Tuesday, June 24, 2014

Fed (USA) 1 Germany 0: Eurozone leader gives up on getting its gold back from central bank

Under growing public pressures, Germany had called for a repatriation of their offshore gold reserves being held in French, British, and U.S. central banks back in 2012.  However, because the Fed claimed ‘logistical’ issues in delivering it back to them, the Eurozone leader had to accept a seven year shipping schedule from the U.S. to ever have it returned.

And now, on June 23, Germany suddenly appears to have changed their mind, and are telling the Fed (which had only repatriated a whopping 5 tons out of 300 in 2013) that they no longer want their gold shipped back home, and happily trust in the central bank’s word that they have their gold holding secure.

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