An official announcement last week that the Bundesbank had pretty much repatriated half its gold reserves ahead of schedule has once again sent the rumor mill into overdrive.
Fans of the precious metal – not shy of a good conspiracy theory – have been deliberating over the move ever since Germany detailed it back in 2013. Initially, there was a sense that trust between central banks had broken down with claims that Berlin was effectively questioning the credentials of New York Federal Reserve.
But the talk has now stepped up a notch with the Bundesbank confirming Thursday that it has already moved 583 tons of gold out of New York and Paris. Its plan to hold half its gold in Frankfurt is now three years ahead of schedule.
Reporting the news, Reuters said that some argue the world’s second-biggest bullion reserve “may be needed to back a new deutsche mark, should the euro zone break up.” This seems pretty far-fetched, especially given that the Bretton Woods system of fixed exchange rates ended back in the 1970s. Could Berlin really be prepping for the fall of the euro? Germany Gold “Gold Bullion” Bullion “Buy Gold” “Sell Gold” “Cash 4 Gold” “Cash for gold” German USA America Europe “United States” Offshore “Gold Vault” 2017 2018 euro “european union” forex fx “forex trading” “euro zone” silver “silver coin” “gold trading” London Banking “Bank Account” Savings “Savings Account” “stock market” collapse dollar usd future prepare survival news media trends “elite nwo agenda” elite “gold sovereign” “gold bar” “999 silver” “999 gold” “fine gold” “scrap gold” “gold mine” alex jones gerald celente jsnip4 jim rogers mark faber george soros rothschild rothchilds end game global reset Then there’s the Donald Trump angle. On Thursday, Bundesbank board member Carl-Ludwig Thiele felt the need to speak about the new U.S. president at his press conference – presumably because someone asked him.
“Trump has not triggered a discussion about the storage facility in New York,” he said, according to reports. Trump scaring global central banks to repatriate their gold in case he confiscates it? Sounds equally unbelievable.
Then there’s the rumors coming from Russia. Sputnik News, which incidentally has strongly denied accusations from NATO that it’s a Kremlin propaganda machine, reported that Germany had been given the wrong gold. Quoting Russian economist Vladimir Katasonov, the news site said the U.S. may have sold Germany’s gold bars years ago and hurriedly bought some back as the Bundesbank came knocking.
The Bundesbank held 1,619 tons of its gold reserves — 47.9 percent — in Frankfurt at the end of last year. That share will increase to 50.6 percent at the end of 2017. Some 1,236 tons of the metal will remain at the Federal Reserve Bank in New York, and 432 tons at the Bank of England in London.