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...
- Quotes of the day Allahpundit 10 hours ago
- Hensarling: It’s time to end the Ex-Im Bank Ed Morrissey 12 hours ago
- Got room for one more crisis? In Pakistan, protesters threaten government’s stability Noah Rothman 14 hours ago
- Engel: Military officials “apoplectic” over Obama’s “no-strategy” comment Ed Morrissey 16 hours ago
- The Democratic revolt continues: Key senator calls for Obama to arm Ukraine Noah Rothman 18 hours ago
- Nearly two years after Benghazi, American embassy in Libya’s capital falls to Islamists Noah Rothman 20 hours ago