Tag Archive: Bundesbank

New Gold Pool at the BIS Switzerland: A Who’s Who of Central Bankers

A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as the London Gold Pool.

New Gold Pool at the BIS Basle, Switzerland: Part 1

“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”...

Sweden’s Gold Reserves: 10,000 gold bars (pet rocks) shrouded in Official Secrecy

In February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the Riksbank physically audits Sweden’s gold and whether it would provide me with a gold bar...

To The Asian ‘Dollar’, And Then What?

The Bretton Woods system was intentionally set up to funnel monetary convertibility through official channels. The primary characteristic of any true gold standard is that any person who wishes can change paper claims into hard money. It was as much...

Germany’s Gold remains a Mystery as Mainstream Media cheer leads

On 9 February 2017, the Deutsche Bundesbank issued an update on its extremely long-drawn-out gold repatriation program, an update in which it claimed to have transferred 111 tonnes of gold from the Federal Reserve Bank of New York to Germany during...

L’Allemagne est le patron-sponsor de l’Eurosystem.

Lors des échanges commerciaux et interbancaires, il y a des banques émettrices de monnaie et vis-à-vis une banque réceptrice. Normalement, à la fin de la journée, tout cela devrait être ramené à l’équilibre. Ceci n’est plus le cas depuis la crise...

European Central Bank gold reserves held across 5 locations. ECB will not disclose Gold Bar List.

The European Central Bank (ECB), creator of the Euro, currently claims to hold 504.8 tonnes of gold reserves. These gold holdings are reflected on the ECB balance sheet and arose from transfers made to the ECB by Euro member national central banks,...

Negative Rates for Bundesbank TARGET2 Surplus?

The ECB surprised with negative rates on excess reserves, on the deposit facility and even on TARGET2. We clarify whether the Bundesbank, as a member of the euro system, must pay negative interest rates on its huge TARGET2 surplus.

Germany: Last European Country with Lots of Cash Under Matresses

In June 2014, the ECB decided to introduce negative rates on the excess reserves of banks. We explain that German banks had already removed most excess liquidity before the ECB meeting of June 2014, and they will continue to do so. Hence hardly any...

ECB Measures Background: How to Reduce German Competitiveness and Talk down the Euro

In our view, the ECB measures of June 2014 want to increase German lending, spending, salaries and inflation. Finally they target a reduction of German competitiveness. The ECB wanted to talk down the euro but will not succeed. We explain why the...

The European Transfer Union From North To South and from Poor to Rich between 1999 and 2007

Cheap ECB rates and rising home prices helped to enrich Southern Europeans between 1999 and 2007. Germany's middle-class and poor, most of them not owning a home, were the ones that financed it.

The Big Swiss Faustian Bargain: Differences between SNB, ECB and Fed Money Printing Explained

Potential losses due to money printing are for the Fed: 1.2% of GDP, Bundesbank: 5% of GDP, SNB: 12% of GDP.

German Economists and Merkel, the Implicit Followers of the Gold Standard

With ECB's OMT & "conditionality", that requires austerity and implicitly reduction of salaries in European periphery, Merkel & German economists have created consequences similar to a gold-standard.