Yes, it does seem there is really something rotten in Denmark with the US gold supply and the status of its holding of foreign gold. It would not surprise me at all to find that much of that gold has been leased for the purpose of selling into the open market to keep the market price of gold down.
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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