Countries Race to Repatriate Gold, Reveals Concern Over Impending Financial Crisis

Thursday, January 22, 2015
By Paul Martin

By: Jeff D. Opdyke
GoldSeek.com
Thursday, 22 January 2015

The great gold repatriation has begun…

Germany’s Bundesbank announced that the country repatriated 85 tons of gold from New York in 2014, far surpassing its previous estimates of 30 to 50 tons — and laying to waste a Bloomberg article you might have seen last summer insisting that the Germans were happy to keep their gold in American vaults. Turns out, not so much happiness. You might really label it: concern about keeping their gold in America.

Including the gold repatriated from Paris, Germany brought home 120 tons last year. And the Netherlands, meanwhile, removed 122.5 tons of gold — about one-fifth of their total gold stored overseas — from New York, bringing it back to Amsterdam.

So the message I’ve been writing about for a long time is now getting clearer: Governments simply do not trust the global, fiat monetary system any longer. Nor should you.

Germany is just the latest in a collection of governments that no longer want their gold held in U.S. and U.K. vaults, the resting places for much of the world’s sovereign gold since after World War II. Last year I wrote about how Austria suddenly decided that the British central bank in London maybe wasn’t the best place to keep their gold.

It doesn’t end there. France, Belgium, Austria, Ecuador, Finland, Switzerland, Venezuela, Romania and Poland: They’re all either talking about repatriating national gold or they’ve already done so. Some are clearly countries run by leaders with a populist agenda — to wit, Venezuela and Ecuador. Others are run by sober governments making sober decisions about national wealth in a time of global economic worry.

These countries want their gold back because they’ve lost trust in the global banking system that they themselves are the very heart of. They’re the wizards behind the fiat-currency curtain … and even they are scared!

The Rest…HERE

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