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Federal Reserve Gold Stolen by the 1%?: Germany Can't Get Its 300 Tons of Gold Back — No One Wants To Admit The Gold is 'Missing' From Federal Reserve Bank Vaults

Photo from Wikimedia Commons.
Photo from Wikimedia Commons.
During the month of January last year, Germany requested that the 300 metric tons of gold allegedly stored at the Federal Reserve Bank of New York since World War II be returned.   Since then, only five percent (or five tons) of that gold has been returned to Germany. Recently, Germany announced that the Federal Reserve Bank of New York can hold on to other 295 tons of gold for the time being. Anyone else think there's something wrong with this picture?

By Andrew Moran
Federal Reserve, the Bank of England and the Banque de France. The Bundesbank owns nearly $200 billion worth of gold, but only a third of it is stored in Frankfurt.

A German delegation was sent to New York to audit the nation’s gold holdings because one hadn’t been performed in a few decades. The group confirmed that everything was fine and that it would be easier to just simply store its gold reserves outside of the country for emergency swaps.

A year later, it was reported that Germany has only been able to recover five tons of gold from the New York Fed. The Bundesbank explained the situation by noting it’s simpler to transport its gold holdings stored in Paris as opposed to repatriating the yellow metal overseas. Another reason was that the gold bullion in Paris maintains an elongated shape with beveled edges of the “London Good Delivery” standard.

Several months after this revelation, it is now being reported by Bloomberg News that Germany has officially given up trying to reclaim its gold in New York. Norbert Barthle, the budget spokesperson for Angela Merkel’s Christian Democratic bloc in parliament, said that the U.S. is doing a very good job looking after the country’s gold and there would be no need for any sort of mistrust.

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