Submitted by SD reader Jack
Sometimes we need to look back in history to “connect the dots”. In 1999 Gordon Brown started selling England’s gold into the market place. This was done by auction and announced. Coordinated as if it was meant to keep prices low. Most people think Gordon Brown was just stupid. It would now appear that we have now found the reason for this market manipulation of gold at the time.
The 400 tons of gold that Gordon Brown dumped on the market between 1999 and 2001 (60% of the UK’s gold reserves) likely went DIRECTLY TO THE BULLION BANKS FOR THE SOLE PURPOSE OF MEETING THE BUNDESBANK’S 1000 TON GOLD REPATRIATION REQUEST!!
If Germany was demanding it’s gold of roughly 1000 tons, which likely had already been rehypothicated, it would have caused an explosion in prices to accumulate that much gold to cover Germany’s demand.
Mind you, this request for the repatriation of their gold probably came years before they received it. England was obligated to see to it’s return and coordinated with it’s Bullion Banks who were in trouble as they had already sold it into the market place and could not get it back.
England publicly announces it is selling its gold which catches the market by surprise and keeps prices low, while the Bullion Banks accumulate enough gold to honor Germany’s request of the return of 1000 tons.
The 400 tons of gold that Gordon Brown dumped on the market between 1999 and 2001 (60% of the UK’s gold reserves) likely went DIRECTLY TO THE BULLION BANKS FOR THE SOLE PURPOSE OF MEETING THE BUNDESBANK’S 1000 TON GOLD REPATRIATION REQUEST!!
Once all the dots are revealed, they start to make sense. China probably learned of this some time ago and another reason they have been accumulating so much gold.
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Very informative, thanks Jack. :)
Yep, thought provoking article Jack. Keep it up.
Canada also dumped all of our gold around the same time.
Yup and that sucks! The worst part is that the majority of the Canadians didn’t even care about it. They are all happy about the latest digital currency that will replace the cash system in the Canadian dollar which is called “Mintchip”.
How does this fit in with what James Turk is saying over on KWN?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/25_James_Turk_-_The_Entire_German_Gold_Hoard_Is_Gone.html
They’re talking about a piece that James Turk wrote back in 2001.
Just finished reading The James Turk article referred to above called Behind Closed Doors.
http://www.fgmr.com/behind-closed-doors.html
In Federal Reserve Transcripts from the 1990′s it is confirmed that the Exchange Stabilisation Fund used gold swaps. The Exchange Stabilisation Fund is used for this activity because it does not need Congressional Approval to swap gold. The Federal Reserve Transcripts confirm that there were swap arrangements between the ESF and the Bundesbank. So you put two and two together and you have gold swap activity going on between the Bundesbank and the ESF.
Secondly the definition of 1700 tons stored at Westpoint changed from “Gold Bullion Reserve” to “Custodial Gold” between August and September 2000. What is suggested in this article is that gold was urgently needed to bail out Bullion Banks whose gold escapades had gone pearshaped. Therefore Germany ended up with the gold at Westpoint while the gold in London was dumped on the market to bail out the bullion banks. James Turk through his analysis discovered that in 1998 and 1999 approximately 1000 tons of gold appeared on the market through the Exchange Stabilisation Fund.
Maybe this is exactly what happened. Who knows for sure. Someday soon I think these Central bankster cockroaches are really going to start scurrying for cover as the light starts to shine on them.
Of course Turk is correct. The gold swaps started way before then…mid 90′s or before when Rubin was Sect of the UST.
Some of this gold disinformation and propaganda is documeted back into the 70′s and 80′s.
From what I understand of the 300 plus tons of gold sold by Gordon Brown around 2000 this was to help Goldman Sachs out of a gold trade gone wrong.
You’re right. “It has recently been revealed why Gordon Brown sold the bulk of Britain’s gold between 1999 and 2002 for pennies on the dollar; Brown did it in a bit to help safe gold price suppressors such JP Morgan and Goldman Sachs at the time” http://goldinvestment.co.za/gordon-brown-cost-britain-a-pretty-penny.html
@59LesPaul Thanks for your excellent precis. There’s something about the dates that’s puzzling me. The article suggests that Germany’s swap with the Fed occurred in the mid 90s. There is no suggestion that this swap was like for like. Did I miss something? I got the impression that Germany pawned its gold for dollars. The dumping of gold on the market between 1999 and 2001 by the ESF, Britain (and Canada, according to @Twisty) sounds like it was precipitated by some other event, such as the bullion banks getting caught with their pants down. A detailed timeline would be valuable here.
Meanwhile, back to today. We’ve got Venezuela repatriating their gold reserves from Britain. Germany yelling for its gold in France, the UK and the US to be audited (and repatriated). Romania timidly asking Russia for its gold back and now… the Netherlands are starting to get nervous.
Methinks Jim Rickards is doing a great job on his book tour.
Has anybody noticed that since the news ‘broke’ about Germany’s missing bullion, gold has been trading sideways in the Euro?
I wonder what next…
I’m wondering why would England meet Germany’s demands for physical gold by selling their own golds. I’m sure it’s because there weren’t any more gold in the bullion banks. Also, the way Germany got their gold from Brown’s sales back in 1999 and 2001 sounds logic.