Bundesbank (NON-)news re gold repatriations in 2014

via Peter Boehringer

A quick info in English because I know there are many people around the world waiting for the gold repat news from Deutsche Bundesbank in 2014.

I always said BuBa would continue their repatriations in Germany despite many official and inoffical news outlets claiming the opposite.

We still have no quantitative news – but this came in 8am CET today (45 mins ago).

See here for original German language interview text of BuBa´s “gold exec” Mr Thiele. *) My translation of the text below. Followed by my short comment.

“Bundesbank has delivered gold to Germany according to plan

Also in 2014, Deutsche Bundesbank has brought gold from foreign storage sites to Frankfurt. ‘We are within our plan with our delivery of gold from the Fed and the Banque de France.’. BuBa-executive Carl-Ludwig Thiele told the German Press Agency dpa in Frankfurt.”

Boehringer comment:

ðThis is really all there is. All we have right now. I would personally call it “non-news” as usual in that Mr Thiele does not give out ANY new info which we did not have before. With the possible exception that Bundesbank now officially says what I said all along throughout the year: The gold repatriation is continuing – albeit intransparent and probably way too slow but with a rate larger than 0 tonnes in 2014...

ðWe still do not know exact numbers.Thiele does not seem to have given out tonnages for 2014 (in the press release we only have 2013 numbers which had been known since Dec 2013).

ðEvery number below 70-100 tonnes would be shamefully little – and therefore this is exactly the range I am expecting in the final announcement with numbers (due early 2015).

So it is business as usual with Bundesbank. Too slow, too little, not transparent: this holds true both for its info policy on gold and for its repatriation efforts! The fight for repatration and for receiving more info from BuBa will have to continue. And since BuBa is stalling and our institutions are not helping – we the owners of the gold will have to do the work on our own. To be continued (in 2014)... Happy Christmas to everybody!

*) 22.12.2014 08:00 Bundesbank bei Gold-Verlagerung im Plan
Die Deutsche Bundesbank hat auch 2014 tonnenweise Gold aus ausländischen Lagerstätten nach Frankfurt gebracht. "Mit der Goldverlagerung von der Fed in New York und der Banque de France in Paris liegt die Bundesbank voll im Zeitplan", sagte Bundesbank-Vorstand Carl-Ludwig Thiele der Deutschen Presse-Agentur in Frankfurt.
Die Notenbank will bis 2020 mehr als die Hälfte ihrer zuletzt 3387 Tonnen in heimischen Tresoren lagern. Dafür sollen 674 Tonnen des Edelmetalls aus Paris und New York nach Frankfurt gebracht werden. Zum Start der Aktion holte die Bundesbank 2013 fünf Tonnen aus New York und 32 Tonnen aus Paris.