Wednesday 16 January 2013

GERMANY PREPARES TO REPATRIATE ITS GOLD AGAIN!!!

As Germany Prepares To Repatriate Its Gold, We Hope They Have Learned From The “Monetary Sins Of The Past”

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.


zerohedge.com / by Tyler Durden / 01/15/2013 13:35 -0500
As initially reported here yesterday, in what is the biggest news of the week, and possibly the year, the Bundesbank has broken away from its “all is well” posturing exhibited as recently as three months ago, and in a dramatic reversal of its diplomatic position, has demanded repatriation of some of its NY Fed and all of its Paris-domiciled gold. We applaud Herr Wiedmann for this move, although we hope that the German people are allowed to witness, and verify, the arrival of the actual gold as opposed to simply empty crates. Of course, at the end of the day the actual delivery is irrelevant: what matters is this first shot across the bow of the current monetary system – one which juxtaposes sound money versus infinitely dilutable electronic fiat more than ever before – by a major conservative central bank, one in possession of the second largest official gold reserve, second only to the Fed itself. That said, we can only hope that the German request for gold repatriation is not met with the same enthusiastic response that France encountered when it too attempted to repatriate its gold held by London back in the 1930s, just before a whole lot of things in the global economy went horribly wrong…
Specifically, in 1965 The Economist interviewed Jacques Rueff, a French economist and advisor to the French Government. In the following exchange (caught on pages 84-85 of the pdf “Monetary Sins of the Past“, which are required reading to anyone who thinks what is going on now is in any way new or different), the Economist blames France for exerting pressure on London during the 1930s, through the withdrawal of sterling balances held at the Bank of England. We thank Martin Sibileau for the reminder about this key exchange.
What is disclosed is enlightening and entertaining, and may well serve as the basis for what the response Buba may encounter today.
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Thanks to BrotherJohnF.

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