Germany Says Its Gold Is Safe In US Hands, Doesn't Want It BackSubmitted by SteveMT on Mon, 06/23/2014 - 15:47
German Gold Stays in New York in Rebuff to Euro Doubters
By Birgit Jennen Jun 23, 2014 2:42 AM MT
Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after politics shifted in Chancellor Angela Merkel’s coalition, the government has concluded that stashing half its bullion abroad is prudent after all.
“The Americans are taking good care of our gold,” Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.”