Sprott is back!

So I thought I would resurrect this thread just for the fun of it. Summer is around the corner and we are well off from $2400 gold prices (much to my dismay). I wonder if Sprott's position has changed at all? OH WAIT! Here is an article from March 4th of this year.... still asserts that gold should be $2400, but now by year-end.

http://www.silverdoctors.com/eric-s...llaged-to-supply-central-bank-gold-shortfall/

Quick! Buy while there is still time! Hurry!

 

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I take what He says with a grain of salt, (ok, maybe half a shaker full) but He brought up a legit point in regards to Germany not receiving all of their gold yet. Has anything resembling an excuse and or reason for this been put out there yet? Not to my knowledge.

 

Do people think we were holding this gold, protecting it, for free? Try going to a bank or security firm and ask how much they would charge to safeguard billions of dollars worth of a physical asset. I would say at least 1% a year. I do not think we ever charged Germany. So, in my mind, we probably leased this out to high quality firms long term. So these leases need to get unwound over time in order to facilitate the gold being shipped to Germany.

As an American, I do not have a problem with this. Why should we store and secure for free other countries assets? If we are storing it, we should have the right to earn some money off of it to offset our costs. I believe everyone knows this, which is why Germany was fine with a long term repatriation agreement. The gold is there IMHO, its just being used as a financial backing by some others as part of a long term lease.

 

We (as well as France) never charged Germany for storage. This "no charge" storage originated back in the cold war, and was a favor to the Germans. I know that Germany plans on reducing its holdings in the U.S. from 45% to 37%, which is roughly 300 tons. (metric)
It`s estimated that depending on the carrier, it could be anywhere from 60-100 trips via the friendly skies.
This is not the first time that a country withdrew a large amount of its gold holdings in the U.S. either. In 2011 the late Hugo Chavez moved about 160 tons to Caracas. I`m not sure if there was a delay regarding that move either, but Venezuela WAS getting charged for storage, unlike Germany.

 

Yeah, I remember that. Lots of people here saying it was to "protect" the gold from the big bad US. I wonder if a single ounce of that gold is still left?

 

Lol.....I`m sure Chavez distributed the gold equally amongst the people.......as only a good socialist would.

 

Oh, you mean that huge gold statue of himself in his living room?