Germany Wants Their Gold Back
The significance of this can not be over-stated.Â This is a breakdown of trust between Germany and those who have held their sovereign gold reserves for the past 60+ years. Requests like this do not come often nor are they made lightly.Â There are serious problems lurking just out of sight in the global financial system that refuse to be tackled head on by the central banks, the governments or their captured media outlets.
While I have no doubt that Germany will get back what gold they ask for I am much more concerned about the day when someone else does this and finds out that there is nothing left but gold painted tungsten bars and a whole lot of paper with CUSIP numbers on them.Â That’s the game everyone has been playing for the past 10+ years on the COMEX as well as through the BIS.
China is openly disdainful of the U.S. Dollar at this point as are a number of other emerging markets countries like Russia, Turkey and south Africa.Â Central bank buying of gold continues to occur and the Fed is trapped because they cannot buy gold to shore up the Dollar without creating a panic.Â This move by the Bundesbank may be the first shot fired in the latest skirmish in the Currency Wars.Â I am slowly becoming convinced of the Euro-zone, knowing where their energy bread is buttered, becoming a monetary ally of Russia and China.Â Eventually the Dollar has to be hung out to dry to create a new world currency, which is the end-game play here.
Currency Articles - Oct 23, 2015 9:50 - 0 Comments
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