Germany’s Post World War II Gold Reserves

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Frenzy in the Gold Market: The Repatriation of Germany’s Post World War II Gold Reserves

By Prof Michel Chossudovsky

The decision of Germany’s Bundesbank to repatriate part of its Gold Reserves held at the New York Federal Reserve bank has triggered a frenzy in the gold market.

German news sources suggest that a large portion of the German gold stored in the vaults of the New York Fed and the Banque de France is to be moved back to Germany.

According to analysts, this move could potentially “trigger a chain reaction, prompting other countries to start repatriating the gold stored in London, New York or Paris…. “

If gold repatriation becomes a worldwide trend, it will be obvious that both the US and UK have lost their credibility as gold custodians. For gold markets worldwide, this move may mark a switch from “financial gold” to “physical gold”, but the process is definitely in its early stages.

The decision to repatriate the German gold is a big victory for a part of the German press that first forced the Bundesbank to admit that 69% of its gold is stored outside Germany. Almost certainly both the German press and at least several German lawmakers will demand a verification procedure for the gold bars returned from New York, just to make sure that Germany doesn’t receive gold-plated tungsten instead of gold. It seems that German decision makers no longer trust their American partners. (Voice of Russia, January 15, 2013, emphasis added)

http://www.globalresearch.ca/frenzy-in-the-gold-market-the-repatriation-of-germanys-post-world-war-ii-gold-reserves/5319287