.

So of course a visual inspection would be stupid as opposed to physically moving 674 tons.


Obviously, you haven't seen movies with gold-plated lead bars, or heard the story of Archimedes, his bathtub, and "Eureka"...
 
2013-01-21 10:38:48 AM

Englebert Slaptyback: I was thinking it should be that leather tanning place with the evil mechanical jaw machine.


No, not for Die Hard, now if he were a Bond villain, that would be perfect.
 
2013-01-21 10:41:54 AM

Animatronik: Obviously, you haven't seen movies with gold-plated lead bars, or heard the story of Archimedes, his bathtub, and "Eureka"...


If I lived in Eureka, California, I would definitely start Archimedes' Bar.

/ and serve bathtub gin.
 
2013-01-21 10:47:54 AM

Snarfangel: Animatronik: Obviously, you haven't seen movies with gold-plated lead bars, or heard the story of Archimedes, his bathtub, and "Eureka"...

If I lived in Eureka, California, I would definitely start Archimedes' Bar.

/ and serve bathtub gin.


Here's a question for farkers: is it possible to make an object that is gold plated such all noninvasive tests (no drilling, melting, cutting) will fail to detect that it isn't solid gold, and if its impossible, what's the 'best you can do"?
 
2013-01-21 10:48:49 AM
There's really not much reason for them (or any other country) to have a big hoard of gold. I could see them selling some of it off.

Removing it from the U.S. is probably more of an ego move than anything else, plus they feel secure enough whereas this wasn't the case during the Cold War.
 
2013-01-21 10:55:02 AM

Animatronik: b2theory: This actually makes sense and they're one of the few countries that can afford to do this. This isn't a sign of anything going on in the US. However, if they were going to drop the Euro......

The decision could also be motivated by a reduced confidence in the U.S. financial system prompted by violent opposition of the Democratic Party to cutting spending domestically, resulting in massive unsustainable increases in public debt.

Without spending cuts, there is danger of political instability in the U.S. in the next 10 years as our fiat currency loses its value.

/real possibility now with Democrats controlling so much of the government.


I'll answer that..... No. That isn't how banking works.
 
2013-01-21 10:57:10 AM

Oliver Twisted: spawn73: "The Bundesbank's decision suggests that some in Germany are worried about the public's continued trust in the euro"

Dumbsass article writer.

No a recent audit raised the concern that no one had actually ever seen the gold, thus it could in theory not exist. It has absolutely nothing to do with the Euro.

So of course a visual inspection would be stupid as opposed to physically moving 674 tons.


Maybe the external audit would bring the subject up again next year, like, "how do you know that it's not been sold, or made radioative James Bond style, since last time you checked it out?".

Apparently they want it so they can go pat it once in a while. They probably paid for the Americans and French to store it for them, rather than the other way around, so why not bring it home.
 
2013-01-21 10:59:03 AM

Nemo's Brother: The socialist utopia EU had all buy failed. Who would guess countries filled with lazy tax cheats demanding excessive entitlements would fail?


And by that you mean, it hasn't failed at all, and even the dumbfark Greeks and Irish couldn´t put a dent in the Euro.
 
2013-01-21 11:00:18 AM

Oliver Twisted: So of course a visual inspection would be stupid as opposed to physically moving 674 tons.


The lack of recent inspections is only one part of the problem. Another is that in recent years the Bundesbank didn't distinguish between gold they actually had and receivables on their public balance sheet. So the ugly suspicion is that for much of the gold there are no bars to inspect, only bars owed by god knows who.

Bringing part of the gold home is an attempt to restore public confidence after an impressive PR clusterfark.

It is probably best not to think too hard about the difference that it is supposed to make.
 
2013-01-21 11:01:43 AM

Animatronik: Snarfangel: Animatronik: Obviously, you haven't seen movies with gold-plated lead bars, or heard the story of Archimedes, his bathtub, and "Eureka"...

If I lived in Eureka, California, I would definitely start Archimedes' Bar.

/ and serve bathtub gin.

Here's a question for farkers: is it possible to make an object that is gold plated such all noninvasive tests (no drilling, melting, cutting) will fail to detect that it isn't solid gold, and if its impossible, what's the 'best you can do"?


You would need something at least as dense as gold to pull it off -- if it's more dense, you can alloy it, but if it's less dense, you can definitely tell.

So you can use...

Gold 19.282 (of course)
Roentgenium >19.282
Plutonium 19.84
Neptunium 20.25
Rhenium 21.02
Platinum 21.46
Darmstadtium >21.46
Osmium 22.610
Iridium 22.650
Seaborgium 35 (Estimate)
Meitnerium 35 (Estimate)
Bohrium 37 (Estimate)
Dubnium 39 (Estimate)
Hassium 41 (Estimate)

And for completeness, since these are uncertain...
Fermium Unknown
Mendelevium Unknown
Nobelium Unknown
Ununoctium Unknown

The elements you've never heard of are probably too radioactive. Platinum is $1676 per ounce (gold is $1684, so theoretically you could make $8 an ounce), The others are more expensive per ounce, I think, though I'm too lazy to look. Lead is right out, though.
 
2013-01-21 11:05:51 AM

Scrambled Zen: Jeremy Irons and Alan Rickman will jointly control the Federal Reserve

Hell they can't do any worse. I'd look forward to the press conferences where they drop Jamie Dimon or Lloyd Blankfein into molten lava.


Like that's gonna stop them
2.bp.blogspot.com
 
2013-01-21 11:06:12 AM
I don't see the big deal. Every few months i withdraw all of my money out of the bank and roll around in it as well. You gotta be really careful abou tthose dime rolls.
 
2013-01-21 11:10:50 AM
Wouldn't this coupled with some sort of well timed EMP that wrecks bank system records while Goldeneye is playing be more "ironical" or whatever?
 
2013-01-21 11:11:54 AM
Letter from the Chase Manhatten Bank
To its gold bullion customers

Welcome to the new world of gold storage. No longer will your gold uselessly sit in bank vaults buried under our Manhatten branch. Instead, they will now reside in safety on the bottom of the Hudson River, where nobody will dare to go on account of the pollution.

Be assured that your gold is as safe as banks, protected by the toxic, sludgy waters of Old Man Hudson.

We have reviewed our costs and find that storing the world's gold on the river bottom is just as safe and as expensive as storing it in vaults. There will therefore be no additional cost to you, the gold owner!

In fact, river bottom storage marks a return to old time gold storage practice. Our ancestors would throw their treasure, magical swords and other durable items into lakes and magical wells for safe-keeping. With this return to solid, trustworthy and traditional methods, you can be assured that the God of the River Hudson is watching over your gold as vigilently as our skilled technicians and watchful guards.

We look forward to provided you with this new, enhanced gold storage option, but if you have new gold to store, our vaults have never been roomier!

Sincerely yours,

Chase Manhatten Bank Bullion Services. Now merged with the River Hudson.
 
2013-01-21 11:15:45 AM

Rapmaster2000: I've put all my money in gold. You libs will be sorry when you're eating dirt and I'm strutting around in gold pants.


You?

www.ohgizmo.com
 
2013-01-21 11:18:53 AM

Snarfangel: Animatronik: Snarfangel: Animatronik: Obviously, you haven't seen movies with gold-plated lead bars, or heard the story of Archimedes, his bathtub, and "Eureka"...

If I lived in Eureka, California, I would definitely start Archimedes' Bar.

/ and serve bathtub gin.

Here's a question for farkers: is it possible to make an object that is gold plated such all noninvasive tests (no drilling, melting, cutting) will fail to detect that it isn't solid gold, and if its impossible, what's the 'best you can do"?

You would need something at least as dense as gold to pull it off -- if it's more dense, you can alloy it, but if it's less dense, you can definitely tell.

So you can use...

Gold 19.282 (of course)
Roentgenium >19.282
Plutonium 19.84
Neptunium 20.25
Rhenium 21.02
Platinum 21.46
Darmstadtium >21.46
Osmium 22.610
Iridium 22.650
Seaborgium 35 (Estimate)
Meitnerium 35 (Estimate)
Bohrium 37 (Estimate)
Dubnium 39 (Estimate)
Hassium 41 (Estimate)

And for completeness, since these are uncertain...
Fermium Unknown
Mendelevium Unknown
Nobelium Unknown
Ununoctium Unknown

The elements you've never heard of are probably too radioactive. Platinum is $1676 per ounce (gold is $1684, so theoretically you could make $8 an ounce), The others are more expensive per ounce, I think, though I'm too lazy to look. Lead is right out, though.


You forget about tungsten. Its about 35 bucks a pound, very close to gold density, so only a small amount of another metal would be needed, so the cost is low.

/could be detected using imaging methods though.
 
2013-01-21 11:20:48 AM
Letter from the Bank of Canada

We have recently audited our gold bullion stores and find that we have seriously undercounted our gold stocks by several hundreds of billions of dollars. In order to keep this gold out of the hands of socialists, we are shipping it to the Chase Manhatten bank in New York for storage.

The gold will be used to pay off our national debt, give massive subsidies to grain farmers and oil exploration companies, and to buy elections for generations to come. None of the money will be used to hire or pay government bureaucrats. However, we will need to create a lot of jobs to cover the management of these newly found funds, so we will give a few billion here or there to temporary help firms and private public partnerships.

This has absolutely nothing to do with the theft of hundreds of billions of dollars worth of gold from the Chase Manhatten Bank. As everybody knows, that gold is safe on the bottom of the Hudson River. It is merely fortuitous that the Chase Manhatten Bank has exactly enough room to store our new bullion

And it is pure coincidence that Prime Minister Harper is now wearing a gold crown and cloth of gold sweater with matching gold stockings. Only that pack of lying socialists in the Opposition would say such a thing. Honi soit qui mal y pense as President Harper always says. King Harper poo-poos the ludicrous claims of the former Opposition with a waive of his heavily bling-bling bedecked Royal Hand.
 
2013-01-21 11:28:06 AM
www.ohgizmo.com

His Serene Majesty, Stephen Harper sports a jaunty new moustache as part of his new "King of Canada". And isn't that "30" Medaillon sweet? Was it a birthday present? And isn't it amazing how Grecian Economy Formula can take years off of you by gradually darkening your hair?
 
2013-01-21 11:31:24 AM
John Austin rocks the bling-bling look.
 
2013-01-21 11:38:39 AM
But seriously, I am trying to understand why the Bundesbank would repatriate so much gold. According to the Beeb, they moved it to New York for fear of a Soviet Invasion. Apparently they no longer fear Russia marching through Poland. They have left their gold in London also. But they have pulled gold from France and the US.

Possibly they fear that the French socialists will surrender to temptation. Or maybe they are worried that Glenn Beck will be the next President of the USA and steal all the gold in the world. Maybe they just feel warmer and safer with their gold at home where people can't give it to the Greeks.

Then again, maybe this is part of their plan to save the Euro or possibly replace it with the Gold Frank.

God only knows. The only thing that is certain is death, taxes, and that anybody who says anything about gold or fiat currency will be wrong, very, very wrong.
 
2013-01-21 11:46:10 AM

etherknot: It's ok. They left about $13 billion left in the aqueduct.

/I recall this plothole.
//


They left gold at the racetrack?
 
2013-01-21 11:52:14 AM
The Golden Rule is never let a nation controlled by a Democrat Criminal Syndicate hold your gold for you.

"Nice gold you got there. Shame if anything happened to it."
 
2013-01-21 12:38:46 PM

brantgoose: Then again, maybe this is part of their plan to save the Euro or possibly replace it with the Gold Frank.


Bringing the gold back from America makes sense, in that is is way the fark across the world and they're paying to store it over here. As for France, their banking system has been having problems, so a pull out doesn't seem too questionable.

Regarding leaving it in London, I have to wonder if the Germans are talking to the Brits about future banking cooperation, in that the Brits have stayed on the pound and avoided all the Euro issues. So leaving it there is a political move.
 
2013-01-21 01:44:16 PM
Dunno, seems pretty simple to me - the reasons for moving it offshore are no longer concerns, so might as well bring it back.
 
2013-01-21 01:46:33 PM

brantgoose: His Serene Majesty, Stephen Harper sports a jaunty new moustache as part of his new "King of Canada". And isn't that "30" Medaillon sweet? Was it a birthday present? And isn't it amazing how Grecian Economy Formula can take years off of you by gradually darkening your hair?


Whomever this man truly is, he's far, far more qualified to be the Canadian P.M. than Harper.
 
2013-01-21 01:51:22 PM
Hmm...

www.wearysloth.com
 
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