Official information! Germany has decided its gold is in the hands of the Americans is safe. "Americans are concerned about our gold properly. Objectively, to distrust, there is absolutely no reason". Absolutely no reason for mistrust or absolutely no gold left to return to their homeland?
We want to offer our readers the conclusion:
Just last week, we published a post titled "End the fed", which literally blew up a German Internet. Interestingly, after just a few days later, we learned that German politicians decided to continue to keep the national gold in new York, instead of returned as planned.
The irony is that the official decision to leave a national treasure on the other side of the Atlantic came at a time when the protests against the fed spread around the country.
Frankly, this looks like a way to save face for Angela Merkel and her German friends. In the end, it is obvious that the fed has already told them "no" when it came to returning the gold. What other reason to transport gold from USA to Germany would take almost a decade (which was implied by the last schedule of returning to the gold)?
We learned from Bloomberg that:
Germany has decided its gold is in America safe.
Wave of distrust that has risen during the debt crisis in Europe, led to the decision to return to Germany all of its gold reserves to 141 billion dollars in gold from new York and London. Now, when there was a shift of politicians in the entourage of Chancellor Angela Merkel, the government concluded that the best solution would be to hide half of the total national gold overseas.
"Americans are concerned about our gold properly, said in Parliament on budget policy expert Norbert Barthle. — Objectively, to distrust, there is absolutely no reason".
Talk of the return of the second largest world reserves, away from potentially touchy relations between the United States and Germany. This can also be seen as a rebuff to critics, in favour of the alternative to the euros who insist on returning the gold to Frankfurt, so you couldn't use it to blackmail Germany with the aim of preserving the single currency.
Germany's Central Bank, the Bundesbank sent in 2012, the Commission, in the Federal reserve vault in new York to check national stock of gold.
Since the national gold is in its custody, Bundesbank is obliged to ensure its safety.
They say it is quite prudent to keep some gold reserves outside the country, in case of extreme necessity you can easily exchange it for foreign currency.
The last statement is striking in its Orwellian irrationality. Easy to exchange gold into foreign currency? Foreign currency can indefinitely inflate roguish bankers in expensive suits with fake smiles and complicated set of economic terms in stock. And Germany hopes to keep the possibility to exchange their gold?
German gold reserves are the second largest reserves after USA. According to the world gold Council, on March 31, they amounted to 3 tons 386,4. Most of these reserves are stored in new York, the rest in London, Paris and Frankfurt.
- 02-05-2020Four of the Americans ' Outlook: what will happen to the world economy and the US economy
- 21-02-2020The phantom menace: the non-obvious consequences of the depletion of nature for the economy
- 24-07-2019Look at the future of business: five trends postremoval era
- 23-06-2019Industrial revolution 4.0: how the Internet of things is changing business and how to stay afloat