In the same category

Germany brings its gold stash home sooner than planned

IMG Auteur
Published : February 13th, 2017
163 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
[titre article pour referencement]
0
Send
0
comment
Our Newsletter...
Category : Central Banks

Reuters/Andreas Framke/2-9-2017

“But with Europe stumbling from crisis to crisis, the German public has grown uneasy about keeping the gold abroad. Some even argue the world’s second biggest bullion reserve may be needed to back a new deutschmark, should the euro zone break up.“

MK note:   Germany has completed its transfer from the New York Fed and 91 tonnes still need to be transferred to Frankfurt from the Bank of France.  Germany will now leave 1236 tonnes at the New York Fed and another 432 tonnes in London.  The remainder of its 3378 tonne national holding will be stored in Frankfurt.  The repatriation transfers to Frankfurt were completed three years ahead of schedule.  It is unlikely that Germany would back a new Deutschmark with gold directly, but having an asset set aside that is detached from erratic national currencies in this day and age is a wise move for the prudent nation state – just as it is for prudent the private investor.

 

Source : www.usagold.com
Data and Statistics for these countries : France | Georgia | Germany | All
Gold and Silver Prices for these countries : France | Georgia | Germany | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Michael J. Kosares is the founder of USAGOLD-Centennial Precious Metals, Inc., the author of "The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold", and numerous magazine and internet articles and essays. He is also writes a popular weekly Client Letter on the gold market. Mr. Kosares is frequently interviewed in the financial press and is well-known for his on-going commentary on the gold market and its economic, political and financial underpinnings. He has over 30 years experience in the gold business. USAGOLD-Centennial Precious Metals is one of the oldest and most prestigious gold firms serving private investors in the United States, Europe, Canada and Australia.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Nice Rally, but Can Gold Sustain It?
17:10The Recusant
Gold can sustain higher values if the fears are maintained. As long as fear of war, economic problems, or political upheavals are present, gold pri...
The Demise Of The Dollar As We Know It: “A Break Is Coming… On A Wo...
16:59The Recusant
We must return to a precious metals based monetary standard. China's move to use a gold-backed Yuan for international oil trade is a move in that d...
Governments Begin Testing Cryptocurrencies As Cash Use Plummets
16:42The Recusant
"When a government takes over a people’s economic life it becomes absolute, and when it has become absolute it destroys the arts, the minds, the li...
Top Ten Reasons I Buy Gold Silver [#7] - These Assets Come With a ...
21 Sepvictoriashores1
HI Jeff I have read your articles with a lot of interest in your feelings with the future of Gold and Silver. I'm 75 years of age and have ...
What Is the Correct Amount of Money?
20 Sepgfs5431
If money is the heart of the economy, then the economies of the world are running with diseased hearts. Keynesians and other monetary intervention...
Pushback
20 SepGypsy
James, you're getting more difficult to read. As a Deplorable, I realize my under-education leaves me at a disadvantage when faced against the Mer...
Pushback
18 Sepdennyc3
If a university professor has been on the job for more than five years without venturing out into the world there's usually nothing to learn here. ...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
18 SepDRGEORGE
The world & the US $ have been on the brink for 10 years (or more). In 2008 it nearly happened but giving the 1% a stack of money saved the day. It...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS