Germany Gives up on Getting Back its Gold

Several months after it was revealed that Germany was able to only recover a miserable 5 tons of its gold in all of 2013 (under 10% of the 84 tons it was scheduled to repatriate), Germany appears to have given up entirely in its attempt to recover gold which simply is not there, and as Michael Krieger reports, citing Bloomberg, has decided to keep “it” (by “it” we don’t mean the gold since that clearly has not been at the Fed for decades, but merely the paper promises of ownership: for more see China’s gold rehypothecation scandal and how the unwind works) at the NY Fed after all. That is to say, in the “safe hands” of former Goldmanite Bill Dudley.

Via Mike Krieger’s Liberty Blitzkrieg blog,

Just last week, I published a post titled, Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany, which subsequently went viral. Interestingly, only a few days later we find out that Germany’s very own criminal political class has decided it will continue to store the nation’s gold in New York rather than bring it back home as had been the intention. It’s quite ironic that just as protests against the fascist Federal Reserve are spreading throughout the land, the political class officially decides to keep Germany’s treasure across the Atlantic, in care of none other than The Fed itself.

To be fair, this merely seems like a way for Angela Merkel and the rest of her German cronies to save face. After all, it was very clear that the Federal Reserve had already told them “no” when they asked for the gold back in the first place. Why else would it take almost a decade to transport the gold from the U.S. to Germany, which was the latest repatriation schedule. …

http://www.zerohedge.com/news/2014-06-23/germany-gives-trying-repatriate-its-gold-will-leave-it-feds-safe-hands

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