Clouds are gathering over the "Fort Knox": the world exports gold from the United States
May 01, 2019

Clouds are gathering over the "Fort Knox": the world exports gold from the United States

More and more countries of the world that kept their own gold reserves in what seemed until recently the most reliable on the planet, the "bins" of the United States of America, are lining up to take out the precious metal. And okay it was only on those States which have created serious tensions with Washington. Even the most seemingly reliable us allies from Europe seek to return home their gold.

What is the reason for such actions and what can they lead to? A dozen years ago, the list of States that entrusted their main asset to the considered impenetrable granite-concrete walls of Fort Knox and the basements of the Central reserve Bank of new York (these two places are the main storages of precious metals in the United States), passed far over fifty. According to the leaders of various countries, the piles of gold that form the basis of their financial stability, in these places were reliably protected from any threats posed by wars, revolutions and other cataclysms. Again, why keep the "yellow metal", has long been transformed from a monetary standard in the usual goods away from the new York commodity exchange, which carried out the main transactions with him? Transport (especially across the ocean) and troublesome and expensive – one insurance is worth it!

Everything began to change after the global crisis of 2008-2009, when many countries seriously thought about how "indestructible" the us economy and financial system really is. "Pioneers" in the issue of "Golden repatriation" were Venezuela and Germany. Hugo Chavez, quite rightly believing that sooner or later his country will face open pressure and aggression from the United States, very wisely withdrew from there 176 tons of Venezuelan gold for 9 billion dollars. Today's events show – the late leader, the earth to it down as in water looked! Cost begin all known events in Venezuela, as the Bank of England (undoubtedly at the behest of Washington), "punished" Caracas on 1.2 billion dollars, "freezing" placed there gold.

Based on this, it is not surprising that Turkey has "evacuated" its own gold reserves from the United States in a hurry. Relations between the countries are about to finally reach a boiling point, threats from the White House and the state Department to Ankara are already, in fact, continuously, and the "charms" of American sanctions aimed at the collapse of their economy, the Turks have already tasted plenty. For the purchase of the Russian S-400, from which Ankara does not intend to give up under any circumstances, Washington and does threaten it with all the "punishments of heaven." It is obvious that it is on the basis of the reality of such a prospect that the Turkish authorities removed from the United States more than 28 tons of gold from the state reserve. Following this, the Turkish commercial banks did the same, returning to their homeland the gold stored overseas.

As for Europe, for example, more than 20% of its own gold reserves (120 tons), stored in the United States, seized from Holland. Today, according to available information, similar decisions have been taken by the governments of Belgium and Italy. For Germany, which, as mentioned above, attended to the return of their wealth from the American storage of one of the first, this process resulted in a long and rather unpleasant procedure. The Bundesbank appealed to the overseas "allies" with the appropriate treatment in 2012, however, the case suddenly stalled. The reason for the delay was simply shocking – the ingots handed over to the "most reliable in the world" by the zealous Germans were simply not in place! This was irrefutably proved when the return process was finally initiated. The United States gave Germany is not the gold that received from it. The markings on the pleasantly gleaming heavy bars did not match perfectly! The scandal, as you know, happened pretty – because Berlin trusted the Americans more than a thousand tons of its own gold reserves!

This bad case is not the only one that casts a very deep shadow on the reputation of the United States as a country that can be trusted with its own national heritage. There are still persistent rumors circulating about gold bars received from the US by China, which turned out to be, so to speak ... not quite gold. It seems to be, and not officially confirmed, but it is unlikely there is smoke without fire. And what to say, if the most fertile ground for the spread of such sensations is given by the fact that no audit has been conducted in the us gold vaults for more than half a century! According to official data, more than 260 million ounces of the most beloved by Americans, which is real gold from all over the world, continue to remain safe and sound there. The problem is that no one can actually confirm this figure. Any attempt to appoint an audit is broken down by a categorical objection from the us Congress. Why would they?

The reasons why the "brook" of the outflow of gold from the United States is increasingly turning into a full-flowing "river" can be reduced to three main ones: first, the reluctance of States to become hostages of foreign policy quirks of Washington, which has a habit at any moment to terminate previously reached agreements, to start a trade "war", to impose sanctions, and even to declare someone a sponsor of terrorism. Well, these "allies" are likely at any moment to lay hands on someone else's gold and even to come up with this "legitimate" justification!

Secondly, all of the above things further, the more reduce confidence in the us dollar as the main world reserve currency. Who knows what kind of confrontation the us economy may finally be squeezed? Too many analysts and experts in the world do not see positive prospects for it in the near future. For the US financial system in particular. So gold – their own, and even stored, as they say, at hand will definitely be more reliable. Thirdly, as already mentioned, more and more countries are beginning to fear that the Americans will not return them the gold because... not returned! The sad example of Germany made many people think. So after all, Washington still has to somehow reckon with Berlin...

What can the current processes bring for the United States itself? Definitely not good. It is unlikely that the speech (at least – yet) can go about the financial cataclysm that the US arranged in 1965, the French President Charles de Gaulle, forcing Washington to exchange imported from Paris green cut paper for full-weight gold at the stated rate of 35 dollars per ounce. The process that began then, to which the Central Banks and other countries of the world joined, eventually led to the collapse of the Bretton woods system. That is, to the complete abandonment of the dollar from the gold security. This, however, "green" not killed, alas. Quite the contrary – gave him new strength. However, today there is clearly another trend – albeit slow, albeit gradual and still timid, but de-dollarization of the world economy. Depriving the United States of access to gold reserves of sovereign States is one of its most important components.

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