Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Put the German Gold Conspiracy To Bed Folks

IMG Auteur
Published : January 23rd, 2013
661 words - Reading time : 1 - 2 minutes
( 7 votes, 1.1/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...

 

 

 

 

I just came across this article (I wish I saw it the day it came out) but a few days late is better than never. While the conspiracy theorists are still having fun making a lot out of nothing regarding the repatriation of “some” of German’s gold, I prefer to let the facts speak for themselves as I wrote about the other day. In this piece, we hear from Carsten Fritsch of Commerzbank and again reference is made to Carl-Ludwig Thiele’s comments that I referred to in my earlier piece and which, not surprisingly, the gold conspiracy theorists out there failed (conveniently) to even make mention of. I will focus on the key points. You can read the full article HERE. [Emphasis Mine]

Dispelling conspiracy theories

During the height of the Cold War in the 1950s and 1960s, West Germany feared an invasion by the Soviet Union. In order to ensure that its gold would not fall into enemy hands, the West German government divided its reserves among the Allied powers. Some 374 tons of gold were deposited in Paris, 450 tons went to London, and 1,500 tons were sent to New York City.

There has been an ongoing discussion about how Germany's gold reserves should be stored, and whether or not they even exist at all. Fritsch said that the German Central Bank, “with its lack of transparency,” is partially responsible for the spread of these conspiracy theories. If the Central Bank had regularly done its own inventory of its gold reserves, then it would have been able to take the wind out of the sails of the conspiracy theorist, according to Fritsch.

“In this way, the partial repatriation of Germany's gold reserves will help cool down the debate,” he said.

Gold reserves safe and sound

Carl-Ludwig Thiele, who sits on the German Central Bank's board of directors, said that he was able to personally access Germany's gold reserves deposited abroad. He tried to assure the German public that the gold reserves are safe and accounted for.

“Everywhere we were welcomed with open arms,” Thiele told a press conference in Frankfurt. “We were shown the inventory lists and inspected individual gold bars, which were then crosschecked with those lists.”

Now that the Cold War is over, Germany no longer has to store its gold reserves abroad to ensure their safety in the event of a Soviet invasion. Nonetheless, depositing reserves abroad still serves two important purposes, according to Thiele.B

he said that it remains important to keep some of Germany's gold reserves in countries that have strong foreign currencies like the pound and the dollar. That's why deposits will remain in London and New York City, although the Central Bank does plan to move 300 tons of gold from the US back to Germany.

And while on the subject of gold…I remain cognizant of the fact that the conspiracy groups out there were all pointing to central bank easing as the precursor to a rocket-shot for the price of gold. 3 or some will argue 5 rounds of QE for the United States, printing by the European Central Bank, currency devaluation in an escalating currency war and massive easing announced by Japan Sunday night and here we are with gold still sitting roughly $200.00 off its all-time highs and silver remains significantly off its all-time highs. But wait … it’s not time yet. As per the latest news making the rounds of the usual club, the moon-shot in the price of metals is right around the corner.

Buy and hold gold and silver as investments folks…I’m all for it and in fact I encourage and advocate that every portfolio should have some. But if the last 5 years of hearing the same nonsense from folks who stand to profit of rising gold and silver sales (most of the usual suspects have something to sell you) hasn’t shown you that they got it all wrong then don’t know what will.

 

 

Data and Statistics for these countries : Germany | Japan | All
Gold and Silver Prices for these countries : Germany | Japan | All
<< Previous article
Rate : Average note :1.1 (7 votes)
>> Next article
Comments closed
  All Favorites Best Rated  
If you listened to the "conspiracy theorists' five years ago to their SO CALLED "NONSENSE" you would have done quite well with GOLD in $AUD.

$881 to now $1685.

Thats a pretty good annualised return.
My question on this matter is why can't the Germans get their 300 tons in a matter of months ?
Latest comment posted for this article
If you listened to the "conspiracy theorists' five years ago to their SO CALLED "NONSENSE" you would have done quite well with GOLD in $AUD. $881 to now $1685. Thats a pretty good annualised return. My question on this matter is why can't the Germans  Read more
S W. - 1/23/2013 at 6:41 PM GMT
Top articles
Latest Comments
The Rediscovery of Men
07 Decaccording-1
and now bernie has a brand new house. i smelled that the fix was in when he said he was running against filthy hillery. then at the perfect moment...
The Rediscovery of Men
07 Decaccording
i suspect that georgie S and his goons will crash the coin and try to starve our guts and spirits with fears we havnt felt perhaps ever. it will be...
The Deepening Deep State
07 Decaccording
james this is a nice piece of writing. good to see you moving to the Right. its probably safer there for awhile at least.
Jack Kemp's Gold Standard Act Of...
05 Decsam_site
We were on a disastrous 40% Gold Standard from 1914 thru 1944 and this half-assed 40% standard enabled the globalists to create two world wars...
Dollar Reappraisal : Gold Vanish...
04 Decsam_site
Enjoyed the gold history lesson of 1965. Palyi's quote "where the Welfare State is on the march, the Police State is not far behind" is prophetic....
Indian ‘Gold Ban’ a Portent of M...
03 Decsam_site-1
You believe like Brandon Smith, that Trump was allowed to win or is a secret globalist puppet that will be "fingered as the scapegoat for this...
Lawrie Williams: Major gold pric...
02 Decian15171
Hmm. the first signs of the long talked about disconnect between paper and physical?
Trump Makes The US Stock Market ...
02 DecThe Recusant
I'm forever blowing bubbles, Pretty bubbles in the air, They fly so high, Nearly reach the sky, Then like my dreams They fade a...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS