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...
- In effort to shield Obama from criticism on ISIS, White House makes everything worse Noah Rothman 26 mins ago
- Video: Mitt Romney takes the ALS Ice Bucket challenge Allahpundit 1 hour ago
- A Christian conundrum in conservative rhetoric? Ed Morrissey 1 hour ago
- Sanitizing terror: Has the press distorted Islamic radical’s crusade against gay men? Noah Rothman 2 hours ago
- Family friend tells WaPo: Yes, Darren Wilson did suffer an eye socket fracture Allahpundit 3 hours ago
- Let’s play ‘What if a GOP’er Said It’ with Harry Reid’s racially insensitive jokes Noah Rothman 3 hours ago