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WHAT’S GOING ON??? Record Swiss Gold Flow Into The United States

by Steve St. Angelo, SRSRocco Report:

There was a huge trend change in U.S. gold investment in May. Something quite extraordinary took place which hasn’t happened for several decades. While Switzerland has been a major source of U.S. gold exports for many years, the tables turned in May as the Swiss exported a record amount of gold to the United States.

How much gold? A lot. The Swiss exported 50 times more gold in May than their monthly average (0.4 mt) since 2015:

As we can see, the Swiss gold exports to the United States are normally less than 0.5 metric ton a month. And for many months there weren’t any gold exports. However, something big changed in May as Swiss gold exports surged to 20.7 mt (665.500 oz).

The overwhelming majority of gold flows from the U.S. have been exports to Switzerland and the United Kingdom (U.K.):

Furthermore, as I have mentioned in precious articles, the U.S. has been exporting more gold than it produces and imports. However, this changed in May as the Swiss exported more gold to the U.S. in one month than they have every year going back until 2000:

Why the big change? Could this have had something to do with the huge gold price since the beginning of 2016, or maybe was it due to political changes such as the upcoming BREXIT vote in June? Of course the BREXIT vote is now history as the British citizens voted to leave the European Union.

However, something motivated this huge trend change in normal gold movements to Switzerland. Moreover, total U.S. gold imports in may shot up to 50 metric tons, almost double the 26.5 mt figure in April. In addition, total U.S. gold exports hit a low May as only 20.2 mt were shipped to foreign countries. Total U.S. gold exports Jan-May 2016 of 139 mt are down 28% compared to 195 mt exported during the same period in 2015.

So what’s going on here? Why the declining U.S. gold exports or surging gold imports from Switzerland? Are foreign countries demand less gold?? I doubt it. Or how about the massive increase in supposed gold flows into the Global Gold ETFs & Funds?? While there is no way of knowing how much gold these Gold ETFs & Funds hold, something seriously changed in May as the Swiss exported more gold to the U.S. in one month than they have every year for several decades.

Are wealthy Americans finally acquiring a lot more gold?

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25 comments to WHAT’S GOING ON??? Record Swiss Gold Flow Into The United States

  • willygroper

    wonder if it’s about price suppression or return to a gold standard???

  • Craig Escaped Detroit

    The tonnage counts looks like they are trying to “backstop” the “standing for delivery” at the Comex?

    But the way there are SO many lies and manipulations, etc, it’s hard to know what they’ve got cooking until the lid comes off.

    • Ed_B

      I agree @Craig. The numbers seem to line up pretty well for that plus enough left over for wealthy Americans to add to already existing stacks or to create new ones.

      Yep… and even when the lid flies off, all that was in the pot is then dripping from the ceiling.

  • KRELL427

    Obama and Yellen had an unprecedented meeting in the White House on April 11. Then in May the gold imports into the US go through the roof. Sounds like a gold backed currency is in the works.

    • Ed_B

      “Sounds like a gold backed currency is in the works.”

      Does it? A nation the size of the US needs thousands of tons of gold to support a gold-backed currency. As Craig says, this looks a lot like backing for Comex deliveries. At least it is in the same size area in terms of tonnage.

      • KRELL427

        The comex isn’t even a player at this point,its a paper trading vehicle.Shanghai exchange already has 40x the outflow and it just started http://www.silverdoctors.com/gold/gold-news/two-week-shanghai-gold-exchange-withdrawals-exceed-all-2014-comex-deliveries/

      • You’re right in your assessment, Ed, in that the US would either need a shitload of gold or a significantly higher price to pull off a “true” gold standard.

        But adding gold at 5% as a reserve asset/currency into the SDR basket, as is being discussed by the People’s Bank of China and Chatham House, is certainly a possibility:

        https://www.chathamhouse.org/sites/files/chathamhouse/field/field_document/0212gt_schenk1.pdf

        We tend to forget that the SDR didn’t start as a basket of currencies, but a 100% gold-backed settlement vehicle at 0.888671 grams per SDR – not coincidentally, the same amount of gold per dollar in the pre-Bretton Woods system:

        http://www.imf.org/external/np/exr/facts/sdr.htm

        What’s old will be new yet again… not saying this particular Swiss flow is slated for this purpose, but Switzerland will be key in setting up the “East-West Bridge” for this new financial order, as they have been in the past.

        • hal

          https://www.chathamhouse.org/sites/files/chathamhouse/field/field_document/0212gt_schenk1.pdf

          This Chatham House piece sure sounds as if they idea is to bring gold into the system to about the smallest degree possible.

          To quote –

          “Gold claims could be ‘residual’, i.e. gold could only be claimed when no convertible currency is available through voluntary agreements – this would reduce the strain on the IMF’s gold reserves.”

          “Countries in surplus with substantial gold reserves could be designated to buy SDR for gold in the same way they may be designated to buy SDR with freely usable currencies.”

          “Use gold only for valuation and not include any right to sell SDR for gold.”

          Sounds to me like it would be all-you-can-eat SDR for your bullion, but you will need some help from a genie to cash in those SDR and get some gold back.

          Seems like a very small step towards anything that might be considered honest money.

          • And therein lies the con, Hal. A “gold standard settlement” for the bankers, golden lipstick on the SDR pig for us. It’s a massive bait-and-switch. And that’s just one of four or five Chatham House papers on adding gold to the SDR basket. They’ve even established a “Gold Taskforce” to champion the cause.

            The only way this could be stopped is if some nation with tremendous gold reserves and a willingness to break the international monetary system showed up and threw some monkey wrenches around. The only trouble is, the nation most have ascribed these wishes to (China) are helping to author and support these policy papers as well as integrating themselves with the SDR system.

            So when people like Middelkoop or CIA stooge Jim Rickards talk about a “Gold Standard” or “The New Case for Gold,” this SDR-lined gold basket is what they’re talking about.

  • Millicent

    What better way to cap the price of Gold than to back “the world’s reserve currency” with it…

  • Moishe

    All this speculation BS is distracting, When are the true patriots going to to throw off the yolk of jewish bankers? Yes folks they are jesus killing jews not germans or Muslims.

  • MEFOBILLS

    All foreign trade is only barter.

    For example, if the U.S.sells two Buicks at $20K to Germany, and Germany sells one BMW @ $40K (equivalent) to the U.S. then trade balances.

    Post Bretton Woods, imbalance in trade flow was settled in Gold. This system worked reasonably well. Exchange rates of national currencies would be adjusted up or down, to then recover the gold.

    During the mercantile years under the gold standard, countries that used gold internally as the basis of their money, would engage in predatory exports. In this way, they would induce imbalance, to then grab gold from foreign economies. This led to may wars.

    Part of the reason for the Great Depression, was the FED keeping interest rates low. French, German, and English bankers (yes, many Jews in this group) conspired with the FED. Objective was for these European countries to recover their gold, lost in war. Low interest rates in America stimulated private credits, which then aimed at the stock market, creating a finance driven bubble.

    Gold is not a panacea, history teaches us lessons if we would listen.

    A superior trade system would be something like Keynes bancor. A bancor is an accounting device that represents goods and services trades. It settles trade imbalances, and forces negotiation of exchange rates.

    • petedivine

      By all means, lets run another Keynesian experiment on the 7.4 Billion people on the planet. What could possibly happen?

      • MEFOBILLS

        Quantitative easing is not Keynsian.

        A bancor system is not fiat money.

        Don’t be confused, I’m no fan of debt money systems.

        By all means, lets all fall prey to the con game. Even when somebody tells you straight up, it is hard to break your hypnotic trance.

  • MEFOBILLS

    Where is they hyperinflation that the “money printing” was supposed to bring?

    QE is not money printing, it is asset swapping.

    QE buys financial assets, some of which is debt instruments, or perhaps MBS, or something they can put on their ledger.

    This paper is made available to the FED on overnight market. TBTF agent banks buy this paper out of the market place.

    In effect, it makes financial paper high priced as money is chasing after it.

    It especially makes bond prices high, which in turn make interest rates low.

    The private sector is then induced to take out new debts at the lower interest rates.

    Nowhere in this game is it Keynsian; it is financial capitalism or wall street casino banking.

    Swapping in this way, usually causes FED keyboard money to be trapped in reserve loops of banks. This new cash in the reserves is then kept from going to zero on the overnight market, because the FED pays interest on this cash. OK!

    This is why the banks are fully capitalized.

    In the meantime, a new debt cycle is being foisted on the public by the game. These would be new private debts, the worst kind.

    • Eric

      Silver up 46% YTD
      Soybean Meal up 29% YTD
      Platinum up 27% YTD
      Gold up 25% YTD
      Orange Juice up 25% YTD
      Palladium up 24% YTD
      Sugar up 23% YTD

      http://finviz.com/futures_performance.ashx?v=17

      New “currency” printing always goes to the people at the top first, and ultimately goes into real assets.

    • Eric

      Not all banks can be fully capitalized in a fractional reserve banking system with margin calls and paper derivatives with real assets attached to them.

      • MEFOBILLS

        This is true. There is always leakage. Carry trades, securitizations, exchange rate manipulations, currency swaps… the economic body can be complicated, where an effect in one spot will make another area respond.

        The big banks especially are being capitalized with QE. On the other hand, they are putting themselves at risk with derivatives…hence new bail in rules. Heads I win (banker) tails you lose (everybody else).

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