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
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
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: