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  • Bundesbank to commence repatriating gold from New York Fed

    From zerohedge.com

    In what could be a watershed moment for the price, provenance, and future of physical gold, not to mention the "stability" of the entire monetary regime based on rock solid, undisputed "faith and credit" in paper money, German Handelsblatt reports in an exclusive that the long suffering German gold, all official 3,396 tons of it, is about to be moved. Specifically, it is about to be partially moved out of the New York Fed, where the majority, or 45% of it is currently stored, as well as the entirety of the 11% of German gold held with the Banque de France, and repatriated back home to Buba in Frankfurt, where ... (full story)

Risk off mofos
Just under (depending upon spot price) $180b usd of gold being moved. I am with you Pipocrates, Buba (Deutchlanders) want to protect their paper...Or more accurately, want Gold, just in case, the whole Fiat thing does not work out.
Can I get a "thumbs up" button for this???

Quoting Pipocrates
Risk off mofos
Calm down! Let's see if its THERE first!
whats mean? gold price up or down?
Could this decision have anything to do with a possibility of EURO breakup?
I found it useful and profitable to locate the daily pivot line two hours before
European session begins, and then no matter what instrument or where its
current price is, it will ultimately touch the pivot line!
These, moves are guaranteed and happen over and over again, and yield
secure tens of pips!
This is how I do trade this volatile market! Two to three hours per day!
Happy trading everyone!
we found it useful and profitable to locate the daily pivot line two hours before
European session begins, and then no matter what instrument or where its
current price is, it will ultimately touch the pivot line!
These, moves are guaranteed and happen over and over again, and yield
secure tens of pips!
This is how we do trade this volatile market! Two to three hours per day!
Happy trading everyone!
@ Abhimanyu- no the Euro is not going to break up.

I think the Germans want to repatriate their gold from the US Fed because the US is in so much debt that they do not trust the americans to have not already spent their gold covering their own debt!
Quoting mitch77
@ Abhimanyu- no the Euro is not going to break up.

I think the Germans want to repatriate their gold from the US Fed because the US is in so much debt that they do not trust the americans to have not already spent their gold covering their own debt!
US Fed does not need to sell any gold to cover US debt. They are printing US dollar bills, as many as need. As of now, entire world accepts US bills in place of Gold. Educate me and tell me any country where US bill is not welcome.

Germans really want to repatriate Gold from France and UK. It would not look good if they left their gold in US alone.
Agree...no break up on the Euro. The US just needs to keep a fresh supply of ink on hand to keep printing.
Quoting Abhimanyu
US Fed does not need to sell any gold to cover US debt. They are printing US dollar bills, as many as need. As of now, entire world accepts US bills in place of Gold. Educate me and tell me any country where US bill is not welcome.

Germans really want to repatriate Gold from France and UK. It would not look good if they left their gold in US alone.
...and also, the debt ceiling concerns will be a greater risk off driver over the next month, or so...Cheers
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  • Posted: Jan 14, 2013 9:55pm
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     Newsstand
    Category: Entertainment News
    Comments: 12  /  Views: 3,404