Where is the German gold bullion reserves?

March 9, 2012 by · Leave a Comment
Filed under: Global News 

Bombshell of a story.  Looks like the German Central Bank (Bundesbank) has not audited their gold reserve since 2007, which I will add is when the financial crisis began.   The article is a little hard to follow because I had to rely on Google Translate to bring it from German to English.   The element that stood out in this article is the fact is that the Federal Reserve Bank of New York does not allow any photos or tours of the facility, but they do send you a “picture” of your gold.  That picture only goes the Central Bank.

Being the huge lapse in auditing, a financial meltdown, I can understand why some of the people would be upset.  Psychologically is must mean a lot to the German people to know that their reserve wealth is safe and accounted for.   Especially because they have basically been underwriting this whole EU bailout.   I think we will see the rectified in the next few weeks.  Most likely just an oversight, hopefully.

Text from Google Translate Link:

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