Countries no longer trust the Federal Reserve, they have begun to demand that their gold that is stored in the Fed’s vaults in NY be repatriated. Venezuela repatriated 160 tons recently from NY and the Bank of England. Switzerland, and the Netherlands are also demanding their gold back.
Germany went to inspect their gold that the Feds hold in NY. The Feds refused to let the Germans see it, citing security issues. The security of the Feds relies on people not wanting their gold back; people suspect the gold has been looted by the Feds and that it is not there anymore. I imagine Germany will now make a formal request for all of its 3000+ tons back. Very sensible. Stuart Wilde
© 2012 — Stuart Wilde.
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