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Central Bank Issues Stunning Warning: “If The Entire System Collapses, Gold Will Be Needed To Start Over”

Tyler Durden
October 14th, 2019
ZeroHedge
Comments (11)

This article was originally published by Tyler Durden at ZeroHedge.

It’s not just “tinfoil blogs” who (for the past 11 years) have been warning that a monetary reset is inevitable and the only viable fallback option once trust and faith in fiat is lost, is a gold standard (something which even Mark Carney hinted at recently): central banks are joining the doom parade now too.

An article published by the De Nederlandsche Bank (DNB), or Dutch Central Bank, has shocked many with its claim that “if the system collapses, the gold stock can serve as a basis to build it up again. Gold bolsters confidence in the stability of the central bank’s balance sheet and creates a sense of security.”

 

While gloomy predictions of a monetary reset are hardly new, they have traditionally been relegated to the fringe of mainstream financial thought – after all, as Mario Draghi stated on several occasions in recent years, the mere contemplation of a “doomsday scenario” is enough to create the self-fulfilling prophecy which materializes it. As such, it is stunning to see a mainstream financial institution open up about the superior value of limited supply, non-fiat, sound money assets. It is also hypocritical given the diametrically opposed Keynesian practices regularly engaged in by central banks and official institutions worldwide: after all, just a few months back, the IMF published a paper bashing Germany’s adoption of the gold standard in the 1870s as the catalyst for instability in the global monetary system.

Fast forward to today, when the Dutch Central Bank is admitting not only did gold not destabilize the monetary system, but it will be its only savior when everything crashes.

The article, titled “DNB’s Gold Stock” states:

“A bar of gold retains its value, even in times of crisis. This makes it the opposite of “shares, bonds, and other securities” all of which have inherent risk and prices can go down.

According to the IMF’s latest data, the DNB holds 615 tons (15,000 bars) of gold mainly in Amsterdam, with other stores in the U.K. and North America; the value of this gold reserve is over €6 billion ($6.62 billion). Calling gold the “trust anchor,” the article details briefly why the hard asset is so important to wealth building and the global economy, claiming: “Gold is… the trust anchor for the financial system. If the whole system collapses, the gold stock provides a collateral to start over. Gold gives confidence in the power of the central bank’s balance sheet.”

Why this sudden admission of what gold bugs have been saying for years? Perhaps it has to do with the fact that on October 7, the bank announced it would soon be moving a large part of its gold reserves to “the new DNB Cash Center at military premises in Zeist.”

Almost as if the Netherlands is preparing for the grand reset, and is moving its most valuable asset to a “military” installation just for that purpose.

As bitcoin.com tongue-in-cheek points out, “DNB is no stranger to playing along with the Keynesian, inflationary games of the global monetary system. A system which, according to some, is now more a Ponzi scheme based on force and blind faith than sound economic principle. That notwithstanding, the centralized financial powers of the world know the real score, and that’s why hard assets like gold are hoarded and locked down while every day, individual residents of these geopolitical jurisdictions are encouraged to spend and spend, going further into debt to prop up ultimately unsound national economies.”

It is hardly a coincidence that in its preparation for monetary doomsday, the Dutch Central Bank is also set to begin cracking down on crypto exchanges and wallets, stating that “firms offering services for the exchange between cryptos and regular money, and crypto wallet providers must register with De Nederlandsche Bank.”

While the push for greater KYC/AML transparency is a growing global trend, and is hardly surprising in a world in which trillions in assets reside in “tax-evading” offshore jurisdiction, the remarkable aspect of this latest crackdown against crypto – which many see as a modern, more efficient form of “gold” – is the fact that invasive regulations and restrictions by central banks can be seen as yet another means of stockpiling precious assets. This time, not gold bars, but bitcoin and crypto.

As for the timing of the “great monetary reset”, which other central banks have already quietly hinted at themselves amid massive repatriation of physical gold from the New York Fed to various European central banks such as Germany and Austria, we are confident that the trust-keepers of the current establishment – such as other central banks and the IMF – will be kind enough to provide ample advance notice to the citizens of the “developed” world to exchange their fiat into hard assets. Or, then again, perhaps not.

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Author: Tyler Durden
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Date: October 14th, 2019
Website: https://www.zerohedge.com

Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

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11 Comments...

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  1. Bill says:

    If/when the dollar collapses, the gov’t and central bankers will be starved for liquidity and assets for a variety of reasons.
    As for banking institutions, when the dollar goes the economy will be wrenched, there will be a general massive and willful default on loans and credit card acc’t.s, mortgages and car loans, etc. across the nation. The banks or whatever loan institutions will foreclose, confiscate or repossess property, or make claim on collateral to recover, but it won’t help much because these assets that were previously valued in dollars would lose almost all their dollar value in a dollar collapse. However, banking institutions have already been authorized to seize ALL checking acc’t.s, savings acc’t.s, CD acc’t.s, safety deposit boxes, etc. in the event of a monetary / financial crisis.
    I read an article that various cities and counties in the US in the 1930’s could not (or would not) pay their public employees sometimes for several months at a time, as a result many of those same employees had their homes and property taken from them by their very employer because they could not pay the property taxes. As for gov’t (at all levels), taxes will not be paid, public pension plans will be dramatically scaled back or cancelled. Social Security, Medicaid, and Medicare (which are already running on fumes) would be cancelled or hugely scaled back. Local gov’t people will show up at people’s home with guns forcing them to leave because property taxes weren’t paid, same for vehicles and all motorized equipment, etc. No one will be buying T-notes, T-bills, or T-bonds, muni bonds, state bonds, etc. to fund gov’t.
    You can bet in a dollar collapse an effort will be made to confiscate gold (and probably other precious metals), it won’t make any difference if it’s bullion or numismatic.
    Probably the only way to maintain some semblance of economic order in a “reset” would be some type of general debt Jubilee. Otherwise there will be financial AND political / civil disorder on a national scale.
    The most valuable thing they will try to strip away during a dollar crisis will be your freedom and rights because they know the populace will be in an uproar (note: wealthy “elites” and officialdom will be largely untouched).
    There is no telling how a monetary / financial crisis would ultimately play out, but it won’t be pretty. The national gov’t no doubt has plans for different scenarios but they’re not going to tell you or me.

    • Frank Thoughts says:

      You are right. And it is even easier now to lock people down and shut the borders than it was 50 years ago.

      Keep in mind: all the gold that has been sold in the last 10 years has been logged and tracked. They know who has it and they know how much. It would be easy to seize, or better still, just hit you with a tax when you file your IRS statement. No drama snatching it from you; they just have to say “Thank you Mr Stevens Whiteman for your 2020 tax filing! We cross checked with our records and found you have 6 Troy ounces of gold in your possession. Under Federal Executive Order 1199472 you will need to pay a precious metals tax. We calculate this comes to $10,000. You have 30 days to pay or face 5 years in jail. Thank you and have a great day !! MAGA”

  2. Now this is the SHTF we all know and love says:

    It’s time to hawk gold again.

  3. rellik says:

    I urge all of you to waste your money by investing in gold.
    I will continue to invest in land. We will see who eats, drinks, and lives better when SHTF!

  4. Frank Thoughts says:

    Trump is a genius: he is detonating the global economy SIMULTANEOUSLY while detonating the global security structure. This will dethrone the US dollar, get US forces pulled from all their global bases and launch the new multilateral order under the aegis of China and Russia.

    And just in time for 2020 election. America will then be able to focus entirely on re-building without carrying the water and the burden for global security and the global economy. This will unleash unprecedented prosperity for the US. Right now the biggest burden the US has is paying for global security and funding a vast network of corrupt vessel states. In a multilateral world, China and Russia will have to pay for this stuff, and the US can focus on high-profit stuff like selling technology, IP, weapons, food, oil and gas etc.

  5. Anonymous says:

    Getting ready to fall back on the older religion instead of the new one eh? A bar of gold is intrinsically worth precisely dick. But hey, psychology, can’t really beat that…

  6. Jul 2, 2018 New Briefings: Alliance Seizing Trillions Stolen By Deep State, Preparing to Give It Back

    At least four independent insider sources have revealed that the Alliance is now locating and legally seizing trillions and trillions of dollars in assets stolen by the Deep State.

    https://divinecosmos.com/davids-blog/21127-new-briefings-alliance-seizing-trillions-stolen-by-deep-state-preparing-to-give-it-back/

  7. Yohan Smythe says:

    WOW. Get ready if you aren’t already.

  8. THE Q says:

    AU = GOLD … GET it while you still can…..

  9. Gold isn’t the answer. See #CreativeCurrencyOctaves, a supplemental currency model to ensure Universal Basic Income, holding claim to both the fairest proposed solution to income inequality, and the best monetary system possible.

    Also, X-Cents- a simple Universal Currency Assurance Plan.

    Read for free: http://www.BetterToBest.wixsite.com/Book

    • cranerigger says:

      Duke, the folks running the world don’t care about EQUALITY OF INCOME. Many of them want to drastically reduce the population. If a person cannot contribute to the society, they deem that person a “USELESS EATER.” Useless eater refers to someone that consumes (food & other goods) without providing “value added skills & services” to the society. Urge those you know to learn some useful skill to keep them off the ACCEPTABLE LOSSES list.

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