For ordinary persons: The dollar is in danger of going bad, like the leftover crab-dip in the refrigerator. Can you buy things at the store with gold? or silver? So what do we do instead of gold or silver to recover some value from our dollars?
The financial world was shocked this month by a demand from Germany's Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt - including 300 tons from the Federal Reserve. The Bundesbank's announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany's behalf. One cannot help but wonder if the refusal triggered the demand.
Either way, Germany appears to be waking up to...
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