Germany pulls home gold from London and New York

Thomas Lifson
As progressives openly advocate the coining of a pretend trillion dollar platinum disc and the Fed continues to balloon the world's stock of dollars, Germany is bring home a good part of its gold bullion currently held in the Federal Reserve Bank of New York, and all of its gold held at the Bank of England in London. It's a sign that the Fall of the Dollar as the World's reserve currency is officially underway. No doubt we will be reassured that there is nothing to worry about here, but it is a clear sign that gold is going to be playing a larger role as a store of value for nations as well as individuals. Ambrose Evans-Pritchard of the UK Telegraph writes: Germany's Bundesbank is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, pulling a chunk of its holdings from New York and all its bullion from Paris. The move marks an extraodinary breakdown in trust between leading central banks and has set off ferment among gold enthusiasts,...(Read Full Post)

COMMENTS ON AMERICANTHINKER