Wednesday, January 16, 2013

Theft By Conversion- How the USA Routinely Ignores the Law

Am I the only citizen scratching my head over the obvious? How can our government continually break the law with impunity? At what point is someone with some courage going to try and enforce the law? Have we become a nation of thieves and cowards?

This story is about German gold- gold allegedly held in New York.

Please allow me to elaborate on the facts as contained here- in my own special law enforcement way.

Germany is going to keep 37% of it's gold in the US and 13% of it's gold in London. All French held gold is coming home. The other half of their total gold hoard is coming home to German soil.

So the math is pretty easy. Germany wants a measly 275-300 tons of their gold back and it's going to take 7 YEARS?

German gold is supposed to be stored, unencumbered and free, for German trade. Like a safety deposit box. A box that you have every right to open and inspect- to ensure that your property is supposed to be where you left it. Period. End of story.

This is the part that nobody is talking about. Germany is supposed to have over 1500 tons of gold stored under the Bank of New York.

Geezus! What if they had asked for the whole 1500 tons? Would that have taken 35 years?

So let me ask the question again. Why is it taking 7 years to deliver less than 300 tons of gold, a mere fraction of what we are supposed to be holding (1500 tons) of free and unencumbered German gold?

Why is the United States Federal Reserve not only refusing to return German gold- but also denying the Bundesbank the right to simply inspect their holdings? Why indeed?

So has the Federal Reserve, in fact, told the Germans that we are not going to allow you to see your own property?

Is there anyone besides me that finds that utterly outrageous?

This is the same government that has refused all requests to inspect gold holdings- gold allegedly still held in Fort Knox. Owned by the citizens. I have standing here.

I want you to picture this scenario. You have stored 100 ounces of gold in a bank's safety deposit box that you have not seen for 40 years. You suddenly show up at your bank's vault and ask to open your safety deposit box and make sure your gold is still contained therein and the bank refuses. In fact, they say it's a matter of security- yet YOU ARE THE OWNER. How can you deny the owner the access to his legally stored property? The only security risk is that the bank has stolen your property.

Has the United States devolved into some tinpot dictatorship?

How can a bank refuse to allow you access to your own property? Answer- they can't.

The law that governs the hijacking of property entrusted to another party is called theft by conversion. It is a crime, a felony. Every state, including New York state, has a theft by conversion statute. So essentially this becomes pretty easy if you are Germany. 

You simply demand the return of your property. If it is not returned, you have the right to file criminal charges against those people refusing to return your property. This is not rocket science. You file charges in the appropriate jurisdiction- in this case the New York Attorney General. I am in a constant state of amazement at the criminal acts that go unrecognized and  un prosecuted by the United States  Federal Government as well as in this case, the State of New York.

It's high time somebody charged and locked up a few of these criminals. I desperately mean that. And you have to do that knowing full well that the suspects, or criminals, are the people running this arm of the government, bankers. The people refusing to allow Germany access to their own property.

There are a few other very significant and mitigating issues which we cannot explore here. Re-hypothecation, lending gold, and gold swaps. This is probably why Germany is keeping gold in New York. Gold swaps are the sneaky method by which one central bank sells gold for another central bank. That way countries and central bankers can keep their actual gold sales and the sellers- anonymous. Some of this is a total mystery. So...

Barring that...

We used to be a nation of laws governed by honest people. I have no idea what the hell we have become or devolved into. This is a sad time in the history of this nation. Until we get serious about enforcing the laws of this land across all economic strata- we are no better than thugs or bullies. Unwilling to prosecute anyone except the defenseless. Forever ignoring the law.


Anonymous said...

The gold ain't there and it'll take 7 years to mine it (or raid all of those cash for gold places) and hand it back to Germany. If the Germans are unsatisfied with this arrangement and want it all back immediately, not only will they be told to get bent, the whole house of cards called the global ponziconomy will come crashing down in a flash (can't have that). So the can gets kicked down the road and Germany has to wait.

Anonymous said...

Secondly, it's a lot faster to wait seven years for the return of your property than it is to try and get it back through the American judicial system. Sue the bastards? Nope. Then the Germans would have to wait until 2050 for the return of what is theirs if they pressed criminal charges.

Anonymous said...

Did I mention that if you own physical gold and your not holding it within your reach,
you don't own it. I love these Wall Street assholes who keep pushing ETF'S and other paper issues as a proxy for gold ownership. In the next two years you will need water,food,gold and plenty of ammo. Keep stacking your essentials.

conservativesonfire said...

Could this be a black swan event?

Brian said...

Yes, actually. It might kick off a international inquiry. We will see.