{"id":22840,"date":"2017-02-19T19:09:33","date_gmt":"2017-02-20T00:09:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22840"},"modified":"2017-02-19T19:09:33","modified_gmt":"2017-02-20T00:09:33","slug":"germans-yes-gold-is-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22840","title":{"rendered":"Germans: ‘Yes, Gold IS Money’"},"content":{"rendered":"

Germans: ‘Yes, Gold IS Money’<\/a><\/h3>\n
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Whereas a few years ago countries repatriating their gold seemed to be \u2018the hype of the month\u2019, once the dust started to settle, we didn\u2019t hear much about gold repatriations anymore.<\/div>\n
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At least, until last week, when Germany announced it has been able to accelerate the gold repatriations. Indeed, the country has now\u00a0repatriated all the gold<\/a>\u00a0it wanted to get back from New York and now has to bring just\u00a091 additional tonnes<\/a>\u00a0\u2018back home\u2019 from Paris.<\/p>\n

\"Gold<\/a><\/p>\n

Source: Bundesbank.de<\/p>\n

Once those final 91 tonnes will be back in\u00a0 Frankfurt, Germany will cut all ties with the custodian in Paris and its gold will remain in the\u00a0Frankfurt, London and New York<\/a>\u00a0vaults, and approximately 50% of the entire inventory of the country will be held inside the country.<\/p>\n

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What\u2019s really interesting is how hard Germany wanted to emphasize it has received \u2018real\u2019 gold and it looks like the Bundesbank wanted to nip some comments in the bud. In fact, the German Central Bank has now promised to release a list of gold bars on Thursday to confirm which bars have been \u2018sent home\u2019 by the New York Fed, where the US-based bars were held.<\/p>\n

You\u2019d almost start to think the Bundesbank is trying \u2018too hard\u2019 to convince the population it really received the yellow metal from New York. If this would indeed be a normal transaction (after all, it should be. \u2018You have our gold, please give it back to us!\u2019), why would the Bundesbank be so dramatic about receiving it. The president effectively showcased bars of gold, and showed pictures of the German vault in New York, as you can see on the next image.<\/p>\n

\"Gold<\/a><\/p>\n

Source: Reuters<\/div>\n

You\u2019d almost start to think they were surprised to be effectively able to get the gold back! And you\u2019d almost start to think gold is valuable, contrary to the\u00a0\u2018gold isn\u2019t money\u2019<\/a>\u00a0rhetoric after the global financial crisis.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Germans: ‘Yes, Gold IS Money’ Whereas a few years ago countries repatriating their gold seemed to be \u2018the hype of the month\u2019, once the dust started to settle, we didn\u2019t hear much about gold repatriations anymore. At least, until last week, when Germany announced it has been able to accelerate the gold repatriations. Indeed, the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[359,374,536,4318],"class_list":["post-22840","post","type-post","status-publish","format-standard","hentry","category-economics","tag-germany","tag-gold","tag-money","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22840"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22840\/revisions"}],"predecessor-version":[{"id":22841,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22840\/revisions\/22841"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}