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Wednesday, February 5, 2014

Where the *Bleep* Is Germany’s Gold?

Where the *Bleep* Is Germany’s Gold?

Where the *Bleep* Is Germany’s Gold?

You may have heard something about this story, but I think it’s important to take a few minutes to restate the facts clearly. In the modern news environment, stories come and go so fast – and in so many parts – that it’s very easy to get lost along the way.So, here’s what we know so far:

*In 2012, the Bundesbank (the central bank of Germany) asked to visit the vault of theFederal Reserve in New York, to view the 1,536 tons of gold they have stored there.
*The Federal Reserve told them no. They were not allowed to see their gold.
*In response, Germany said that they wanted 300 tons of their gold back.
*The Federal Reserve said that they’d need seven years to get the gold back to Germany. (Something that should take them seven weeks, tops.)
*One year later, the Fed has returned only 5 tons of gold to Germany. At this rate, it will take 60 years for the Germans to get less than one fifth of their gold back.

Though I don’t know precisely what, it is very clear that something strange is going on here… something that the prestigious central bankers want to keep away from the light of day.

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