Comment: Bundesbank Official Statement On Gold Repatriation

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Bundesbank Official Statement On Gold Repatriation

They are trying to keep a lid on things. In other words, CONFIDENCE IS IN THE TOILET. Question: How will they demonstrate that all of this is not a show?...That the gold is real? Remember the queen being paraded through a gold-filled vault a few months ago? That was also a real confidence builder [Not].

"By 2020, the Bundesbank intends to store half of Germany’s gold reserves in its own vaults in Germany. The other half will remain in storage at its partner central banks in New York and London. With this new storage plan, the Bundesbank is focusing on the two primary functions of the gold reserves: to build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold trading centres abroad within a short space of time. The withdrawal of the reserves from the storage location in Paris reflects the change in the framework conditions since the introduction of the euro. Given that France, like Germany, also has the euro as its national currency, the Bundesbank is no longer dependent on Paris as a financial centre in which to exchange gold for an international reserve currency should the need arise. "