Something very strange is going on.
First Germany tried, but failed to bring back their gold from the NY Fed. Then the Netherlands tried, and succeeded in repatriating their gold. Now France’s best hope at true leadership, Marine Le Pen, is demanding that gold held abroad be brought back to France, in a letter she penned to the governor of the French Central Bank.
First Germany, then the Netherlands, perhaps Switzerland this weekend, and now the French right-wing Front National, which shockingly came first in May’s European parliament elections, and whose leader Marine Le Pen is currently polling in first place in a hypothetical presidential election (in both a first and run off round), ahead of president Hollande, has sent a letter to the governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated, or at least tried to, their gold.
From her letter, here is the full list of French demands (google translated):
- Urgent repatriation on French soil of all of our gold reserves located abroad.
- An immediate discontinuation of any gold sales program.
- Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%).
- A suspension of any financial commitment or loan contract would wager that our gold reserves.
- At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy.
Le Pen’s full letter here.
Now doubt Germany needs to do more of the US’s bidding in order to start getting some of it’s gold back.
The Dutch, well they simply agreed to muffle and suppress the facts surrounding MH17…and voila, gold back home.
France…well maybe cancelling the mistral deal with Russia will earn some type of a ‘golden’ reward for Hollande, that is if their is any gold left.
All signs point to a mad scramble amongst central banks for the remaining gold in Western (i.e. NY/Wall Street) vaults.