THIS WEEK FROM GERMANY’S HANDELSBLATT: THE GOLD REPATRIATION IS ...
Just when you thought that all that fuss and muss about Germany repatriating its gold was over and done with when the Bundesbank, Germany's central bank, announced that it was satisfied that everything was shipshape at the N.Y. Fed, think again. Mr. V.T., a regular reader and contributor of articles here, found this post, from yesterday, at Investment Watch:
There are a number of new things here which, if true, are extremely intriguing for the simple reason that what was "high octane speculations" from last year and the year before, now seem to be entering the realm of speculation in at least major investment advisory site:
"Despite previously characterizing the idea that it was planning on moving gold out of the New York Fed as an “irrational fear,” the German Bundesbank is set to announce a huge repatriation of its bullion this week, with France also being emptied of German gold in a sign that trust between central banks has hit rock bottom.
“'In what could be a watershed moment for the price, provenance, and future of physical gold, not to mention the “stability” of the entire monetary regime based on rock solid, undisputed “faith and credit” in paper money, German Handelsblatt reports in an exclusive that the long suffering German gold, all official 3,396 tons of it, is about to be moved. Specifically, it is about to be partially moved out of the New York Fed, where the majority, or 45% of it is currently stored, as well as the entirety of the 11% of German gold held with the Banque de France, and repatriated back home to Buba in Frankfurt,' reports Zero Hedge. Apparently, since a significant proportion of that gold is now being moved out of the New York Fed, are we to assume that this “trust” no longer exists?"
What is new here is the Handelsblatt is now maintaining that all of Germany's foreign gold reserves, "all official 3,396 tons of it," is to be moved from the NY Fed and from the Bank of France.
But there's more, and my bet is that the reader noticed it too, and that is the reasons being offered for the new decision:
"Financial analyst Jim Willie sensationally claims that Germany is preparing to ditch the unipolar system backed by NATO and the U.S. in favor of joining the BRICS nations, and that this is why the NSA was caught spying on Angela Merkel and other German leaders.
"(The) real reason behind the recent NSA surveillance scandal targeting Germany was centered around the United States’ fear that Europe’s financial powerhouse is looking to escape from an inevitable dollar collapse."
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