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Thursday, January 17, 2013

Why Is Germany Removing Its Gold From The NY Fed?

Given the politicization of the Fed in the bailout era and the expansion of its powers, it is not unreasonable that the German people would prefer the Bundesbank’s custodianship to Ben Bernanke’s.

For instance, having very large gold reserves is a handy thing indeed if you should need to construct an entirely new currency from scratch, as Germany may very well be obliged to do should the euro disintegrate.

Previous post: Holy crap: Germany to pull its' gold bullion from the NY Fed

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