Gold Repatriation Fever Strikes Belgium

Belgium Gold Repatriation

Following its Netherlands neighbor’s lead, Belgium is exploring repatriating all its own gold

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Belgium Is Exploring Repatriating its Gold

Map and flags of belgium and the Netherlands

The Netherlands recently repatriated a large portion of its gold. Belgium is considering a move to repatriate all of its gold

Update December 8, 2014: VTM News Confirms The Belgian Central Bank is Investigating Gold Repatriation

Fresh off the annoucement that the Netherlands had repatriated 122.5 tons of its gold, Dutch gold reseacher Koos Jansen, broke the story that the Belgium Central Bank is considering a similar move to repatriate its gold, serving up this video clip from Belgium TV:

Belgium Gold Reserves

Accoording to the World Gold Council, Belgium has 227.4 tons of gold or approximately 7.3 million ounces (the Netherlands has 612.5 tons or 19.6 million ounces).

Like Switzerland, Belgium has sold off a good portion of their gold reserves. Since 1989 Belgium has sold over 1,000 tons of its gold.

Now the Belgium Central Bank apparently wants all of what gold they have left back in its own vaults.

Gold Repatriation Requests Pile Up

The possible Belgium repatriation of their gold follows a recent gold repatriation request by France’s National Front to the Bank of France and the Dutch repatriation of their gold. These gold repatriation actions follow similar repatriation/audit requests from countries holding gold outside their borders including Germany, Austria, Switzerland (pursuant to a populist referendum Save Our Swiss Gold) and Venezuela (repatriation completed).

Gold at the New York Fed in Custody for Foreign Central Banks 2000-2014

chart showing amount of gold held by the NY fed for foreign central banks

Gold reserves held in custody for foreign central banks at the NY Federal Reserve are declining

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Images: CanStockPhoto

Further Reading:

41% Of Belgian Central Bank Gold Has Been Lent Out (June 2011)

Belgium Decreases Loans of Gold Reserves to Bullion Banks

Belgium Becomes Major Holder of US Treausuries

Belgium Seeks to have Potato Fries Declared Cultural Heritage

Gold News From Around the World

Gold Reserves By Country

Save our Swiss Gold – What You Need to Know (with links to all updates)

The Importance of Gold to Nations and Individuals

Gold and Silver Manipulation – Suspected

Silver and Gold Manipulation – Actual

Why a no Vote on Save Our Swiss Gold is Good For Gold

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