I am typically hesitant to highlight foreign articles that have been translated by others from languages I can’t comprehend. That said, Koos Jansen of In Gold We Trust, is someone who does great work and so I am running with his latest blog post on German gold repatriation, or a lack thereof.
According to Peter Boehringer, Founder German Precious Metal Society, it appears that the German Bundesbank is backing away from a specific repatriation schedule for the nation’s gold. He sources this claim from a recent article written in the Handelsblatt, titled ”Silence is Golden.” So in other words, the Federal Reserve told them to get lost.
Here are excerpts from Koos’ translation of Peter’s piece:
Due to new developments, the initiators of the Repatriate Our Gold action today publish a small update. The print version of the German Handelsblatt today (02.06.2014) published a substantial three page feature exclusively on the German Gold Reserves, widely known to be stored by the German Bundesbank, the Fed, the Banque de France, and the Bank of England. Under the ambiguous title ”Silence is Golden,” no less than four Handelsblatt editors along with Norbert Häring, a senior and competent voice in matters of Gold vs Money, delivered a piece that is in parts pretty critical against the Bundesbank and addresses questions that are familiar to the readers of this blog.
The German Gold, opaquely held in custody by the Fed & other central and currently worth more than 100 billion Euros, is not only the core component of BuBa’s balance sheet and the property of the German people, but it is also a geopolitical issue and an important founding stone of the suspected world fractional gold banking system.
The Handelsblatt writes today: ”The policy makers are putting pressure on the Bundesbank.”
Handelsblatt: ”The repatriation falters – for enigmatic reasons.”
Handelsblatt: ”Due to ‘logistical challenges,’ the BuBa no longer feels bound to its promise to the Bundestag.”
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