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| Europe |
| Germany gives up on repatriating its gold from the US & UK |
| 2014-06-24 |
| The Germany government, that was for a time insistent on bringing its entire $141 billion gold reserve home from New York and London, has concluded that stashing half its bullion abroad is prudent after all. The Bundesbank, Germany’s central bank, sent a delegation to the New York Fed’s vault in 2012 for spot checks on the hoard. As the gold’s guardian, the Frankfurt-based Bundesbank is obliged to ensure its safety. And they believed Obama when he told them, "When you want your gold, you can have your gold." BWAHAHAHAHAHAHAHA! “It’s my view that the gold reserves should be stored wherever they might be needed in an emergency,” Juergen Hardt, a member of Merkel's CDU, told reporters in May. There’s no evidence that German gold at the New York Fed has been tampered with, he said. Is there reliable evidence that the "German gold at the New York Fed" still exists? The top men of Germany's central bank seem to think so. Top men! German gold reserves, the second-biggest in the world after those of the U.S., totaled 3,386.4 tons on March 31, according to World Gold Council data. Due to German postwar history, the biggest part is stored at the Federal Reserve Bank of New York; the rest is in London, Paris and Frankfurt. After World War II and the export revival of West Germany’s “economic miracle” in the 1950s, the central bank accumulated dollars it swapped for gold at the Federal Reserve. With Germany split between capitalist west and the communist East German state until 1990, storing most of the gold abroad was a way to keep it out of Soviet reach during the Cold War. |
| Posted by:Anguper Hupomosing9418 |
| #9 LOL Oddball: Muck4Doo commands a tank platoon. Crapgame is really Tu |
| Posted by: Shipman 2014-06-24 19:04 |
| #8 "Why don't you knock it off with them negative waves?" |
| Posted by: Yosemite Sam 2014-06-24 13:57 |
| #7 How many Democratic administrations could a pile of seized foreign gold endure? I'm guessing not one. |
| Posted by: Iblis 2014-06-24 11:05 |
| #6 Au-Plated Tungsten. It's the new gold! Billie Sol Estes would be proud. |
| Posted by: Uncle Phester 2014-06-24 08:58 |
| #5 Invented by Dante, it's public domain. Sorry but that kind of speculation about gold being replaced by lead is on the same level as the chemtrails conspiracy. |
| Posted by: European Conservative 2014-06-24 08:34 |
| #4 ..basically, the same management team. There might be a ownership dispute but Congress hasn't gotten around to granting copyright perpetuity, yet. I'm sure they're working on it now. |
| Posted by: Procopius2k 2014-06-24 08:29 |
| #3 Over the Fed's doors is a famous inscription :"Abandon all hope ye who enter here". (I think that's the FED...) |
| Posted by: ed in texas 2014-06-24 07:58 |
| #2 No doubt the honest walls street vault lords show each country the same pile of gold painted lead as 'their country's gold'. Merely change the little country flag on the wall as the stooges walk to the vault. |
| Posted by: Airandee 2014-06-24 07:08 |
| #1 If we thought our gold was no longer there we'd simply (slowly) sell it (and buy from different sources). Much easier. |
| Posted by: European Conservative 2014-06-24 06:40 |