Wednesday, 25 December 2013

repatriation or silver and gold

 Germany Central Bank has announced that it is their intention to return some thirty-seven tonnes—the metric ton, which is always an important distinction, like among pounds (#, £), poids and Pfunde (℔), of gold bars stored in facilities in New York and Paris. When approached, authorities at the Bundesbank would not go so far to express any misgivings in the faith—in terms of security or integrity, for the host countries storing the diversified treasury, and possibly the conditions that prompted holding specie elsewhere simply do not exist any longer.  No word on how this mission is to be executed either and whether there will be specially-appointed gold-bearers.
Still it seems hard to accept otherwise—that there is not some element of distrust or, on the other hand, wanting to divest oneself of liability on the part of the holding-groups, in action, until one considers that this move, massive as it is, and representing over one billion euro of bullion is still only about one-tenth of one percent of Germany's foreign gold reserves, squirreled away in hundreds of other vaults—presenting an actuarial and logistics nightmare, with projections to store half of the horde in-country within the next six years.