by Pater Tenebrarum, Acting-Man.com:
Germany has announced that it plans to take home all 374 tonnes of its gold stored at the Banque de France, and 300 out of 1,500 tonnes held at the Federal Reserve Bank of New York.
Bill Gross of PIMCO tweeted:
“Report claims Germany moving gold from NY/Paris back to Frankfurt. Central banks don’t trust each other?”
In this article, I consider some popular reactions to the news and then present my own analysis and some ideas about what I think could happen.
Declining trust is a global megatrend. It is impossible to ignore. I proposedtrying to measure it as one indicator for financial Armageddon in my dissertation.