from Gold News:
AS YOU’VE probably heard, the German central bank announced it will begin withdrawing part of its massive gold holdings from the United States as well as all its holdings from France, writes Jeff Clark, senior precious metals analyst at Casey Research.
By 2020, the Bundesbank says it wants half its gold reserves stored in its own vault in Germany.
Why would it want to physically move the metal from New York? It’s not as if US vaults are not secure, and since Germany already owns the gold, does it really matter where it sits?
You may recall that Hugo Chávez did the same thing in late 2011, repatriating much of his country’s gold reserves from London. However, this isn’t a third-world dictatorship; Germany is a major ally of the US. So what’s going on?
bullion vault lease its gold to the paper player, shouldn’t even waste time on their website
I don’t get the fear mongering… They are giving a date in 2020… If a collapse doesn’t occur by then it would be safe to say there is no problem.
I HAVE A HUNCH THAT GERMANY IS GETTING THEIR GOLD AS WE SPEAK NOW….THEY WILL NEVER WAIT 7 YEARS…NEVER…….IT’S JUST A DIVERSION FOR THE MARKET.
You have it right,7 years is for public consumption.They don’t want to start a stampede.The crash/panic will come like a thief in the night and it may be alot sooner than most think/believe.