Romania Moves to Repatriate Gold Reserves

[Swordsmyth]

According to Romanian news outlets, the Chamber of Deputies Budget and Finance Committee released a favorable report on legislation that would require the country’s central bank to repatriate its gold and hold it within the borders of the country.
As originally introduced, the bill would have required the National Bank of Romania to hold 95% of its gold reserves in the country. An amendment to the bill upped the level to 100%.
Currently, Romania holds about 65% of its 103.7 tons of gold at the Bank of England.
The bill’s legislative findings assert:
“Nothing about Romania’s current economic landscape justifies keeping such a large quantity of gold reserves abroad, which incur quite significant costs, considering that this reserve can be properly stored and even increased in the country.”


The bill will now move forward for a vote in the Chamber of Deputies.

More at: https://www.infowars.com/another-eu-...gold-reserves/

[Zippyjuan]

The gold in London is worth about $2.5 billion. How much would it cost to ship it to Romania? Germany spent about $10 million repatriating some of their gold.

[Swordsmyth]

The gold in London is worth about $2.5 billion. How much would it cost to ship it to Romania? Germany spent about $10 million repatriating some of their gold.

Not as much as leaving it there might cost, ask Maduro.

[Danke]

Why do countries want to own such a barbarous relic?

[Swordsmyth]

Why do countries want to own such a barbarous relic?

It must be barbaric if @oyarde likes it so much.

[oyarde]

The gold in London is worth about $2.5 billion. How much would it cost to ship it to Romania? Germany spent about $10 million repatriating some of their gold.

I will get the Romanian gold where they want it cheaper . Or I can store it in one of my facilities for them cheap too .

[Danke]

It must be barbaric if @oyarde likes it so much.

He must belong to the reservation's Injun government council.

[Zippyjuan]

Not as much as leaving it there might cost, ask Maduro.

Maduro is trying to get rid of all of their gold. Russia wants it.

[Bern]

The gold in London is worth about $2.5 billion. How much would it cost to ship it to Romania?

This is actually an interesting question if you step back and take a big picture look at the world. The actual cost for the logistical effort in dollar terms is not really what's interesting. What is interesting is the context of the question where whatever the number is doesn't really matter. Dollar terms may not mean much when the next systemic financial crisis hits. Every major financial institution around the world has been warning for over a year now that there isn't sufficient resilience in the system to handle it. There are plenty of indications that gold will have a large role to play when TSHTF.

"Money is gold -- and nothing else."

[Zippyjuan]

This is actually an interesting question if you step back and take a big picture look at the world. The actual cost for the logistical effort in dollar terms is not really what's interesting. What is interesting is the context of the question where whatever the number is doesn't really matter. Dollar terms may not mean much when the next systemic financial crisis hits. Every major financial institution around the world has been warning for over a year now that there isn't sufficient resilience in the system to handle it. There are plenty of indications that gold will have a large role to play when TSHTF.

"Money is gold -- and nothing else."

Would gold worth one percent of their GDP save them in the event of a crash? (GDP: $212 billion- the gold to repatriate is worth about $2 billion).

[acptulsa]

Would gold worth one percent of their GDP save them in the event of a crash? (GDP: $212 billion- the gold to repatriate is worth about $2 billion).

Has there been a crash in the last century where the value of currencies did not drop in relation to gold?

[Zippyjuan]

Has there been a crash in the last century where the value of currencies did not drop in relation to gold?

Has there been a crash where a country having gold saved their rear end? We had the most gold in the world during the Great Depression.

[brushfire]

The gold in London is worth about $2.5 billion. How much would it cost to ship it to Romania? Germany spent about $10 million repatriating some of their gold.

Maybe they're anticipating some inflation? Also, maybe its safer, under their big central mattress, where they dont need USSA permission to access it?

I thought it was pretty funny when Germany repatriated their gold, and received different serial numbers than what they had submitted... Reminds me of ol George Bailey...


"You've got this place all wrong... Your gold isnt here - its in Germany, India - defense spending! It was just sitting there, so we put it to work. You can have it back in 10 years, just say when..."

[acptulsa]

Has there been a crash where a country having gold saved their rear end?

Is there any way to tell for certain? Each situation is different, and in each different situation, the amount of gold on hand is but one variable.

It's too bad the Treaty of Versailles stripped Germany of gold. Its population might have withstood temptation if the nation had some solidity to help it through 1930-31.

Why do you ask? Are you wondering if FDR had a legitimate reason for confiscating all the gold in 1933 under the guise of a national emergency?

[Swordsmyth]

Maduro is trying to get rid of all of their gold. Russia wants it.

The UK won't give him back the gold they are holding.

[Danke]

Why do countries want to own such a barbarous relic?