Submitted by: Francis Soyer
This is a sign of where things are headed. For gold and silver they are headed north and the reason can be tied to the economic confidence model. The economic confidence model is not what you may think from the name. It does not measure a consumers confidence in being able to spend money at the mall. It is a measure of the masses confidence in governmental systems, specifically the global fiat monetary system. When fiat money and confidence in it fails it drives out of the market real money or assets that have a tangible value like gold and silver. When governments start asking "where is our gold" to their respective Treasury Secretaries it marks an early beginning of a stampede out of fiat and into precious metals.
This is the second notable demand for the physical metal. The first a few weeks ago when Hugo Chavez President of Venezuela demanded his 99 tons of Gold from European banks. Now we have the Dutch Socialist party inquiring about where their own gold is held, probably because they want it in hand for when the fiat system collapses.
From:
Vrijheidsnieuws
Dutch Socialist Party has asked the Secretary of the Treasury for the whereabouts of the Dutch Central Bank’s gold
On Friday 16 September, the Dutch Socialists Party (SP)’s spokesman for financial affairs, Mr. Ewout Irrgang, has asked the Dutch Secretary of the Treasury 10 detailed questions about the gold supposedly held by the Dutch Central Bank. Questions vary from: where is the gold? why are gold and gold receivables one line item? how much gold is loaned out? All questions (in Dutch) can be found here and copied below.
This is potentially a big breakthrough for global awareness on how central banks hide crucial info from the public and the disastrous effects central banks have on society. The society benefits from competitive currencies, chosen voluntarily by the people.
The Questions:
1 Did the Dutch Central Bank (DNB) loan part of their gold? If yes, how much and to whom?
2 Why are gold and gold loans stated as one line item in the annual report 2010 instead of mentioned as 2 separate items?
3 Can you give an overview of the yearly yields of the gold loans during the past years?
4 Where IS the physical gold of DNB? At which locations and how much is where? What is the reason that the gold is still at these locations?
5 What was the most important reason for DNB to sell the gold in the past? Are the storage costs a reason? What are the actual costs to store the gold?
6 Can you confirm that since 1991 of the 1700 tons of gold about 1100 tons have been sold? Is the remark of journalist Peter de Waard correct that because of these historic sales there is a loss of about 30 billion euro? If not correct, what is the right amount?
7 How much of the National Debt has during the past 20 years been paid off with the proceeds of the gold sales? Are you of opinion that the sustainability of the national debt will be improved by paying off the debt and at the same time selling the gold?
8 What is in your opinion the present function of the gold stock?
9 What is the relation between the size of the market of the gold stock and the size of the market of gold derivatives? What are the possible consequences of this?
10 Can you confirm that recently a number of countries have even enlarged their physical gold stock?
Do you have an explanation for this development?
As for what the Secretary of The Treasure has answered to these questions we are waiting to hear. The fact that the answers were not posted in the article is disturbing. Original article is below. Go to the bottom of the page for an English translation.
http://www.vrijspreker.nl/wp/2011/09/sp-stelt-kamervragen-over-de-nederlandse-goudvoorraad/
