Aletho News

ΑΛΗΘΩΣ

German Finance Ministry unaware that getting gold back from US is ‘becoming a hot topic’

RT | November 29, 2018

For decades, the Bundesbank, Germany’s central bank and custodian of the country’s gold, has been storing over 1,200 tons of the precious metal worth nearly €50 billion in the New York vaults of the US Federal Reserve.

After a public outcry in Germany in 2013, authorities started the repatriation program, aimed at returning the country’s gold reserves, which have been stored outside of the country since the Cold War. Berlin intended to get at least half of the country’s gold from the US and France by 2020. The government had initially planned to complete the program within a five-year period, but the US Federal Reserve renegotiated the process to a seven-year timeline.

The country reportedly managed to ship only five tons of its gold in 2013 due to logistical difficulties. The following year, Germany repatriated 120 tons of the precious metal – 35 tons from Paris and 85 tons from New York. Some 110.5 tons were brought back from Paris and 99.5 tons from New York in 2015. Two years ago, the country repatriated total of 200 tons.

So far, the Fed has denied the German financial regulator access to the vast deposits that are literally being held hostage overseas. Thus, the Bundesbank has had no opportunity to audit the reserves that belong to Germany.

Various theories circulated about Germany’s foreign gold reserves, with some experts questioning whether it is still there or if it has been used by foreign central banks. However, the German government doesn’t seem very worried about the issue.

“I haven’t heard that it is now becoming a hot topic, but in case it is, you should contact the Bundesbank. They would give you information about the current state of affairs and plans on this issue,” German Finance Ministry spokesman Dennis Kolberg told RT Deutsch during the weekly news conference.

“The Bundesbank has already spoken on this issue, so I can only refer to them,” the official said, when asked if the government has any plans to address the matter of the country’s gold being kept abroad.

November 29, 2018 - Posted by | Deception, Timeless or most popular | ,

3 Comments »

  1. The trade in world Gold is about 100 times the amount of actual gold in the World. When you ‘BUY’ gold, you actually receive a “promise to deliver” the Gold(which is held for safe keeping) It’s a “Derivative”. And, like the World banking system, the “people who control the market” own the market, and use derivatives to multiply their income.
    If everyone who ‘owned’ Gold decided to take delivery tomorrow, the holders of the Gold would be completely unable to deliver……Your “promise to deliver” is a bit like a Bet on a Horse……

    Comment by Brian Harry, Australia | November 29, 2018 | Reply

  2. All this talk makes me sick. Men, women, trans, GBTYABC, German, makes me sick. Whatever any human says, makes me sick. False? You make me sick.

    Disgusting. This is all so disgusting. Whores begging for shekels. That’s all. So disgusting.

    Comment by tsisageya | November 29, 2018 | Reply

  3. DISGUSTING!

    Comment by tsisageya | November 29, 2018 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.