Wednesday, January 16, 2013

Why Will it Take 7 Years For Germany to Get it's Gold Back?

"So Germany has asked for the gold stored at the Fed to be returned to Germany. The amount of gold the US supposedly has stored for the Germans is 1,536 tons. This can certainly be shipped to Germany. Yet it’s going to take 6 or 7 years to return a small portion of the gold to Germany? Why?

They ship much more oil than gold. This is ridiculous. What do they expect? Do they expect the gold to blow up? Last I heard gold doesn’t even oxidize or even tarnish, much less blow up. Why can’t they just load it on a ship or on planes and send it? Something doesn’t add up here, Eric.

The reality here is that the German gold has been leased out and it’s not sitting in the vault. So the Fed has agreed to return very small portions of the German gold each year, which is supposedly stored at the Fed. Well, the gold isn’t there and that’s why it is going back to Germany in small portions each year."

- Stephen Leeb, via a recent King World News Interview, read the full interview here: