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Netherlands: Hey, Let’s Bring Our Gold Home

Jan. 17, 2013 2:03pm Becket Adams

Reports are coming in that the Dutch Christian Democratic Appeal party on Wednesday formally addressed the issue of repatriating the Netherland’s gold reserves, according to a (loosely translated) report from rtl.com cited by both Seeking Alpha and noted economist Jim Rickards:

Now #Netherlands wants #gold back bit.ly/S4Bj3L. My 2011 interview got that ball rolling bit.ly/zaBz7M. Cameo @laurenlyster

— Jim Rickards (@JamesGRickards) January 16, 2013

“Part of the Dutch gold stock is now in the basement of the De Nederlandsche Bank in Amsterdam,” the rtl.com report explains. “[The] Netherlands has 24 billion in gold. Only 11 percent of it is actually in the Netherlands.”

“The rest [was moved] just before the Second World War,” the report adds, noting that since being moved in 1938, 18 percent of the Netherland’s gold has been kept in London, 20 percent in Ottawa, and over half (51 keep) “deep under Manhattan in New York City.”

And for those of you who didn’t know, the Dutch actually have quite a bit of gold to their name:

The Dutch Christian Democratic Appeal Addresses Gold Repatriation

“All the Gold in the World displayed in gold buillion bars ranging in sizes as following: 1 gram, 5 grams, 10 grams, 20 grams, 1oz, 50 grams, 100 grams, 250 grams, 500 grams, 1 kg, 400oz. United States and World Government Gold Reserves and World Total Gold is visualized as well.” (demoncracy.info).

“The Dutch government says it has 612 tonnes of gold — with a value of around 24 billion euros — and is thereby in the top 10 of countries with the biggest gold reserves,” Netherlands Info Services explains.

The CDA’s motion to repatriate Dutch gold comes shortly after Germany’s central bank announced yesterday its intention to bring home approximately $36 billion worth of gold from the United States and France, TheBlaze’s Billy Hallowell reports.

“The Bundesbank said in a statement Wednesday that it will repatriate all 374 tons of gold it had stored in Paris by 2020. An additional 300 tons — equivalent to 8 percent of the Bundesbank’s total reserves worth about $183 billion — will also be shipped from New York to Frankfurt,” Hallowell notes.

However, although the move by both the CDA and the Bundesbank is noteworthy, it’s not entirely shocking. Indeed, as Netherlands Info Services reported in November 2012, the Germans and Dutch have been talking about repatriating their hard assets for some time now.

“More and more citizens, politicians and economists in Europe are questioning whether the foreign gold reserves, which their country possesses on paper, are still in fact physically there. Germany decided last month to move to verification,” NIS notes.

“In the next three years, the German Bundesbank is to recall about 4 percent of its gold reserves from America, at the same time looking to see if the ingots are pure,” the report adds.

Apparently, the Germans suspect someone has been playing around with their gold reserves.

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Comments (75)

tom0702
Posted on January 17, 2013 at 5:54pm
How can you blame any of them. Consider what the U.S. citizens thought about the money that they
were storing in our Social Security System. It turned out to be a heap of IOU’s from the treasury!

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- Chuck Stein
  Posted on January 17, 2013 at 10:25pm
  Looks like a run on the bank has started.
  
  Report this comment
- The_Cabrito_Goat
  Posted on January 18, 2013 at 1:57pm
  Take a look at how much gold (roughly) Iran has amassed….economic sanctions won’t do a thing if they have almost as much gold as India.
  
  Also I’d be interested to know how much gold Russia currently has.
  
  Report this comment
Serenabit
Posted on January 17, 2013 at 5:37pm
Just because the American people have “elected” to believe our current administration does not mean that other wold governments or populations believe the same rhetoric. This is proof that Obama has degraded the reputation of the United States in the eyes of its long time allies as well as the rest of the world.

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- Fireking151
  Posted on January 18, 2013 at 11:18am
  Its been going on longer then Just Obummer,Bush has alot to do with it also. Thats why we are in so many countries right now. Every dictator we have taken down was wanting to go back to the gold standard. Where we are on the oil standard. The house of cards are falling. And all the theives in Washington need to be stripped of their wealth,thrown in jail. Then revamp our political system.
  
  Report this comment
LBJDIDIT1963
Posted on January 17, 2013 at 4:27pm
If the US is are treating thier gold like the Feds print money and the Government steals from Social Security and Medicare, they are in for a real surprise!

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Abraham Young
Posted on January 17, 2013 at 4:22pm
There are reasons why various commodities are suited to be money substitutes, portability, divisibility, durability, etc. Bottom line is, paper is subject to fraud and abuse by certain government entities, run by Geithner, Bernanke, and the globalist regime behind them.

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MrKnowItAll
Posted on January 17, 2013 at 3:55pm
You can’t Eat It.
It isn’t Hydrocodone.
How many have died for a Gold Rock?

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- lel2007
  Posted on January 18, 2013 at 12:12pm
  Good you feel that way. Give me all your gold, I’ll give you food.
  
  Report this comment
nc_kayaker
Posted on January 17, 2013 at 3:30pm
so there might be some truth to why the twin towers were really taken out…

….THE GOLD underground!!!!!!

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- AbrahamsSheepdog
  Posted on January 17, 2013 at 10:56pm
  Yeah..and ugh..k whereas Libya gold..brozndahood maybe.
  
  Report this comment
Caniac Steve
Posted on January 17, 2013 at 3:25pm
If Germany,Franch & Now the netherlands are doing this..I wonder who will be next ? And why are they doing that at this time ?? hmmm Odd Time don’t you think ?

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KidCharlemagne
Posted on January 17, 2013 at 3:16pm
In 1971, this sort of “bank run” had a dramatic impact on the American standard of living in its aftermath….

To pay for both the Vietnam War and LBJ’s ‘Great Society’ simultaneously, then too many Federal Reserve bank notes had to be created than could ever possibly be redeemed for the fixed rate at that time of $35 per oz. of gold….and as foreign countries ‘lined up’ to redeem their bonds for actual gold, then inflation took off as all those dollars returned home from overseas and went into circulation inside the American economy.

This is a perfect example of Ron Paul’s “Welfare/Warfare” state paradigm that originally started him on his crusade for sound money almost 40 years ago….

On the flip side of this though, we don’t really use gold anymore as the collateral for the Federal Reserve Note either, so this is unlikely to cause the nasty inflationary side effects that we saw all throughout the majority of the 1970′s.

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- darkeningskies
  Posted on January 17, 2013 at 3:27pm
  Except the US will be going to a commodity backed currency very soon
  
  Report this comment
- Walkabout
  Posted on January 17, 2013 at 3:50pm
  You could use wheat to back money. You can’t eat oil.
  
  Report this comment
- ChiefGeorge
  Posted on January 17, 2013 at 5:29pm
  Its funny for all these countries who all should be fully aware of the banking scheme foisted upon them by the elites would chose now to ask for their gold back, when knowing full well what it will cause….Oh thats it isn’t?
  
  The real gold is not the gold itself but the USA as a whole. Thats the real prize! Many are vying for a shot at taking it in one piece. Good Luck!
  
  Lets see!
  
  Mandatory Health Care payments.
  
  Confiscation of Guns looming large.
  
  Collapse of economy imminent.
  
  Cash worthless.
  
  Run for nations gold.
  
  Seems to me the globalization scheme is unraveling and this sets in motion another scheme….WAR!
  
  Report this comment
TIMEBOMB
Posted on January 17, 2013 at 3:14pm
Dear loyal subjects as your magnificent gay Marxist ruler I want to assure you that eventually I’ll have to confiscate not only your guns,it’s a self preservation thing with me,but also my gold. I say my gold because it was never yours to begin with,I know I know you bought it at some point but that’s hardly worth mentioning because the most critical thing to think about is ensuring I remain in power over you,my grubby little servants. I’ll confiscate my gold like my hero FDR did and it won’t do any good as far as paying down the debt but it’ll look good to my brain dead worshipers,the whole class warfare thing,those idiots gobble that up like hungry dogs. When the dollar and economy collapses that’s when I insist you blame me your magnificent gay Marxist ruler,I wouldn’t have it any other way. I did you proud pops.

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ares338
Posted on January 17, 2013 at 3:05pm
Rut Roh!

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johnpaulkuchtajr
Posted on January 17, 2013 at 2:41pm
Let me put this article in perspective for all the pilgrims.

A wise old friend of mine once smiled and asked, “Son, have you ever tried to disperse a large crowd that is trying to break down your front door by throwing gold coins at them?”

Conical-shaped lead always trumps gold!

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- macpappy
  Posted on January 17, 2013 at 7:02pm
  Your friend might have been a bit senile, instead of wise. Besides, doen’t matter wheather is is conical shaped lead, or gold coin…..thrown hard enough it will all work.
  
  Report this comment
- HoratiusAtTheBridge
  Posted on January 17, 2013 at 11:14pm
  Hey MACPAPPY – Right on – did you see a movie with Peter O’Toole in it titled Lord Jim? In it he loads a cannon with gold – coins I think – and returns it at point-blank range when the pirates looking for it come busting in. BOOM. The ending of the movie is complete horse-crap but that part was cool.
  
  Report this comment
Walkabout
Posted on January 17, 2013 at 2:37pm
European gold was stored in the United States in case the Cold War became hot.

Europeans apparently trust Putin not to wage war more than than they trust Obama not to steal the gold.

Rebuttal by SemdtheMeteors

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- jrcess
  Posted on January 17, 2013 at 2:44pm
  I agree. Not a word has come out of Obama’s mouth that is not suspect!
  
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- Shasta
  Posted on January 17, 2013 at 2:50pm
  Me thinks they are too late.
  
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- ChiefGeorge
  Posted on January 17, 2013 at 5:34pm
  Its already been transfered to China because they held a strategic missile at our heads in late 2010. Remember that shot across our bow when Dear Leader went to India then onto the G20 summit? We launched QE2 then….we were warned by the Chinese not to do it….Dear Leader thumbed his nose at them. All the gold that was under NY is now tucked away safely in a Chinese vault.
  
  Report this comment
Beachmastermax
Posted on January 17, 2013 at 2:37pm
Just because we elected a “nieghborhood organizing extortionist and getto racketeer” you want to take your gold home!!!!

Racist!

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- hatchetjob
  Posted on January 17, 2013 at 2:39pm
  Not once, but twice.
  
  Report this comment
- dublinthewagons
  Posted on January 17, 2013 at 4:15pm
  They don’t think the gold is all there. Simple
  I doubt it is too. Obammy will talk them into taking second hand used china made crap instead.
  
  Report this comment
- macpappy
  Posted on January 17, 2013 at 7:05pm
  I don’t think that their “Racism” has ever been questioned? It is a totally white nation….
  
  Report this comment
- ree758
  Posted on January 18, 2013 at 6:57am
  He wasn’t elected it was get out the fraud
  
  Report this comment
progressiveslayer
Posted on January 17, 2013 at 2:32pm
All currencies eventually collapse that’s why they want their gold back.

Here’s a great article on fiat currency.

http://dailyreckoning.com/fiat-currency/

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- Walkabout
  Posted on January 17, 2013 at 3:23pm
  I have a [problem with using gold & silver as currency. Inflation has resulted when they debased their currency because they did not have enough precious metals to continue minting.
  
  On the other hand when they did not debase their currency, but supplies of silver & gold were scarce because veins had run out, whole regions experienced depression.
  
  These are historical examples. What do you propose?
  
  I think fiat currency can work.
  
  It can also fail very quickly for the same reasons as Democracies fail per Alexis de Tocqueville.
  
  Report this comment
- progressiveslayer
  Posted on January 17, 2013 at 3:45pm
  I’ve heard Lew Lehrman and others suggest that we return to the gold standard in fact Lehrman thinks it’s inevitable that we return to the gold standard. Currently we have nothing backing our currency just a promise from the fed that we’re good for it. No, I think the best route is the gold standard because it would reign in the fed and put an end to creating money from nothing. Remember all currencies fail at some point,I think the article said the dollar has lost 92% of it’s value since it’s initial issuance in 1913. Why should our currency be any different than all the others that failed? I think it’s a matter of time before the dollar collapses and I think it’ll happen when China decides to stop buying our debt.
  
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- Walkabout
  Posted on January 17, 2013 at 4:30pm
  No, I think the best route is the gold standard because it would reign in the fed and put an end to creating money from nothing.
  ***
  I am about there. I am totally there in regards to creating money from nothing. Too easy for the fed to increase the money supply hand in hand with a Democrat’s tax increases.
  
  In the mid 1980s in the magazine “Business Week”, there where the gold/yellow pages 2/3rds of the from the front. On the last of the gold pages of one issue there was a particular editorial on at describe how the Fed increase money supply, when politicians raise tax rates. The point of the exercise was so that Joe Schmoe had some money in his wallet so he did not feel squeezed by the tax policies of Washington politicians. They pointed out that the growth of credit would dwarf the physical money supply & this Washington 2 step would no longer work.
  
  I want that article. It was prescient. It described to a T the Washington tax & spend ways with the Fed playing gofer. I want that article to be able to quote with more credibility to more people.
  
  Report this comment
- Walkabout
  Posted on January 17, 2013 at 4:37pm
  I do not think there is enough gold given the amount of people in the world & the amount of work they do. If most everyone worked I do not think that would make things worse in this regard. It might make them very much better because after a while successful working people would not need social services.
  
  Take the amount of gold divide it into the product of 7 billion people & their work product?
  
  How many ounces per person?
  
  Some gold is locked up in historical artifacts. Some gold is used for tech. Not sure if there is enough gold.
  
  The 1880s & 1890s is interesting in terms of the ‘Free Silver” Movement & experiment.
  
  It seemed not to work. But having not studied it extensively I prefer not to say.
  
  Report this comment
- KidCharlemagne
  Posted on January 17, 2013 at 10:38pm
  progressiveslayer
  Posted on January 17, 2013 at 3:45pm
  Currently we have nothing backing our currency just a promise from the fed that we’re good for it.
  =========================
  
  Actually, that’s not true….
  
  Report this comment
hatchetjob
Posted on January 17, 2013 at 2:29pm
In the Bible it speaks of “nation shall rise against nation and kingdom against kingdom” and then the end shall come. It’s in Matthew chap 25 I think. Maybe this is the beginning of the end.

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- milo75
  Posted on January 17, 2013 at 4:33pm
  Read the New Yorks best seller Harbinger?
  
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- ChiefGeorge
  Posted on January 17, 2013 at 5:36pm
  The Bible also notes that the rich men of the earth will throw their gold and silver into the streets because it will eventually be worthless.
  
  Report this comment
Cavallo
Posted on January 17, 2013 at 2:28pm
Would YOU trust these people in power with your precious metals? Only a fool would.

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- barber2
  Posted on January 17, 2013 at 2:33pm
  I don’t trust them with the safety and security of our nation.
  
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gyro
Posted on January 17, 2013 at 2:25pm
if everyone calls in thier gold will there be enough?

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- progressiveslayer
  Posted on January 17, 2013 at 2:40pm
  If you’re talking about our debt no there isn’t enough gold in the world,we are 100 + trillion in the hole and we aren’t getting out of it.
  
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- Walkabout
  Posted on January 17, 2013 at 4:40pm
  100 trillion is due to unbacked promises that unscrupulous people with Juris Doctorates (a.k.a most politicians) made.
  
  There are going to have to be some write downs or renegotiations.
  
  Do any of these politicians know what an actuary or account can do?
  
  Report this comment
environmentalandawake
Posted on January 17, 2013 at 2:23pm
Me smells a World Conflict on the Horizon!!! Be Afraid, Be very Afraid!!!!!!!!

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Snowleopard {gallery of cat folks}
Posted on January 17, 2013 at 2:21pm
They have good reason to fear for their reserves, I wonder if the gold is still there.

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Eastinfection
Posted on January 17, 2013 at 2:16pm
this is really good way to start a huge, economic sh1t storm.

if you’re broke but you’ve got some precious metals to sell, tomorrow may be the day to do it.

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- DadRocked
  Posted on January 17, 2013 at 2:23pm
  Not yet EAST…
  and when one does do it piece by piece…
  
  and don’t forget the poor man’s gold… Silver.
  
  Report this comment
Freedom_Czar
Posted on January 17, 2013 at 2:16pm
All of the gold in the world will not help our country if we keep spending the way we are…..

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- jarhead7052
  Posted on January 17, 2013 at 3:45pm
  There, sir, you’re right. Our current debt (the little number, not the unfunded liabilities) of 16 trillion dollars equates to almost 400,000 tons of gold. Adding up the reserves of all the countries in the picture in the article gives less than 50,000 tons. The only way to pay off our debt is to stop borrowing, and continue selling off our country’s resources and land. OR we can just wait until the taxes imposed upon our children, grandchildren, and great grandchildren are high enough to pay it off. OR, we can force the US government to stop borrowing, reduce the tax rates on individuals and businesses, get rid of the stifling regulations on businesses, then watch the economy roar, the tax revenue to the government skyrocket, and our debt go away in less than 25 years. BUT, having complete faith in human nature, I fear we’ll sit on our @sses, borrow like an addicted gambler on a losing streak, and wait until the economy collapses so we can all play caveman for a century or two, then blame it all on Bush-43.
  
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- macpappy
  Posted on January 17, 2013 at 7:06pm
  Well, actually; the only thing that help us is all the gold in the world. It kinda pays for the spending.
  
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banjarmon
Posted on January 17, 2013 at 2:12pm
It’s just colored metal…big deal!!!

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- Walkabout
  Posted on January 17, 2013 at 3:26pm
  Fiat money works. It works when honest men print the proper amount.
  
  It does not work when men try to curry favor with elected politicians or try to cover for their policy mistakes.
  
  Report this comment
RightUnite
Posted on January 17, 2013 at 2:12pm
Hey yeah…. Good luck!! You’ll have to pry them outta Obama’s fingers…. IF he doesn’t spend it all on his re-election party!

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SocialistSlayer
Posted on January 17, 2013 at 2:11pm
Ut-Oh The Party is over !

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shorelineliz
Posted on January 17, 2013 at 2:05pm
Gold? What gold? I don’t see any gold around here. Psyche!

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