Shocking Truth About The Missing U.S. & German Gold Hoards

The German gold repatriation situation has been fascinating from Day 1 and continues to be. I think the motives behind making that announcement have probably been overtaken by events. From the moment Hugo Chavez repatriated the Venezuelan gold, I said this is the start of a game of musical chairs that is going to end very, very badly....

I think the Germans felt as though they had to say something about repatriating their gold, and we’ve seen a bunch of other countries in much smaller amounts do this as well. I think the Bundesbank felt that with the focus the Germans have on monetary prudence, they felt they had to say something.

So they made the statement that they were going to get a portion of their gold back from the United States. But since that time their repatriation has been overrun by a series of events, especially the fact that the gold that is supposed to be on deposit in the United States just isn’t there. It’s not in the U.S. vaults because it’s gone.

Shocking Truth About The Missing U.S. & German Gold Hoards