Germany to Fed: give us our gold backSubmitted by GoodSamaritan on Thu, 01/17/2013 - 19:04
Ben Bernanke and the rest of the US Federal Reserve bet the farm that they could engage in countless monetary interventions, keep interest rates at zero, and print over $2 trillion in new money without damaging the US’s credibility.
They were wrong. Indeed, Germany just fired a major warning shot to the US Federal Reserve.
On Monday, Germany announced that it will be moving a significant portion of its Gold reserves out of storage with the New York Fed and moving them back to Germany.
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