Germany completes return of 300 tons of reserve gold from US
Posted on 02/09/2017 7:10:47 AM PST by Olog-hai
Germany has completed an effort to bring home 300 metric tons (330.7 tons) of gold stashed in the United States, part of a plan to repatriate gold bars kept abroad during the Cold War.
The German central bank said it brought 111 tons of gold back from the Federal Reserve in New York last year, concluding in September — the last of 300 tons slated for return. […]
Once the transfers are completed, Frankfurt will hold half of Germany’s 3,378 tons of reserve gold, with the rest in New York and London. […]
During the Cold War, West Germany kept most of its gold abroad for fear it could fall into the hands of the Soviet Union if the country were invaded. Another reason was to have the precious metal close to foreign currency markets in London, Paris and New York, where gold is traded. …
(Excerpt) Read more at hosted.ap.org ...
I wouldn’t be surprised if there is just one vault full so they have something to show people and the rest of the vaults are empty.
This gold is from post-WWII.
That’s not the context I was asking in. And I don’t suspect it’s the context they are doing this in, not after the Bundesbank president still claims “we have a trusting relationship with the Fed” and all. Never mind what they themselves do with the euro currency.
Just last night I had a dream about Trump demanding an audit of Fort Knox, something that hasn’t been accomplished since (50?) years ago. It’s time.
Maybe it’ll turn out to be a premonition.
The only reason Fort Knox exists is due to FDR’s executive order banning private ownership of gold coins, bullion and certificates.
FYI
What happened to Libya’s gold?
There will never be a better time to reveal the truth about what previous presidents have done.
Inventory the gold and let the cards fall where they may.
If we ever have another democrat president you know he/she wouldn't hesitate to blame any missing gold on Trump.
And Merkel says,
“Danke, Qadaffi!”
“And I don’t suspect it’s the context they are doing this in, not after the Bundesbank president still claims “we have a trusting relationship with the Fed” and all.”
If I wanted to get my gold back from them I would probably say that too, at least until I got it all back.
Seems remarkable to me that they are continuing this knowing Trump’s fiscal stance contrasted with his two predecessors. Never mind their insistence on essentially rattling sabers against Trump.
Truthfully, there has long undercurrent of concern that a lot of the gold the US was tending was no longer as secure as it had been, for all sorts of reasons. Even the state of Texas recalled its gold stored in NYC.
Constitutionally, states can issue their own currencies but only if those currencies are backed by physical gold. And because of Obama, several states made overtures in that direction.
I see the future of reserve gold as rather peculiar.
Canada mints gold coins of very high purity, so high in fact, that they can be laser engraved with holograms. But pure gold is very soft, so these coins must be stored in individual boxes to protect them.
The US could do the same, but with ingots of gold. After purifying them to a very high quality, each wide and flat ingot would be numbered, like paper currency, but then every surface of the ingot would be laser engraved with a unique and very complex mathematical holographic pattern that would distinguish that ingot from any other.
Then sealed in a padded, tamper resistant box. The boxes would be quite strong, and stackable. They would provide low level security, but verification of the ingot would not rely on the box, but the hologram.
The object of the exercise is to create trouble free transfer without having to re-assay and restamp the gold.
I hope our costs of covered with the Shipping and Handling Fees. But wait, if you order now...
I wonder how much is Tungsten???
Germany completes return of 300 tons of reserve gold from US
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.