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Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

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Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#151

Post by erikb »

sandworm101 wrote: post #120
erikb wrote: post #36

> Gold is money, which is based on physical ownership, not on trust in the willingness and ability of another party to honor their promises. If you have gold, but you do not have it under your control, it is almost pointless to have gold. Really digging this one. That's why I proactively not listen to investors/consultants who suggest to buy some gold derivates for savety purposes. In other regards: What's the point…

Gold is no longer tied to power. Real estate now defines who is to be king. Look to the wealth funds of the middle east. They dont trade oil for gold these days. They buy land, the real international currency. The man with the most diversified land across many countries is king.

So... McDonalds and the Pope?

I wouldn't agree with what you say completely. I wouldn't say gold is replaced by real estate. That doesn't mean that real estate can't be a source of power, though.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#153

Post by h723787s8 »

mamon wrote: post #117
reitanqild wrote: post #116

Earlier quoted context omitted.

because the ultimate goal of EU was to give the Germans control over the Europe without using military force That sounds extremely fishy. Why would UK and France want to support a project like that? But, Switzerland is NOT an EU member, so that's a different story :) GP didn't say another EU member but rather a neighbour.

>>Why would UK and France want to support a project like that? They wouldn't, hence the Brexit :) Also, in the beginning it wasn't sole German domination, rather, it was German-French duopoly [1][2]. But now French economy got weaker, so that they are not equal partner to Germany anymore, and guess what? There are some politicians in France talking about Frexit [3], or at least giving up Euro as currency (which would…

I think these are not historical facts. Common wisdom has it that Germany was forced into the Euro by the French as a precondition for the reunification. This sounds at least plausible.

http://www.spiegel.de/international/germany/the-price-of-uni...

The new narrative of Germany using the Euro for domination is a bit off.

Note that "The Spiegel" is not a nationalist magazine, quite the opposite.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#154

Post by mschuster91 »

maehwasu wrote: post #152

The article really dances around the obvious answer to the question in the title: "because Germany is a conquered puppet state of the US."

Good grace. In Germany, this opinion is considered to be in the militant right wing spectrum (aka sovereign citizens/Reichsbürger movement), I'm surprised and disgusted to see this here on HN as the top-rated comment.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#155

Post by maehwasu »

mschuster91 wrote: post #154
maehwasu wrote: post #152

The article really dances around the obvious answer to the question in the title: "because Germany is a conquered puppet state of the US."

Good grace. In Germany, this opinion is considered to be in the militant right wing spectrum (aka sovereign citizens/Reichsbürger movement), I'm surprised and disgusted to see this here on HN as the top-rated comment.

The fact that Germany was conquered is an indisputable historical fact. Most people in the present day, myself included, are happy about that outcome. The fact, however, is clear.

I'll admit that speculating about US influence over Germany is more debatable, but I'm fairly amused that you're "disgusted" by that debate.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#156

Post by joosters »

tonfa wrote: post #15
rwmj wrote: post #10

Why do countries bother to hold gold? Wouldn't it be sensible to sell as much of it off as possible? (I'm asking like "ELI5" because I'm sure there is a reason)

They do. Switzerland sold more than half of their gold in the past 20 years, including all their holdings at the Federal Reserve in New York (that's like 1300 tons of gold that was sold, in comparison the hundreds of tons that are mentioned on the article for germany and netherlands). Not sure why the article doesn't mention that fact, maybe it doesn't feed into the FUD/conspiracy theory?

Absolutely. If people don't trust that the fed has all its gold, people would be wary of buying gold in there. But Switzerland managed to sell 1300 tons of it, presumably at reasonable prices for the time. That's a lot of buyers who don't worry about their purchases not existing.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#157

Post by ScottBurson »

mschuster91 wrote: post #154
maehwasu wrote: post #152

The article really dances around the obvious answer to the question in the title: "because Germany is a conquered puppet state of the US."

Good grace. In Germany, this opinion is considered to be in the militant right wing spectrum (aka sovereign citizens/Reichsbürger movement), I'm surprised and disgusted to see this here on HN as the top-rated comment.

It's not the top-rated comment; it's only 2 - 3 minutes older than your comment. HN puts new root comments at the top initially, so they have a chance to be seen. It might not have been upvoted at all before you saw it.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#158

Post by easilyBored »

JumpCrisscross wrote: post #138
erikb wrote: post #36

> Gold is money, which is based on physical ownership, not on trust in the willingness and ability of another party to honor their promises. If you have gold, but you do not have it under your control, it is almost pointless to have gold. Really digging this one. That's why I proactively not listen to investors/consultants who suggest to buy some gold derivates for savety purposes. In other regards: What's the point…

Gold sort of works for sovereigns. It's crap for individuals. Any situation where you need to rely on physical gold is a situation where someone else will take it from you by force.

The same principal applies to states, and that's why they shipped the gold to USA to begin with...to save it from the Russians.

Gold is for when that stuff hits the fan: no one will take your paper money or if they do, you'll need 50lbs of trillion billion dollar bills to buy a loaf of bread. By noon the price will double.

If you're net liquid worth is well into millions, why not have a few hundred gold coins laying around? You might lose money (compared to the stock market returns) but so what. Peace of mind. Never know. All eggs in one basket and all.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#159

Post by easilyBored »

erikb wrote: post #36

> Gold is money, which is based on physical ownership, not on trust in the willingness and ability of another party to honor their promises. If you have gold, but you do not have it under your control, it is almost pointless to have gold. Really digging this one. That's why I proactively not listen to investors/consultants who suggest to buy some gold derivates for savety purposes. In other regards: What's the point…

It seems the author is smart enough to know all this, so seriously: What's he attempting to achieve here?

Telling the truth. If there's a doomsday scenario USA might refuse to hand you the gold. He's saying that gold not in your hand is not really gold, because when you might need it everyone else will and they have it.

Re: Why Deutsche Bundesbank had to promise to leave 1200 tons of gold in New York

#160

Post by _0ffh »

mschuster91 wrote: post #154
maehwasu wrote: post #152

The article really dances around the obvious answer to the question in the title: "because Germany is a conquered puppet state of the US."

Good grace. In Germany, this opinion is considered to be in the militant right wing spectrum (aka sovereign citizens/Reichsbürger movement), I'm surprised and disgusted to see this here on HN as the top-rated comment.

Is it really? By whom? I've been to Germany a lot and I've met quite a few people who hold similar, if less extremely formulated views.
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