Skip to comments.Is Germany preparing for future capital controls?
Posted on 02/01/2013 11:02:22 AM PST by arthurus
The Bundesbank said the purpose of the move was to "build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold-trading centers abroad within a short space of time." It's just satisfying the worries of the commoners, in the mainstream view, as well as giving themselves the ability to complete transactions faster. As evidence that it's nothing more than this, Bundesbank points out that half of Germany's gold will remain in New York and London (the US portion of reserves will only be reduced from 45% to 37%).
Sounds reasonable. But these economists remind me of the analysts who every year claim the price of gold will fall they can't see the bigger implications and frequently miss the forest for the trees.
(Excerpt) Read more at caseyresearch.com ...
Inflation is starting to bite.
Today Europe, tomorrow the world!
Seriously, if you were a European country, would you want Obama’s country controlling your gold?