Germany Brings Its Gold Home
They are finally allowed to get some of their own gold back 
:):)
I wouldn't bet on the "half back yo Frankfurt " though
No way that they are going to get it back. Even the story of 120 tones is fishy
No way that they are going to get it back. Even the story of 120 tones is fishy
They were told that there is now space where they can inspect their own gold and now the story is that they are bringing it home. That is a damage control not a news. News would be that they found their gold
They were told that there is now space where they can inspect their own gold and now the story is that they are bringing it home. That is a damage control not a news. News would be that they found their gold
Using swimming donkeys to transfer it over the Atlantic
Using swimming donkeys to transfer it over the Atlantic
If they test it they might find out that they have the same "gold" as Ukraine : led painted in gold color
Interesting : now it turns out that 35 tons of that 120 tons were brought back from France (not the USA). What was preventing them to bring back the gold from France before?
Dominic Schnider, global head of commodity research at UBS Wealth Management told CNBC, "Holding gold in key financial centers (New Tork, London or Paris) makes sense and can give access to foreign currencies like the U.S. dollar. On the other hand, we have seen how easy money printing is. Thus, we don't need gold anymore as collateral."
He added: "Nevertheless, holding some gold at home is not a bad idea in an age of ballooning central bank balance sheets. As a reference, Hong Kong also shipped its gold back home from London some years ago."
Analysts, however, did not expect any immediate reaction in gold or currency markets to any gold repatriation from the Bundesbank.
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Germany repatriated 120 tonnes of its gold back to the Bundesbank’s vaults last year, the bank announced on Monday.
The German central bank said it “stepped up” its bullion transfers during 2014, bringing 35 tonnes of its gold from Paris and another 85 tonnes from New York.
“Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," Carl-Ludwig Thiele, member of the Executive Board of the Deutsche Bundesbank said in a statement.
He referred to the scheme which was announced in back in 2013, after a German federal court ruled that officials should audit gold reserves held overseas. The country aims to bring 674 tonnes, or half of Germany’s total stocks, back to Frankfurt by the end of the decade.