The Dutch Don’t Trust the U.S. With Their Gold

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Market Update from The Netherlands indicates at least one Dutch fund manager no longer trusts the United States as keepers of their gold. After our own regulators stole money from clients of MF Global, I can see why the Dutch might not trust us.

We sell out all our allies. We’re liable to give their gold to the Iranians.

Member of Parliament Ewout Irrgang told reporters that the Dutch gold reserve has always been surrounded by much hysteria and questions about its location. In September, Irrgang formally asked the Dutch Treasury where the gold reserves are located and how much is where. The Treasury replied that the Dutch gold is located in Ottawa, New York, London, and Amsterdam, but did not specify how much is in each place…

…Financial analyst Jim Rickards’ book “Currency Wars” caught the attention of “Nieuwsuur” and the program, interviewing him from New York, asked about the possible confiscation of foreign gold reserves by their custodian, the U.S. government. Rickards told about the U.S. Defense Department’s financial war games and summarized elegantly: “U.S. lawyers have an expression: Possession is nine-tenths of the law, and since we possess the gold … then we’re 90 percent on the way to owning it.” Rickards estimates that perhaps 100 to 200 tons of gold are located in New York.

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