I am typically hesitant to highlight foreign articles that have been translated by others from languages I can’t comprehend. That said, Koos Jansen of In Gold We Trust, is someone who does great work and so I am running with his latest blog post on German gold repatriation, or a lack thereof.
According to Peter Boehringer, Founder German Precious Metal Society, it appears that the German Bundesbank is backing away from a specific repatriation schedule for the nation’s gold. He sources this claim from a recent article written in the Handelsblatt, titled ”Silence is Golden.” So in other words, the Federal Reserve told them to get lost.
Here are excerpts from Koos’ translation of Peter’s piece:
Due to new developments, the initiators of the Repatriate Our Gold action today publish a small update. The print version of the German Handelsblatt today (02.06.2014) published a substantial three page feature exclusively on the German Gold Reserves, widely known to be stored by the German Bundesbank, the Fed, the Banque de France, and the Bank of England. Under the ambiguous title ”Silence is Golden,” no less than four Handelsblatt editors along with Norbert Häring, a senior and competent voice in matters of Gold vs Money, delivered a piece that is in parts pretty critical against the Bundesbank.