French Political Leader Wants Gold Back In France

First it was Venezuela, then Germany, then the Netherlands, the Swiss, and now the French.  They all want their gold reserves repatriated back to their own sovereign vaults.  When the gig is up, the gig is up.  See you at $6300/oz. gold.

http://www.kitco.com/news/2014-11-26/French-Political-Leader-Wants-Gold-Back-In-France.html

First Germany, Now France Folds On Syrian Airstrikes

http://www.zerohedge.com/news/2014-09-22/first-germany-now-france-folds-syrian-airstrikes

Perhaps most concerningly for The US administration, the fact that Germany and France have denied the US leaves them instead sided with Russia's perspective on Syria and ISIS, as "there are deep concerns that the U.S. will bomb not only ISIS positions in Syria, but also the Syrian government forces."

G-20 Revolt? France Gets "Positive Reception" To Challenge US Bank Fines

With friends like these, who needs enemies?  The fact is:  the US is running out of allies, and the USDollar is on its way out as the global reserve currency.

http://www.zerohedge.com/news/2014-08-03/g-20-revolt-france-gets-positive-reception-challenge-us-bank-fines

France Assures Push Against Petrodollar Is Not A "Fight Against Dollar Imperialism"

Umm, it sure sounds like a fight against the USDollar.

http://www.zerohedge.com/news/2014-07-06/france-assures-push-against-petrodollar-not-fight-against-dollar-imperialism

By "Punishing" France, The US Just Accelerated The Demise Of The Dollar

http://www.zerohedge.com/news/2014-07-04/punishing-france-us-just-accelerated-demise-dollar-0

France's Sale Of Warships to Russia Shows Why The West Can't Stop Putin

Another US "ally" abandons ship--literally, by selling to the Russkies.  Putin is running circles around his western adversaries.  He's taken advantage of the fact that this new cold war has interdependent trading partners, and oil money talks--especially in a resource-constrained world.

On the other hand, the US is stuck in 1980's dogma.

http://www.reuters.com/article/2014/05/15/us-ukraine-crisis-russia-gas-idUSBREA4E0OK20140515

France's Hollande tells US to 'immediately stop' spying

Not that Hollande is some benevolent leader, but the Alliance is crumbling.

http://www.google.com/hostednews/afp/article/ALeqM5gvEj5LQZyQYyVIIJoBkOncNw8hhg?docId=CNG.ce0613494dc2b055d0943c13ea7ff3c9.661

Air Controller Strike in France Causes Cancellations

To my family members traveling to Europe this summer:  good luck.

http://www.nytimes.com/2013/06/12/business/global/air-controller-strike-in-france.html?_r=0

France Bans Mailing of Precious Metals

It looks like France just passed a law banning shipment of precious metals through the mail.  It's unconfirmed, but I read they had previously banned purchasing of precious metals via cash payment.  This is essentially the banning of an asset and capital control.  Expect this to spread across Europe--and God forbid, into the United States.

http://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFTEXT000027436428&dateTexte=&oldAction=rechJO&categorieLien=id

Excerpt from Google translation:

"Art. D. 1.-The insertion of banknotes, coins and precious metals is prohibited in mailings, including the insured items, registered items and items subject to formalities certifying deposition and distribution. "

Article D. 2 is replaced by the following:"Art. D. 2.-Jewelry III defined in Article 1 of Decree No. 2000-376 of 28 April 2000 as amended relating to the protection of transport funds can only be carried by insured item by registered mail or by sending subject to formalities certifying deposition and distribution.
Under the provision of the universal postal service as defined in Article R. 1 jewelry can only be transported by sending by registered or insured parcel.

The amount of insured items within the range of universal postal service must meet the threshold set by the order referred to in Article R. 1.The value of the objects inserted in a registered letter or a consignment covered formalities certifying deposition and distribution must not exceed the level of security chosen by the sender when posting the item."

Two People Dead From SARS-Like Virus In Saudi Arabia, Two More Infected In France

http://www.zerohedge.com/news/2013-05-12/two-people-dead-sars-virus-saudi-arabia-two-more-infected-france

François Hollande to woo French business with tax cut

Even the communists in France have realized the error of their ways and cut corporate taxes, in an attempt to woo businesses back.

http://www.ft.com/intl/cms/s/0/540f4d5e-afe4-11e2-8d07-00144feabdc0.html#axzz2RqpIg9uX

Labor Minister Says France Is "Totally Bankrupt"

Oops.

http://www.zerohedge.com/news/2013-01-28/labor-minister-says-france-totally-bankrupt

Asterix, Obelix Leave France Amid Hollande’s Taxes on Rich

http://www.businessweek.com/news/2012-12-11/asterix-obelix-leave-france-amid-hollande-s-taxes-on-wealthy

German auditor office urges central bank to control gold reserves held in US, France, Britain

My critics can kiss my ass--again.  I couple years ago, I suggested Germany demand a repatriation of their official gold reserves vaulted in New York--firstly, to see if it really is there, and secondly, to see if the amounts are correctly accounted for, and not re-hypothecated to various counterparties.  Bam!!!  Today, Bloomberg and the Associated Press, the Germany auditor is doing exactly that.

Guess what, boys and girls?  Official government gold reserves worldwide have been over-counted, and there will be numerous reports of "missing" gold.  That's been my position all along, and my suspicions are beginning to materialize.  Venezuela saw the writing on the wall--and demanded to have their gold reserves repatriated from the US and the UK.  It look New York and London weeks to fill Hugo Chavez's repatriation demands.

http://www.washingtonpost.com/business/german-auditor-office-urges-central-bank-to-control-gold-reserves-held-in-us-france-britain/2012/10/22/a986448c-1c63-11e2-8817-41b9a7aaabc7_story.html

The Socialist Counter-revolution Begins: France's Richest Man Seeks Belgian Citizenship

http://www.zerohedge.com/news/socialist-counter-revolution-begins-frances-richest-man-seeks-belgian-citizenship

Swiss Bank Crackdown Accelerates As Credit Suisse, UBS Clients Raided In Germany, France

http://www.zerohedge.com/news/swiss-bank-crackdown-accelerates-credit-suisse-ubs-clients-raided-germany-france

BNP Paribas Sold $2 Billion French Swap, EBA Says

http://www.bloomberg.com/news/2011-12-09/bnp-paribas-sold-2-billion-swap-protection-on-france-eba-says.html

“Some of this is trading rather than pure hedging,” said Gary Jenkins, head of fixed income at Evolution Securities Ltd. in London. “If European counties [sic] the size of France or Italy actually defaulted and triggered CDS, there would be total carnage and meltdown. It would be the end of the world, and at that stage it’s likely your counterparty would be the least of your worries.”

France Likely to Lose Top Rating in Stressed Economic Scenario, S&P Says

http://www.bloomberg.com/news/2011-10-20/france-likely-to-lose-top-rating-in-stressed-economic-scenario-s-p-says.html

Fort Knox and conspiracy theories

Ft. Knox hasn't been independently audited since 1953 when Eisenhower was President. Many conspiracy theorists, including Ron Paul, believe the official numbers released by the Federal Reserve Bank are vastly overstated. GATA posits that each ounce of gold has been sold, swapped, or leased many times, as part of a surreptitious gold price suppression scheme, orchestrated by central banks with the help of bullion banks.

Even if the inventory numbers are true, Societe Generale believes the true value of gold is $6300/oz., based on USDollars floating in financial systems worldwide vs. above-ground gold tonnage.

As an aside, it was French President Charles de Gaulle who forced President Nixon to close the gold window, as the French wanted to redeem their USDollars for gold prior to 1971. Nixon had to end the gold standard, as the US Treasury had printed too many dollars to be backed by gold stored in Ft. Knox's vaults.

In any case, since the above-ground gold numbers are vastly overstated, $6300/oz. may be a conservative estimate for the price of gold.

A history of France--and hyperinflation

http://dollarcollapse.com/articles/hyperinflation-history-la-terreur/