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Friday, November 21, 2014
Netherlands Gold Bombshell ( November 21 , 2014 ) - Netherlands very quietly repatriates 122.5 tons of gold from the New York in a month ! Not just pulling their gold back before the Swiss Gold Initiative Vote on November 30 , 2014 , but how can they do what Germany can't do regarding their gold ?
The Netherlands Has Repatriated 122.5t Gold From US
The Dutch central bank, De Nederlandsche Bank (DNB), has repatriated in utmost secret 122.5 tonnes of gold from the Federal Reserve Bank of New York (FRBNY) to its vaults in Amsterdam, The Netherlands, according to apress release from DNB published today (November 21).
DNB states it has changed allocation policy from 11 % in Amsterdam, 51 % at the FRBNY, 20 % in Canada and 18 % at the Bank Of England (BOE); to 31 % in Amsterdam, 31 % at the FRBNY, 20 % in Canada and 18 % at the BOE. According to the World Gold Council’s latest data DNB has 612.5 tonnes in official gold reserves.
Source: the WGC, DNB
DNB Adjusts Gold Reserves Allocation Policy
Press release, date November 21, 2014.
De NederlandscheBank hasadjustedits allocation policyfor its gold reserves.To achievea more balanceddistribution ofgoldover the various locations, DNB has shipped gold from the US tothe Netherlands.
Inthe old situation11% ofthe gold reserves were located in the Netherlands, 51% in the US, with the remainderin Canada (20%) and the UK(18%). The locationdistribution according tothe revised policyis asfollows:31%inAmsterdam, 31% in NewYork, while the percentages forOttawaandLondon with20 and18 % remain unchanged.
This adjustment of DNBjoinsother central banksthat store alarger share of theirgold reservesin their own country. Next to a more balanced distributionof the gold reserves over thedifferent locations, this canalso contribute to more trust towards the public.
The distributionof gold stocksover various locationsisoftensubjected to change.For example, inthe period after theSecond World War untilthe early seventiesDNBaddeda lot to its goldreserves -underBrettonWoods- especiallyin NewYork.Since then,more mutationsoccurred. The main reasonsfor this have been thegold salesoverthe past decadesand the closure ofthe vaults of theReserveBank of Australia, which made DNBship gold from Australia to the UK in 2000.
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