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Germans to Withdraw Gold from the US

17 January 2013
 

Germany's Bundesbank is going to reclaim the gold reserves that stored in foreign banks, reported Handelsblatt, a leading German business paper.

Currently, Germany owns 3,396 tonnes of gold, but only less than one third remain in Bundesbank, while nearly half are in the United States, which raises a serious question: what is the point for German to have the gold reserve?

The call to "get our gold back!" has been heard for quite a while in Germany, and a petition has already gathered 13,000 signatures, including that from former BDI chief Hans-Olaf Henkel and the FDP deputies Frank Schaeffler.

According to Wealthwire.com, "all the Germans originally wanted was basic verification and inspection of their property." Yet this most legitimate request was turned down by the US Federal Reserve Bank, repeatedly and suspiciously, which was how Germans were forced into action.

If Germans' withdrawal of the gold deposit does go ahead as planned, it would be interesting to picture what the impact it might have on the US financial situation.

Worse, if Germans' withdrawal of their gold could not go ahead due to insufficient amount of gold in the US Reserve Bank, it would then be very interesting to figure out what the effect it might have on the US economy.

And the worst, if other depositors decide to follow suit but only find there is no more gold in the reserve, it would certainly be most interesting to envisage what the consequence it might have for the United States as the sole super power of the world.

Mind you, there are 600 tons of gold from China, saved through 30 years of hard work plus hard living that Chinese people contributed and endued under the courageous leadership of Chairman Mao-Premier Zhou Enlai, that were sent to the US by Deng Xiaoping as part of the package deal he sealed with the Washington.

Here is what a Chinese Netizen said about Deng Xiaoping's stone groping theory and China's gold treasure that might be stored in or stolen by the US Federal Reserve Bank:

皇家8899: 摸着石头过河,把600吨黄金摸到了美国,把3万亿美元摸成了白条,把钓鱼岛摸成了日本的,把国家摸成内外交困,把十万国企摸成了私有财产,把3000万工人摸下岗了,把房价摸到了天上,把人民摸到了旧社会的火坑里,30年了还没摸够,拿民族和国家利益当试验品,拿党国的生死存亡当儿戏,摸富了谁,摸穷了谁?

 
 
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