RE: There you go .. It’s official10 Feb 2025 08:47
Don’t know about that, but this happened…
There is speculation that the U.S. may have borrowed gold from JPMorgan or other sources to meet Germany’s 2012 request to repatriate its gold stored at the Federal Reserve, but there is no direct proof. Here’s what happened:
Germany’s Gold Repatriation (2012-2017)
• Germany’s Bundesbank held much of its gold reserves abroad, mainly at the Federal Reserve Bank of New York, as a Cold War precaution.
• In 2012, Germany requested to repatriate 674 tons of its gold from the U.S. and France.
• The Fed initially said it would take 7 years (until 2020) to complete the transfer, raising concerns about whether the gold was actually there.
Why Did It Take So Long?
1. Logistics & Security: The Fed claimed that moving such large amounts of gold required time for transportation and security measures.
2. Potential Gold Leasing: Some believe much of the Fed’s gold is leased out to bullion banks, meaning the Fed did not have immediate access to Germany’s specific gold bars.
3. Possible JPMorgan Involvement:
• Some analysts speculate the U.S. may have borrowed gold from JPMorgan (a major bullion bank) or other sources to fulfill part of Germany’s request.
• JPMorgan has deep ties to the Fed and holds large gold reserves.
• However, no official records confirm this.
What Eventually Happened?
• The gold shipments accelerated, and Germany received all 674 tons by 2017, three years ahead of schedule.
• The Fed melted and recast many of the bars before returning them, further fueling speculation that the original bars had been leased out or used in financial markets.
While there is no hard proof that JPMorgan lent gold to the Fed, the secrecy around central bank gold holdings makes it a persistent theory.
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