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...
I was already aware that it will take SEVEN YEARS to repatriate 300 tons of gold to Germany. That begs the question: why seven years? Either the gold is not there -or- the gold is there, but it has been sold or leased to someone else & can be accessed now. Has the Federal Reserve been selling or leasing gold in an attempt to hold the price of gold artificially low? I was also aware that all the gold mined in China, remains in China -plus- China is using surplus paper US Dollars to import more gold from other nations. China is one of the few smart nations that realizes gold, not paper, is real money. Western Central Bankers are either idiots or they are purposely trashing the US Dollar & Euro & purposely creating a monetary collapse.
- CDC: Up to half a million Ebola cases by end of January Noah Rothman 33 mins ago
- Video: South Park ad hits Redskins … during Redskins game Ed Morrissey 1 hour ago
- NYT: Daniel Inouye was the senator who told Kirsten Gillibrand that he likes his girls chubby Allahpundit 1 hour ago
- Blair: The West had better not rule out ground troops Ed Morrissey 2 hours ago
- Among us: Officials confirm American ISIS fighters have returned to United States Noah Rothman 3 hours ago
- Buzzfeed finds more lifted text in Mary Burke’s campaign; Update: Burke: Hey, no biggie Ed Morrissey 3 hours ago