Germans Reclaim Their Gold From the Fed!

All the Germans originally wanted was basic verification and inspection of their property. Perhaps if the Fed was more accommodating, there never would have been pressure on the Bundesbank to explain why it allowed the situation to persist as Fed to keep their gold off-limits.

Even the official reasoning for the move, that diversified gold storage locations is outdated, is very true in a post-Cold War era. However, moving such valuable and heavy metals across the Atlantic is no easy or cheap feat, especially after all the security and insurance is added up.

In an era where gold is re-hypothecated to cover seemingly endless loans and IOU’s are handed out like candy to prefered elite banks, this is a big deal.

via Germans Reclaim Their Gold From the Fed!.

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