Assiduous Wagnerians assume the Hoard of the Nibelungen somewhere at the bottom of the Rhine River, where it is forever lost. However, the Manhattan gold resurfaces from time to time, although so far only in the press. An article published in Der Spiegel this Monday drew my attention again to a subject that, in the meantime, is loaded with conspiracy theories.
In 2013 the Bundesbank repatriated 32 of 181 tons of gold from France but only 5 of 1531 tons from the States. The reasons given by the BuBa for the sloppy repatriation over the Atlantic were flimsy: Transports from Paris are more straightforward, and therefore we were able to start up quickly. On the other side, the bullion stored in the basement of the Fed in New York does not possess the elongated shape with beveled edges of the "London Good Delivery" standard but has a previously common form. They will need to be remelted. And the capacity of smelters is just limited. This argument is the long-awaited grist to the mills of those conspiracy theorists who maintain there is no longer any gold in US vaults.
Thus Americans and not Germans got excited about an article titled: The Fed only gave Germany back 5 tonnes of gold in over a year.
Here are some immediate comments on the article:
- Central banks don't trust each other?
- GIVE GERMANY BACK THEIR F'ING GOLD!!!!!
- To H with that. Consider it as partial payment for WWI and WWII.
- Can you help understand the issue since the Fed puts no
value in gold?
- Germany does not deserve it, regardless of whether it is worth anything.
- Dude, there is no gold in Ft. Knox, and it hasn't been for years.
It is all in banks, and not much of it is left. If you can't show it and
won't show it; it is probably not there, don't you think?
- Very likely, there is none; otherwise, we could have sent Knox gold to Germany
instead of the stolen German gold. When this truth comes out,
it will rank with the Nazi's looting of Europe and more.
Yet this is a minor thing compared to the changing tide: With the Cold War presently reloading, should we not better leave our gold in the States?
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