Jim Sinclair: German Gold Repatriation is the Most Significant Gold Event in 50 Years, Beginning of the End of the US Dollar As Reserve Currency

Legendary gold trader Jim Sinclair has sent an email alert to subscribers today regarding last night’s news that Germany will begin repatriating it’s gold held on deposit at the NY Fed back to the Bundesbank, as well as all 374 tons held at the Bank of France.
Sinclair states that history will look back on this salvo fired across US war financing as being the beginning of the end of the US dollar as the reserve currency of choice, and that under normal circumstances, no major central bank would insult another major central bank in the way that the Bundesbank just has.

Sinclair states that the Bundesbank repatriating its gold reserves is the most significant event in the gold market since Charles De Gaulle called the US hand that it would stand by convertibility, and that gold is headed to $2111 in the near future in the wake of the Bundesbank’s actions.
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21 comments on “Jim Sinclair: German Gold Repatriation is the Most Significant Gold Event in 50 Years, Beginning of the End of the US Dollar As Reserve Currency
  1. jayzio says:

    I’ve had bi-metallic boner all day because of this

  2. ronron says:

    Jim Rickards says there not getting it back. matter of factually. he shrugged his shoulders and raised his hands. we,ll know in 10 years.

  3. JIm says:

    Should we buy food today?

  4. Oky1 says:

    Giv’em Hell Jim, tell’em them the truth & they’ll know they’re in Hell! LOL;)

  5. ronron says:

    @Max. did you see Alex on the young turks? you may need to do a four hour tape and edit some stuff out when you next interview him. 😉

  6. Michael JR Jose says:

    Surprisingly, if not amazingly, the UK Royal Mint currently have a blog post which actually admits that the debasement of silver coins with copper by Henry VIII was actually ‘quantitative easing’:


    may not be there long…

  7. JonnyJames says:

    I agree with ronron (and Rickards). Request is one thing, physical delivery quite another. US troops still occupy Germany and I don’t believe the German govt. has requested that they be removed. The Soviet Union has been gone for over 20 years now.

  8. ronron says:

    @JJ. but all the hype is good for the metal price. 🙂

  9. Nathan el Corochio says:

    can someone tell me, is one ton of gold a metric meter cubed or rather a thousand kg. its been a while since ive been to school.

  10. James Brown says:

    @Nathan el Corochio:
    In the interest of kindness, I’ll pretend you’re not trolling:
    1 meter cubed of water (With a specific gravity of 1) would weigh 1000 kg (1 ton).
    1 meter cubed of gold (With a specific gravity of 19.3) would weigh 19300 (19.3 tons).
    So one ton of gold is 1000kg and would be a cube having (roughly) 15-inch/37.2cm sides

  11. JonnyJames says:

    It couldn’t hurt, thats’ for sure – something has to counter act the naked shorts and re-hypothecated fictitious gold that is keeping the price down.

  12. ricin3000 says:

    And they’re apparently repatriating 50 of those cubes per year during 3 years from the FED. That’s a lotta gold, but only a tiny fraction of their total.

    What’s much more interesting is that they want to repatriate all of their gold held in Paris.

    And then the ECB has cumulative state gold holdings on their balance sheet (partly pledged I think). As if it’s all shared. Yeah. Right. Ergo: two tiered EUR coming. AKA as Deutschmark 2.0.

    Just a thought.

  13. Nathan el Corochio says:

    @James Brown – Thank you, the concept was fuzzy but that clears things up. Damn gold is heavy.
    Does anyone know what precautions they take when transporting gold. Is there military protection or private security. Do they transport only small amounts to reduce risk?

  14. Uncle Ben just called …. he says the NY Fed somehow just lost all that German Gold … he says to tell Merkel that he’s very sorry for the loss – and that he’ll send her a bunch of IOU’s instead.

  15. Mishopshno says:

    This sounds correct re equivalent to DeGaulle’s action and the history changing result. That is, if the Germans stick with it.

  16. Nathan el Corochio says:

    a great visualisation of the worlds gold. all my question answered.

  17. SAO says:

    Was that German gold that was stolen in New York in the Twin Towers Complex of 9/11/01? It was estimated as quite a huge haul.

  18. Danny Cunnington says:

    @SAO, No the trade centre gold belonged to the Bank of Japan. It was due to release on the 12th. Cantor Fitzgerald was completing the paperwork….

  19. Alistair says:

    Why does the Bundesbank need to give the US Fed 7 years to repatriate 300 tonnes when it could be executed within months?

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