SOTT EXCLUSIVE: Gold Fever! Now French demand for return of their gold

WOW! That didn't take long. 3 days after the Dutch National Bank announced that they had managed to get 122 tons of gold back from Uncle Sam, which is detailed here, a demand from Marine Le Pen has appeared, in the form of an open letter to the French Central Bank governor, asking for the repatriation of French gold. The news of this open letter is not to be found on a Google news search (in French), but only on the web site of Le Front National, which is the party for which Marine Le Pen is president.

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Marine Le Pen, who would be elected president of France today in a hypothetical election, would like to have French gold audited and back home.

Yes, the mainstream media in France just like in the US only likes to quote from the one party, which is cleverly disguised as a left and right-wing party to give the illusion of democracy and hence choice. And thus in France the puppet changed from Sarkozy to Hollande, but that made no difference. Same circus, same BS! And hence no news about this important letter.

Marine Le Pen asked for the full audit of all French gold, including test for purity, amount and where it is stored. She would like to see 20% of foreign currency reserves kept in gold, which is what the Swiss are asking for too. She also sees it as decisive for the future of France and unlike the Dutch is fully aware that the cold war is happening at the present time between the Western countries and the BRICS countries.

Here is the letter in full translated into English:

Mr Christian NOYER

Governor of the Bank of France

31 rue Croix des Petits-Champs

75049 PARIS cedex 01

Open letter to Mr. Christian Noyer on the gold reserves of France

Mr Governor,

On behalf of the French, and in my capacity as the main leader of the opposition, I have the honour to write to you, because it is my duty to present to you a query on the gold reserves of France, within the best interest of our nation.

Even before the outbreak of the crisis in 2008, the National Front had anticipated and informed the political institutions of the aggravation coming of the context macro-economic and geopolitical. In the framework of the economic model of increasingly right-wing adopted by France under pressure from Brussels, no economic fundamentals can improve sustainably. All the French can see that the austerity policies demanded by the European Union and the ECB and carried out by the government are a proven failure and have been serious for our country.

The monetary institution you lead has a historic mission to be the central bank depositary of the national monetary reserves including gold reserves. According to our strategic vision and sovereign, they do not belong neither to the State nor to the Bank of France, but the French people and also serve as the ultimate guarantee for the public debt and our money.

In the cold war, money that is played between the western countries and the BRICS countries, gold is gradually picking up an important role. According to the World Gold Council, the official reserves of gold from China, India and Russia increased significantly between 2007 and 2013.

For these reasons and in light of the rapid increase of global systemic risks, it is of the utmost importance to the future solvency of our nation to engage, by mid-2015, a procedure detailed auditing the results of which will be the subject of a report. This report will have to obtain the validation of the authorities macro-prudential French, CAPRA, and then will be made public in the year.

This comprehensive audit should contain :

• a complete inventory of the quantities of physical gold, the currently displayed at 2435 tonnes, as well as their quality (serial number, purity, bars 'Good Delivery'etc.), conducted by a body independent French (to be defined). This inventory, under the control of an usher, will need to indicate the country in which the gold reserves are stored, in France or abroad.


• A census of any contract of commitment financial official or secret vis-à-vis banks and private companies, or bilateral loan between France and national or international institutions, having secured the gold of France in order to ensure the rescue of the euro. In this case, the comprehensive audit shall contain the terms and conditions of contracts of employment, or loans.

By the way :

• On the 30th of November, will be held in Switzerland a vote following a request for a referendum on popular initiative " Save the Switzerland's gold " of the party (UDC Democratic Union of the Centre), which offers the repatriation of their gold reserves on their land.


• It is understood, at the request of some national central banks advised, this phenomenon of campaign for the " return of the gold reserves of the national and democratic control exists since 2013 in Germany (Bundesbank), Poland etc.


• It is understood that the Dutch central Bank has recently indicated that it had repatriated 122,5 tons of gold.


• It is understood that, on may 19, 2014, the Bank of France to the side of the other banks of the Eurosystem, has announced that it has signed the Washington agreement on gold sales CBGA 4 (Gold sales Under the Central Bank Gold Agreements), which does not provide for quotas on sale this five-year period (2014 to 2019), in contrast to the three previous agreements.


• The fact is understood that the Bank of France already independent, conducted in the framework of the agreement CBGA 2, gold sales in 2004 as decided by Nicolas Sarkozy, then minister of Economy and Finance during the Raffarin government.

The official objective was displayed to manage more actively in the foreign exchange reserves of the State in order to generate € 100 million of additional tax revenue in 2005. N. Sarkozy also said that the sale of gold would be used either to finance investments that prepare for the future, either to reduce the debt, but in no case to fund the operating expenses ".

Over the period 2004-2012, about 614,6 tonnes of gold have been sold by France while at the same time the other Eurosystem central banks including the ECB pledged to limit their gold sales. According to a report by the Court of Auditors of 2012, this is extremely costly to the government and constitutes a serious violation of the national heritage, carried out without any democratic consultation.

The Governor, according to your statements, " gold remains an important element of global monetary reserves". For the French, you are considered to be the guarantor of last resort of the safety of this gold reserves and, therefore, the stability of our currency and the stability of the national financial. As a result, your responsibility is immense.

Also, depending on the situation, we will find out, I urge you to proceed :

• The repatriation urgent on the French soil, all of our gold reserves abroad.


• Has the immediate termination of any program to sell gold.


• Conversely, a progressive reallocation of a significant part of the foreign exchange reserves in the balance sheet of the Bank of France, for the purchase of gold, at each significant decline in the price of an ounce (recommendation 20%).


• The suspension of any contract of commitment, financial or lending gagerait our gold reserves.


• The statement of assets and financial transactions of gold in 2004 ordered by N. Sarkozy.

The implementation of these measures is decisive for the future of France in the face of socio-economic problems that may occur.

Just like your heroic predecessors of the Bank of France in 1939 and 1940 had organized the evacuation of the French gold, you will need to undertake this vast security operation of the national treasury, patriotic act which will be recognized in time by public opinion.

I hope that, respectful of your duties as a high official in the service of the State, you know to show the clarity and the courage necessary to the defence of the general interest of our country. The challenge is considerable, it is the future of France, which it is !

I beg you to accept, Sir, the Governor, the expression of my highest consideration.

Marine Le Pen

Marine Le Pen is the leader of the right-wing Front National and has sharply criticized the EU for the demonization of Russia and their lack of care for people dying in the South-Eastern Ukraine. She would also win the presidential elections in France if they were held today. In the last EU parliamentarian elections in 2014, her party also came first with 24.86% of the vote.

So it appears that the Dutch repatriation of some of their gold and the coming Swiss referendum has sent a few shockwaves. The voices of the people in other countries are bound to increase. The gold initiatives in Germany and the one in Switzerland have also been by the people, not by the leading politicians or bankers in power.

Now that we are on French gold, there was one article just yesterday carried by the right-wing establishment paper Figaro, that talked about gold. It mentioned that private people in France hold around 3000 tons of gold, which represent €90 billion. The article talked about how this much gold could kickstart the economy. That does not sound so friendly, when it comes from an establishment source and one gets the feeling that the government is eyeing the gold in private hands to get them out of a tight spot. Confiiscation has happened before! Even though the central bankers and world leaders downplay the role of gold and often talk about it as a relic of a bygone era, signs are that this is not true at all. Gold is key for a country's stability and Le Pen could well be right in saying that it is decisive for the future of France.

Aeneas Georg

I'm a train manager and ticket inspector on international train routes in Europe. I've been reading SOTT since 2003 and first joined the editorial team in 2007 after realizing I had to do something about the deteriorating state of our world. I'm particularly interested in 'following the money' to track the machinations of the deceptive ones in high places. I suppose you could say I've taken my chosen profession to a new level, and now with SOTT I'm "inspecting the flows" of people and money in more ways than one.