Amazing is it not, how quickly gold can be transported when there is a will (and the gold)? The Fed advised Germany that it will take eight years to comply with its request to return a portion of its sovereign gold ostensibly being held in custody at the New York Fed vault. Even so, the Fed is significantly behind schedule, having returned only 5 tons in the past year. If the following report is accurate, 33 tons of Ukraine's gold were airlifted out of Kiev airport early last week.
The question of where the bullion is headed is less the point than that of its size and rapid mobilization, something the U.S. Federal Reserve seems incapable of. Whether all or some of it is headed to New York as sovereign owned or to Switzerland to private accounts, one thing is certain; the Ukrainian people, whose labor ultimately paid for these reserves have no increased chance of ever seeing this gold again even it is the former rather than the latter: Newswire24: UKRAINIAN GOLD RESERVES LOADED ON AN UNIDENTIFIED TRANSPORT AIRCRAFT IN KIEV’S BORISPOL AIRPORT AND FLOWN TO U.S.
More this weekend.