Silver Dollar Values Prices Skyrocketing, Germany Moving Its 3,396 Tonnes Of Gold Home - Gold Price

Jan. 20, 2013 - PRLog -- In what has becoming an ongoing series of articles concerning the expanding rift in between the German central bank -- the Deutsche Bundesbank -- and also the Federal Reserve, it seems the scenario has escalated as soon as once more.
Following the Fed denied repeated requests over years to inspect as well as verify the German-owned gold in the Fed's Vaults, German politicians and officials became increasingly irate. How high will silver go? Learn more >>  http://www.kitco-silver.jobshq.us/

It ultimately placed Bundesbank board member Carl-Ludwig Thiele in front of a committee that tore into him concerning a scathing report from German auditors concerning the lack of access and transparency. Handelsblatt, a top German business paper, is now reporting that the Bundesbank is now about to reshuffle all of its gold reserves in overseas central banks.

Presently, Germany owns 3,396 tonnes of gold. 45% of it's using the Fed in New York. 13% is in London, 11% is in France and also the remaining 31% is in the Bundesbank's vaults in Frankfurt. The strategy would be to instantly eliminate 300 tonnes of gold in the Fed's New York vaults and totally eliminate their gold from France's central bank. By 2020, half of their gold will probably be in Frankfurt.

So far, the 1,536 tonnes of gold the Fed holds for Germany, worth over $80 billion at spot prices, has only been backed up by individual assurances. Now the Fed will have to prove its demands for blind faith had been a minimum of partially justified as 768 tonnes are removed over the next a number of years.

All the Germans originally wanted was fundamental verification and inspection of their property. Maybe when the Fed was more accommodating, there by no means would have been pressure around the Bundesbank to clarify why it permitted the scenario to persist with the Fed to help keep their gold off-limits. Rare Coins, Silver Coins, Gold Coins, Learn more >> http://www.kitco-silver.jobshq.us/GOLD-COINS/

Also the official reasoning for your move, that diversified gold storage places is outdated, is very accurate in a post-Cold War era. Nevertheless, moving such beneficial and heavy metals across the Atlantic is no simple or inexpensive feat, particularly following all of the safety and insurance is added up.

In an era exactly where gold is rehypothecated to cover seemingly endless loans and IOU's are handed out like candy to elite banks, this really is a large deal.

The last thing the Fed -- or the whole international economy -- needs is really a big number of central banks reclaiming their gold reserves. Germany is second only to the U.S. in total central bank gold reserves. If other depositors adhere to Germany's move, how far this could go or how bad it'll get when the Fed can't rapidly produce the gold it has “loaned” in to the marketplace is anyone's guess. My advice would be to buy gold before the missing gold drives up the gold price massively. How high will silver go? Learn more >>  http://kitco-silver.jobshq.us/