Why Are Germany Repatriating Their Gold?

Thursday, January 17, 2013

This week few will have missed reports that Germany is getting closer to bringing its gold investment reserves home. Following questions asked in Parliament in 2012 regarding the 3,396 tonnes of gold bullion, the Bundesbank are set to announce tomorrow a new concept in how they store Germany’s gold reserves.
Reported in an exclusive by German newspaper Handelsblatt, Buba intends to remove some of its gold held in New York, and all of the gold held by the Banque de France. Considering various representatives of the German central bank denied claims that they would be looking into repatriating the gold bullion investments, one has to wonder what’s made them take such a decision.
When the repatriation issue raised its head late last year, the mainstream media coverage of Germany’s actions regarding their gold reserves seems to have an underlying accusatory tone to it. It’s almost as if by the Bundesbank openly admitting it is looking out for its own finances, for its own country and its citizens, it is being unpatriotic to the global cause of pretending that a highly leveraged, fiat money, banker-centric, government-spending driven economy is exactly how things work best.

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