– Bundesbank has completed a transfer of gold worth 24B from France and U. S.
– Germany has completed domestic gold storage plan 3 years ahead of schedule
– In the 7.7 million plan, 54,000 gold bars were shipped and audited
– In 2012 German court called for inspection of Germany’s foreign gold holdings
– Decision to repatriate from Paris and New York was ‘to build trust and confidence domestically’
– 1,236t or 37% of German holdings remain in New York Fed facility
– Bundesbank wants to hold gold bullion
– U. S. government declines to audit gold reserves … doesn’t want world to realise gold’s importance in the global monetary system
Editor: Mark O’Byrne
Last Monday, U. S. Treasury Secretary Mnuchin feigned to inspect the U. S. gold reserves in Fort Knox and joked flippantly that he assumed it was there.
A day later the Bundesbank, announced that they had repatriated much of their gold reserves from the U. S. and France. Coincidence or coordination?
In 2013 the Deutsche Bundesbank announced plans to store half of its gold reserves in Germany. At the time, only 31% was stored in the country. The Gold Storage Plan involved bringing gold home from both Paris and New York.
This post was published at Gold Core on August 25, 2017.
Follow on Twitter
Recent Comments