Hungary repatriates 100,000 ounces of gold stored in London

[LittleJohnSilver]

This looks interesting. Virtually nothing being  reported in the MSM.

https://www.zerohedge.com/news/2018-03-13/hungarys-central-bank-repatriate-its-gold-london

"The leadership of the Hungarian National Bank (MNB) has decided to bring back home Hungary’s gold reserves.

Up to now, 100,000 ounces (3 tons) of the precious metal were stored in London, which is in total worth some 33 billion forint ($130 million) at current gold prices.

The decision seems to be in line with international trends as storage of gold reserves out of the country is now considered risky by more and more central banks. Austrian, German, and Dutch central banks are among those who have recently decided to repatriate their gold reserves. According to MNB, this may also further strengthen market confidence towards Hungary.

MNB has been holding gold reserves since its foundation in 1924. Towards the end of World War II, it had been transported to Austria on the famous Gold Train, captured by the Americans, then repatriated in full in 1946.

The highest amount Hungary has ever had was around 65-70 tons at the beginning of the 70s. At the end of the 1980s, however, a decision was made to decrease gold reserves to the lowest possible level and rather to invest in sovereign debts, which as a consequence of the collapse of the Bretton Woods system are considered safer, more liquid and potentially of higher yields. At the beginning of 2010 this tendency changed again and central banks started to accumulate gold as a potential response to the financial crisis.

The Largest gold reserves in the world belong to the US and Germany, while in comparison to other Central-European countries Hungary has one of the tiniest amounts of the precious metal; for instance, Romania and Poland both have 103 tons, and Serbia has 13 tons. Since 1992, Hungary’s activity has remained steady, as the MNB hasn’t bought or sold any of its gold reserves."

[Lowlow]

I don't know much about Hungary ... until now, they have some smart people there.

[Roy]

Dreadful airport! 

[sixgun]

This is interesting.

Sovereign state gold reserves are being repatriated from London as it is seen as increasingly risky to have them held outside the country. This is code for they believe the gold will disappear, that it will be stolen.

I expect the gold has been leased out (now someone else is going to have their gold 'borrowed') - there was so much fuss about sending back some of the German gold (most of it has not been repatriated yet) with the Germans eventually getting bars which weren't the original bars.
The more gold that gets pulled out of the grasp of the criminal cartel the sooner it will collapse.
 

[MancunianStacker]

I believe Hungary bailed in all their citizens private pensions to pay for the public pension deficit about two years ago. I did a short video on it on my YouTube channel. Another broke EU country.

[LittleJohnSilver]

53 minutes ago, sixgun said:

This is interesting.

Sovereign state gold reserves are being repatriated from London as it is seen as increasingly risky to have them held outside the country. This is code for they believe the gold will disappear, that it will be stolen.

I expect the gold has been leased out (now someone else is going to have their gold 'borrowed') - there was so much fuss about sending back some of the German gold (most of it has not been repatriated yet) with the Germans eventually getting bars which weren't the original bars.
The more gold that gets pulled out of the grasp of the criminal cartel the sooner it will collapse.
 

I thought Germany got all it's gold back by 2017? Or rather 50% returned to their Frankfurt vault with the remaining bars checked by German officials for authenticity before leaving it in New York and Paris.

[sixgun]

4 minutes ago, LittleJohnSilver said:

I thought Germany got all it's gold back by 2017? Or rather 50% returned to their Frankfurt vault with the remaining bars checked by German officials for authenticity before leaving it in New York and Paris.

Were the bars drilled? Who is to say the bars were property of Germany? The Germans did not get their original bars back, so they could have been shown anything. They might have confirmed genuine bars but there is no proof they were property of Germany. Until you are walking out the door with the bars the bars could be anyone's or there may be many claims on the bars. There may be no other claims on the bars and then after you have checked the paperwork and left the building there are 500 claims on the gold. Unless you hold it you don't own it.

[LittleJohnSilver]

It certainly does make you think.

When governments start taking their gold back but want us to continue using paper, somethings afoot. It certainly does make you think.

When governments start taking their gold back but want us to continue using paper, somethings afoot.

[Tn21]

Sourcing that amount of Gold is no easy task, its almost near impossible 

If their 3 ton of gold is in London still by no means will the city of london give that back with ease. 
 

[Lowlow]

It's definitely a smart move.

The central bank of ME believes in possessing physical precious metal instead of promises.

[Tn21]

1 hour ago, Lowlow said:

It's definitely a smart move.

The central bank of ME believes in possessing physical precious metal instead of promises.

Yes physical gold is a better option then paper gold deefinately 

[ilovesilverireallydo]

13 hours ago, sixgun said:

Sovereign state gold reserves are being repatriated from London as it is seen as increasingly risky to have them held outside the country. This is code for they believe the gold will disappear, that it will be stolen.

 

There are many theories that the Feds and British Treasury dont actually have the gold that their Vaults should be holding, their own as well as others.

[augur]

13 hours ago, LittleJohnSilver said:

I thought Germany got all it's gold back by 2017? Or rather 50% returned to their Frankfurt vault with the remaining bars checked by German officials for authenticity before leaving it in New York and Paris.

Germany repatriated gold from France only. The gold at the FED and BOE will not be repatriated. 

The official tenor is as follows: The gold was taken away as Germany was within the reach of the Soviet Union. Now that this threat is over some was returned. The Gold in London and New York will remain to buffer exchange rate fluctuations, which won't be necessary with France as it is within the Euro Zone.

I agree with @sixgun: the gold is gone and the Germans can be happy that not all was stolen and indeed a small fraction was actually returned. Also, how many decades ago was the last full audit on the gold in any of those central banks?

[Martlet]

A question for the "gold is gone" theory: where is it then? 

[PansPurse]

1 minute ago, Martlet said:

A question for the "gold is gone" theory: where is it then? 

Maybe they have it but there's now a dragon infestation sitting on it and they don't want to cause alarm?

[augur]

28 minutes ago, Martlet said:

A question for the "gold is gone" theory: where is it then? 

Every gold bar has a serial number making it unique. The central banks are supposed to keep your bars as a custodian and return them on request or make them available for audit. In case of the German Gold, the bars returned had different numbers and were produced rather recently. The fact that the FED won't allow an audit of the German Gold leads to the assumption that the original bars have been melted and sold. (It even seems that only one selected vault of US gold has been assessed in the last decades)

Since you cannot trace a melted down bar it is impossible to say where it is now. Most likely those gobbling up physical gold like China and Russia will hold a proportion.

[sixgun]

33 minutes ago, Martlet said:

A question for the "gold is gone" theory: where is it then? 

Where does anything think the thousands of tonnes of Chinese and Russian gold has come from? The official amount China and Russia have is Russia has 1,857.7 and China 1,842.6 tonnes. What utter rubbish - simply following the exports of gold out of the US and UK shows gold has been leaving it huge quantities and virtually all of it can be tracked to Asia. I would be surprised in their combined holdings were less than 50 000 tonnes.

The stablisation of currency? The gold is gone. Initially they said it would take years to return the gold to Germany. Why would it take years, other than it wasn't there? What was returned was not original bars, this is immediately a red flag.The gold was gone so another excuse had to be created to cover the gold supposedly held in the US/UK - 'exchange stabilisation'.

The demented psychopaths who have created this nerve gas farce perhaps think they can win a war against Russia and march in to steal the gold like they have in so many other countries.

There is no gold or at the very least it is rehypothecated to infinity and to unwind the positions who collapse the gold fixing system sooner than it would otherwise. There is no evidence the Russians gassed anyone and when confronted the UK government have refused to provide any evidence. The controlled media skip over the need for facts and evidence but of course this is a post fact world we're in don't you know.

[LittleJohnSilver]

52 minutes ago, Martlet said:

A question for the "gold is gone" theory: where is it then? 

Pablo Escobar's infamous gold toilet seat!

[sixgun]

3 minutes ago, augur said:

Every gold bar has a serial number making it unique. The central banks are supposed to keep your bars as a custodian and return them on request or make them available for audit. In case of the German Gold, the bars returned had different numbers and were produced rather recently. The fact that the FED won't allow an audit of the German Gold leads to the assumption that the original bars have been melted and sold. (It even seems that only one selected vault of US gold has been assessed in the last decades)

Since you cannot trace a melted down bar it is impossible to say where it is now. Most likely those gobbling up physical gold like China and Russia will hold a proportion.

Of course you and i suspect there is no German gold, of course there is no gold. That is a given but as well as that there is no Germany. There is no United States either, that got wound up in the 1933 bankruptcy by the receivers - the international banking cartel. Everything is a lie, it is all an illusion.

[PansPurse]

4 minutes ago, sixgun said:

Of course you and i suspect there is no German gold, of course there is no gold. That is a given but as well as that there is no Germany. There is no United States either, that got wound up in the 1933 bankruptcy by the receivers - the international banking cartel. Everything is a lie, it is all an illusion.

[Citation Needed]

[LittleJohnSilver]

3 minutes ago, sixgun said:

Where does anything think the thousands of tonnes of Chinese and Russian gold has come from? The official amount China and Russia have is Russia has 1,857.7 and China 1,842.6 tonnes. What utter rubbish - simply following the exports of gold out of the US and UK shows gold has been leaving it huge quantities and virtually all of it can be tracked to Asia. I would be surprised in their combined holdings were less than 50 000 tonnes.

The stablisation of currency? The gold is gone. Initially they said it would take years to return the gold to Germany. Why would it take years, other than it wasn't there? What was returned was not original bars, this is immediately a red flag.The gold was gone so another excuse had to be created to cover the gold supposedly held in the US/UK - 'exchange stabilisation'.

The demented psychopaths who have created this nerve gas farce perhaps think they can win a war against Russia and march in to steal the gold like they have in so many other countries.

There is no gold or at the very least it is rehypothecated to infinity and to unwind the positions who collapse the gold fixing system sooner than it would otherwise. There is no evidence the Russians gassed anyone and when confronted the UK government have refused to provide any evidence. The controlled media skip over the need for facts and evidence but of course this is a post fact world we're in don't you know.

And let's not forget, if a country wanted to move a few thousand tonnes of gold, it wouldn't be some elaborately complicated exercise.

A tonne is a tonne regardless of material. Germany's alleged gold total of 674 ish tonnes is equal in weight to roughly 10 German Leopold 2 Main Battle Tanks which can be transported with utter ease on the back of tank trailers. Nothing complicated whatsoever about moving weight from one location to another. All that is needed is a few hundred military trained men with guns.

I wonder what would happen if Germany, or any other country that has their nations gold stored in New York/Paris/London, demanded ALL their gold back or face military action. It would be the ultimate game of who will blink first.

[sixgun]

28 minutes ago, sixgun said:

Of course you and i suspect there is no German gold, of course there is no gold. That is a given but as well as that there is no Germany. There is no United States either, that got wound up in the 1933 bankruptcy by the receivers - the international banking cartel. Everything is a lie, it is all an illusion.

 

24 minutes ago, PansPurse said:

[Citation Needed]

Ask  @augur -

[sixgun]

20 minutes ago, LittleJohnSilver said:

I wonder what would happen if Germany, or any other country that has their nations gold stored in New York/Paris/London, demanded ALL their gold back or face military action. It would be the ultimate game of who will blink first.

The gold is gone. G - O -N - E

A slave or a puppet does not make demands. One could say Germany is still at war - WWII never ended - the National Socialist government never surrendered. Germany is under occupation. Germany does not really exist. When you have to prove you are connected to a Germany before 1914 to be a German citizen, then it makes me think this is b/c there is nothing to connect to today. Germany ceased to exist so there is nothing to connect to, only a past entity, the Imperial state prior to 1914.

[LiX]

Hungary is trying to take back their gold while comparable amount fell off from the sky in Siberia today

https://www.express.co.uk/news/world/932132/siberia-gold-diamonds-treasure-plane-chukota-mining-russia

 

[augur]

1 hour ago, PansPurse said:

[Citation Needed]

Sorry, what was the question?