A run on real money appears to be underway. While they may not officially acknowledge it, I believe political leaders around the globe are realizing that the gold they stored with Western banking institutions may no longer be there.

They are scrambling in desperation to get their gold back, but it may be a game of musical chairs with dozens of participants and only a few chairs.

First Germany attempted to repatriate 300 tons of their gold from the NY FED and was told they could only have a small percentage of it back over seven years! Venezuela was somehow able to accomplish this feat and then the Netherlands was successful at getting their gold back secretly. Switzerland votes this weekend, but their central bank and political leaders have come out in full force against the referendum. The propaganda is think and has been successful at swaying the vote against the gold referendum .

Now the French right-wing Front National, which has seen its popularity and political power rise significantly as of late, sent a letter to the governor of the French Central Bank demanding that France join the list of nations which have repatriated, or at least attempted repatriation of their gold.

From her letter:

Urgent repatriation on French soil of all of our gold reserves located abroad.

An immediate discontinuation of any gold sales program.

Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) .

A suspension of any financial commitment or loan contract would wager that our gold reserves.

At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy.

Her full letter below (link)

Mr. Christian Noyer Governor of the Banque de France

31 rue Croix des Petits-Champs

75049 PARIS Cedex 01 Nanterre, November 24, 2014 Open letter to Mr Christian Noyer on the gold reserves of France Dear Governor On behalf of the French and in my capacity as the main opposition leader, I am writing to you because it is my duty to present a petition on the gold reserves of France, under the best interests of our nation. Even before the outbreak of the 2008 crisis, the National Front had anticipated and informed the political institutions of the future worsening of the macro-economic and geopolitical context. As part of the business model increasingly libertarian adopted by France under pressure from Brussels, no economic fundamentals may not sustained improvement. All French can see that the austerity policies demanded by the EU and the ECB and implemented by the government are a proven failure and serious for our country. The monetary institution you lead a historic mission to be the custodian of national central bank monetary reserves including gold reserves. According to our strategic vision and sovereign, they are neither the state nor the Bank of France but the French people and in addition serve as the ultimate guarantee of public debt and our currency. In monetary Cold War played between the Western countries and the BRICS countries, gold gradually takes an important role. According to the World Gold Council, China’s official gold reserves, India and Russia have increased significantly between 2007 and 2013.

For these reasons and because of the rapid growth of global systemic risk, it is of utmost importance to the future solvency of our nation to engage, by mid-2015, a detailed audit procedure, the results will be the subject of a report. This report must obtain validation of French macro-prudential authorities, ACPR, and will be made public in the year. This comprehensive audit should contain: A complete inventory of physical gold amounts to 2435 tons currently displayed and their quality (serial number, purity, bars ‘Good Delivery’ …), conducted by an independent French body (to be defined). This inventory, under supervision of a bailiff, must indicate the country in which the gold reserves are stored in France or abroad.

A census of all formal financial employment agreement or secret vis-à-vis private banks and corporations, or bilateral loan between France and national and international institutions, having pawned the gold of France to ensure rescue of the euro. In this case, the comprehensive audit should contain the conditions of agreement or loans. Furthermore: Whereas, on 30 November, will take place in Switzerland a vote on a request from popular initiative referendum “Save gold for Switzerland” of the UDC party (Democratic Union of the Centre) which provides for the repatriation of their reserves of gold on their soil. Whereas at the request of some national central banks informed, this country phenomenon for the “return of national gold reserves” and democratic control exists since 2013 in Germany (Bundesbank), Poland etc. Whereas the Dutch Central Bank recently said it had repatriated 122.5 tons of gold. Whereas, on 19 May 2014 the Bank of France along with other banks of the Eurosystem, announced it has signed the Washington Agreement gold sales CBGA 4 (Dirty Gold Under the Central Bank Gold Agreements) which provides no transfer of quotas on this five-year period (2014-2019), in contrast to the three previous agreements. Whereas in fact, the Bank of France already independent, conducted as part of the agreement CBGA 2 on gold sales agreed in 2004 by Nicolas Sarkozy, then Minister of Economy and Finance of the Raffarin government . The declared official target of more actively manage the foreign exchange reserves of the state to generate € 100 million in additional tax revenue in 2005. N. Sarkozy also said that gold sales would be used “either to finance investments that prepare the future, either to reduce the debt, but in no case to fund operating expenses. ” Over the period 2004-2012, about 614.6 tonnes of gold were sold by France, while at the same time the other central banks of the Eurosystem with the ECB have agreed to limit their gold sales. According to a report of the Court of Auditors in 2012, this operation is extremely costly for public authorities and constitutes a serious violation of the national heritage, made without any democratic consultation. Mr Governor, according to your statements, “gold remains an important element of global monetary reserves.” For the French, you are considered the ultimate guarantor of the security of this gold reserve and therefore the stability of our currency and national financial stability. As a result, your responsibility is huge. Also, depending on the situation we discover, I urge you to do it: Urgent repatriation on French soil of all of our gold reserves located abroad.

In immediate discontinuation of any gold sales program.

Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) .

A suspension of any financial commitment or loan contract would wager that our gold reserves.

At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy. The implementation of these measures is crucial for the future of France face 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 French gold, you need to undertake this vast national treasure of the security operation, patriotic act which will be recognized in due time by the public opinion. I sincerely hope that, respectful of your duties as a senior official in the service of the state, you demonstrate lucidity and courage necessary for the defense of the general interest of our country. The stakes are high, it is the future of France in question! Please accept, Excellency the Governor, the assurances of my highest consideration. – Marine Le Pen

Perhaps this sudden interest in gold by political leaders worldwide will wake up the people, increase gold demand and put a floor under prices. All of this news may even be enough to sway the vote back to “Yes” in the Swiss Referendum. In the meantime, China, Russia, India and others nations continue to increase their gold reserves at breakneck speed.

People should take this French development seriously. The last time that the French wanted their Gold, back in 1971, they sailed two Warships into New York Harbor in order to get it.

In the meantime, stay safe Marine Le Pen. The central bankers don’t take too kindly to people requesting that their real money be returned. Avoid light aircraft, nail guns, knives, tall buildings, bathtubs, etc, etc.

Of course, even more important than the gold repatriation requests may be the realization that the fractional reserve fiat money system is coming to an end. It was never sustainable and propped up only by illusion and faith in that illusion. As it falls apart, there will be a mad scramble for tangible assets whose valued cannot be debased overnight by central banks. When this happens, prices for gold and silver will finally make the moonshot that so many investors have been anticipating. It is only a matter of time.

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