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German Gold Claw Back Causes Concern

Dr_Zinj Wrote: Jan 23, 2013 10:24 AM
Ben Bernanke and Warren Buffet can not be relied on for truthful statements about economics, finance or wealth. They are heavily biased, and have massively insumountable conflicts of interest on these subjects. In short, everything they say is self-serving and to the rest of the world's detriment. The fact is, gold is a consistent, reliable repository for value and wealth. The fact that Germany is pulling their reserves back into their country is a strong indication that they expect the countries they are pulling from are about to try to seize/nationalize those hard assets.

Last week the Bundesbank (the German central bank) surprised markets around the world by announcing that it will repatriate a sizable portion of its gold bullion reserves held in France and the United States. To many, the news from the world's second largest holder of gold signaled a growing, if clandestine, mistrust among central banks, possibly fueled by diverging policy goals. The Germans have attempted to tamp down the alarm by highlighting the myriad of logistical, practical and historical reasons that qualified the announcement as unremarkable. But the size, scope, and timing of the move makes it hard not to draw...

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