The theory about the disappearance of U.S. treasuries gold ceased to be merely fodder for conspiracy theorists. Today you can hear similar opinions also with many influential people.
Over a year ago, in the text of "Mysterious disappearance of U.S. gold" discussed about the global gold reserves located within the United States. I suggested then that there are a number of reasons, which seem to indicate that the famous vaults in New York are in fact empty and all the gold bars have been exported from there. As it turns out, despite the passage of time this story is gaining a growing number of supporters of the so-called supporters. conspiracy theory that the more pessimistic investors to live, but also among influential politicians.
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Barack Obama won the last presidential election in the United States resulted in a sharp increase in the price of gold on world markets. It seemed that they are very skeptical of the promises of the American president talking about the healing powers the global economy limping. A sudden rise in gold prices seems to be a sign of growing concerns of many people about the future and what will happen in the coming months. Among other things, it just became a source of growing concern and bars of gold coins, which slowly began to acquire the ordinary citizens who want to protect themselves against possible hyperinflation.
Where the risk of sudden hyperinflation? One of the reasons seems to be primarily a still declining confidence in the dollar, as well as more serious concerns about whether the U.S. treasuries is actually any gold.
Since the end of World War II in the U.S. hit most of the world's reserves of this extremely precious metal. This was due to the fact that during the war (as well as after its completion, for fear of the Warsaw Pact), many European countries feared that within their territory of the gold resources can be looted by the enemy. For this reason, substantial amounts of staff have been transported by the Atlantic Ocean, straight to New York.
Years passed and the confidence of U.S. treasuries remained consistently high, everyone knows where the gold is, but few people interested in the status of these reserves to even check. Why, when others also do not have doubts? In this context it is worth mentioning repeated many times in the history of the situation when the greedy banker, firmly convinced that all the stores in the vault custodian is not present themselves at the same time for their gold, he decided to invest some of the reserves held and reap the substantial profits. Unfortunately, the reported stories almost always end up in the same way - at some point someone was losing confidence in the banker and began to undermine his credibility, took their gold and moved them to safer place. Opinion about this event reaches the other, and thus slowly crumbled resources in a vault until it turned out that it is willing to select more than gold, which in the meantime by the bankers in different places, "invested".
The first suspicious
In the case of American gold can act very similar mechanism, first signals come to us for some time. Just remember a few years forced on the idea of an audit in the vault of the Federal Reserve and thus verify if in fact there is gold. At the same time, however, skeptical voices are raised outside of the U.S.. The loudest and most consistent at the same time proved to be, in this case the president of Venezuela, Hugo Chavez.
He requested for return by the United States entirely owned by the state reserves, which has so far kept in U.S. treasuries. The decision to return was made of gold in the autumn of 2011, as reported to the Central Bank of Venezuela, the country had to go back almost 160 tons with a value exceeding $ 11 billion dollars. It is worth noting that this act not only undermined the credibility of the Federal Reserve, but also the Bank of England, where he also kept substantial reserves of gold. In a commentary for television RT Adrian Salbuchi said that this gesture is primarily symbolic, because it undermines the credibility of Western banks as places where the state can confidently hold their reserves in gold.
In this case, vaults opinion, however, has not been tarnished so much as it probably was counting on Hugo Chavez. The President of Venezuela has in fact adventurer opinion and the person is not a declaration should always be taken seriously. Moreover, his decision very quickly justified, inter alia, the fact that Chavez is needed gold to get guarantees for further loans from China, and to boost the integration promoted by the Latin American countries.
German gold
Undermining the credibility of such a respected institution like the Fed or the Bank Of England by the likes of Chavez's policies do not have to compromise especially those institutions. Moreover, even if in fact they have less gold than declare on paper, it still would be able to accumulate the 160 tons of gold and give them Venezuela. Definitely worse if the state requests the return of gold with much larger reserves and at the same time of good repute. Such a state may be Germany, which since the beginning of the year are treated seriously and demands the return of reserves back into the country. Germany amazingly well to cope with the crisis in the euro area over the years also are considered to be the country in which will not be taken lightly, and the spur of the moment. In Germany in the near future audit will be conducted of the local central bank (Bundesbank) and therefore will be subject to verification of the huge amounts of gold outside the country (mainly in France, England and the USA). Audit is to be a prelude to initiate the transfer of German gold back to the country. Therefore, the recovery of more than 3,000 tons of reserves (according to the World Gold Council) may be an important signal to other countries. From there it is only a step to panic.
