Belgium Reportedly Plans to Retrieve 200 Tons of Gold From UK Storage

[DeepseekerADS]

Belgium Reportedly Plans to Retrieve 200 Tons of Gold From UK Storages / Sputnik International

Europe
22:45 04.02.2015

Belgium is planning to retrieve 200 metric tons of gold, deposited to United Kingdom storage in the 1930s, out of fear of Nazi theft.

MOSCOW, February 4 (Sputnik) — Belgium is planning to retrieve 200 metric tons of gold, deposited to United Kingdom storage in the 1930s, Belgian public broadcasting organization RTBF said Wednesday.

The date of the retrieval operation is kept secret for security reasons, according to RTBF. A ship with 50 soldiers and a helicopter will escort the ingots to Belgium.

The gold, estimated at $7 billion, is stored at a depth of over 65 feet in a repository with 3-feet thick walls. The password-protected storage can be opened only with an almost 3-inch key, of which there are no copies.

The ingots were deposited to the UK, a country with the most secure storage in the world, out of fear of Nazi theft. The UK also stores French and the United States gold.

Belgium pays over $280,000 in rent for the storage every year.

 

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[jeff of pa]

$280,000 in rent? that could be Missed

 

[ARC]

"The UK also stores French and the United States gold."
Our gold ?
Um... why ?
Isnt that why they built Fort Knox ?

 

[Army of 1]

Lucky it wasn't in USA storage , it would be long gone ..cheers Mick

 

[jeff of pa]

Lucky it wasn't in USA storage , it would be long gone ..cheers Mick

yea , they would have to take it back a Hundred Pounds a Year

 

[GMD52]

The only things left in Fort Knox are the remains of the Aliens from the Area 51 crash in 1947......Gary

 

[ConceptualizedNetherlandr]

Has this 'news' been vetted?

 

[jim4silver]

Seven billion sounds like alot of gold but value-wise that amount of money is peanuts compared to the amount of "dollars" floating around at any given time. We added approximately $1 Trillion to our national debt per year each year recently, which is 143 times larger than $7 Billion. Think of it this way, if it were 2x we would say double, 3 x triple, 4x quardruple.... I don't know how to express 143X, but it shows that 7 billion isn't that much compared to only one year's worth of extra debt for the US only.

But if there ever would be some financial meltdown and paper assets lost much value, having tons of gold would be helpful for a country it would seem.

Funny that back when Germany wanted its gold they were only to get a little bit each year for 7 years or whatever it was. I remember reading that the bars Germany did get back were not the same bars they deposited but were instead fairly recently fabricated bars. Don't know if that is true or not.


Just my opinion.


Jim

 

[jeff of pa]

Seven billion sounds like alot of gold but value-wise that amount of money is peanuts compared to the amount of "dollars" floating around at any given time. We added approximately $1 Trillion to our national debt per year each year recently, which is 143 times larger than $7 Billion. Think of it this way, if it were 2x we would say double, 3 x triple, 4x quardruple.... I don't know how to express 143X, but it shows that 7 billion isn't that much compared to only one year's worth of extra debt for the US only.

But if there ever would be some financial meltdown and paper assets lost much value, having tons of gold would be helpful for a country it would seem.

Funny that back when Germany wanted its gold they were only to get a little bit each year for 7 years or whatever it was. I remember reading that the bars Germany did get back were not the same bars they deposited but were instead fairly recently fabricated bars. Don't know if that is true or not.


Just my opinion.


Jim

yes the several years to deliver it all back was supposedly because the U.S.
is worried some hollywood Style robbery of the Bars could take place.


I know if I had a Billion dollars in gold on Trucks driving down the Interstate towards an Airport.
the first thing I'd worry about is someone making the convoy disappear


Not

 

[Jim in Idaho]

I think where we're headed is a world-wide auditing of assets, country by country. This will come about by a great collapse of fiat currencies. At that time, the way it will be determined which countries have wealth, and which do not, will be by the age old method....assets versus liabilities. Many countries are anticipating this by getting their gold back under their physical control.
Jim

 

[ConceptualizedNetherlandr]

I think where we're headed is a world-wide auditing of assets, country by country. This will come about by a great collapse of fiat currencies. At that time, the way it will be determined which countries have wealth, and which do not, will be by the age old method....assets versus liabilities. Many countries are anticipating this by getting their gold back under their physical control.
Jim

Gold as wealth to fall back on, but our economy could keep trucking right along with or with out gold in storage. Food, energy, the military ... 'what matters'.

There was skuttle butt about maybe a bunch of gold in the hold on MH370, was that ever sorted?

 

[Jim in Idaho]

Gold as wealth to fall back on, but our economy could keep trucking right along with or with out gold in storage. Food, energy, the military ... 'what matters'.

There was skuttle butt about maybe a bunch of gold in the hold on MH370, was that ever sorted?

The only reason our economy hasn't completely collapsed is because we can (and do) print all the money we want, and the rest of the world accepts it, just as if it were real money. Take the printing machine away, and our economy collapses. If we had to get by on a balanced budget, we'd have to cut every, single Federal government program by 40%, or more. On top of that, imagine the state governments doing the same thing. The result would make the great depression look like good times.
Jim

 

[jim4silver]

The only reason our economy hasn't completely collapsed is because we can (and do) print all the money we want, and the rest of the world accepts it, just as if it were real money. Take the printing machine away, and our economy collapses. If we had to get by on a balanced budget, we'd have to cut every, single Federal government program by 40%, or more. On top of that, imagine the state governments doing the same thing. The result would make the great depression look like good times.
Jim

Sadly that day is coming. The EU will probably go first but we will not be far behind. All that debt that won't be paid will represent a huge loss for those holding the bag so to speak. I have no idea when that will happen though, maybe they can keep this going another 5 years, 10 years? But so far I've never seen a plan on how all the debt will be paid, let alone the interest payments later on as the debt continues to grow and interest rates go back up.

Just my opinion.

Jim

 

[jeff of pa]

[h=1]Greece could run out of cash in less than a month[/h]
ATHENS — As Greece’s creditors line up to oppose the country’s demand for a debt restructuring, Prime Minister Alexis Tsipras’s refusal to accept more bailout loans may result in a cash crunch as early as next month, two people familiar with the country’s financial position said.
The bailout funds Greece gets from its so-called troika of international lenders (the European Commission, the European Central Bank, and the International Monetary Fund) will stop coming at the end of February.

Greece could run out of cash in less than a month | Financial Post