Bundesbank to repatriate gold from Paris and NY

[G8trGr8t]

It seems that Germany is losing faith in fiat currency and is repatriating its gold supplies......ruhroh raggy

http://www.thelocal.de/national/20130115-47347.html

The Bundesbank is expected to announce on Wednesday that it will repatriate its gold reserves held in Paris and move back some which is currently in the New York Federal Reserve vaults, the Handelsblatt newspaper reported on Tuesday.

repatriating from NY Fed Reserves and returned to Germany but nothing on pulling anyout of Briitain, totally removing gold reserves from France...buthings that make you go hmmmmm

[madgator]

would you trust the current american leadership????

[orangeblueorangeblue]

How would that impact faith in fiat?

[philnotfil]

Originally Posted by G8trGr8t

It seems that Germany is losing faith in fiat currency and is repatriating its gold supplies......ruhroh raggy

http://www.thelocal.de/national/20130115-47347.html



repatriating from NY Fed Reserves and returned to Germany but nothing on pulling anyout of Briitain, totally removing gold reserves from France...buthings that make you go hmmmmm

Why France and the US, but not Britain?

[G8trGr8t]

France is EU based so they cannot get currency help from France if crisis arises.

US is constantly printing and devaluing currency so they are pulling a percentage from US as the currency they could get from US central bank would be less worth when printing catches up to $$ value.

Britain is not printing, is correcting fiscal problems, and is not part of the EU currency so they are safest.

If/when Germany leaves EU and restablishes their own currency, they will need the reserves and ablity to get help from other central banks that they trust. Apparently they trust the British the most. It will be interesting to see jsut how much they pull from the US as they currently have over 40% of their gold here.

[gatorev12]

Originally Posted by philnotfil

Why France and the US, but not Britain?

In addition to the facts mentioned by G8trGr8t (Britain's taking steps to curb long-term spending and is not printing money), Britain is not part of the euro currency union and has far more insulation from any of the fiscal problems affecting the Continent.

The pound sterling has long been one of the world's benchmark currencies--and is one of the most stable as well.

[orangeblueorangeblue]

Yeah but faith in fiat ...

[philnotfil]

If the reason is that Germany doesn't trust fiat currency, then why is the supporting evidence that Germany is pulling gold out of two countries with fiat currency and not a third? That makes it seem like fiat currency isn't what Germany has a problem with.

[G8trGr8t]

I guess it depends on what currency. It would appear to reflect zero confidence in the Euro, less confidence in the $$, and more confidence in the pound.

[orangeblueorangeblue]

Can you expound on that, too? There isn't a conversion happening here, so fiat is largely irrelevant.

[G8trGr8t]

why do you think they are repatriating their gold supplies in the manner in which they are doing it?

[bluelang]

Originally Posted by G8trGr8t

why do you think they are repatriating their gold supplies in the manner in which they are doing it?

30 seconds with google would have answered why they're actually doing it.

[Burke]

Everyone knows that its just a matter of time until fiat currencies around the world begin collapsing.

It's the only way govts can "pay" for the massive spending most of them are doing.

And what will people be using for money then?

Gold and silver, I believe.