Germany's central bank said on Thursday it sped up the process of bringing its gold home from foreign vaults in 2016, moving more than 200 tonnes from New York and Paris.
The Bundesbank relocated some 216 tonnes of the precious metal to its headquarters in Frankfurt last year, including 111 tonnes from New York and 105 from Paris.
That amount was a slight increase over the 2015 total of 210 tonnes, while 2014 saw 120 tonnes moved and 2013 just 37 tonnes.
During the Cold War, the Bundesbank kept much of its reserves outside the country for fear of Soviet invasion.
Scares that there might be less gold in the foreign vaults, that the ingots stored abroad might be tampered with, or that Germany might not be able to retrieve its gold have long been a feature of politics.
But the Bundesbank finally launched a relocation programme after authorities demanded more transparency about how much gold it held and where during Europe's debt crisis.
Its plan calls for the majority of the stock to be held in Germany by 2020, including all of the bank's remaining gold in Paris.
By December 31st, 1,619 tonnes of the Bundesbank's gold holdings were in Frankfurt - or 47.9 percent of the total - compared with 1,236 tonnes in New York, 432 tonnes in London and 91 tonnes in Paris.
With the progress made in 2016, all of the 300 tonnes needed from New York under the plan have now been moved, said Bundesbank board member Carl-Ludwig Thiele.
https://www.thelocal.de/20170209/germany-moves-100-tonnes-of-its-gold-from-new-york-to-frankfurt
>9gag
sage
oyy vey
>>109794
I don't get what is happening. Why and where are they moving the gold back to europe?
>>111697
What the.. why do you need to know where in Europe? You got a plan or something, Gruber?
It says in the article, it's all being shipped to Germany for safe keeping. The "accountability" for EU debt payments issue is just a smoke screen. It's about the strategic importance of keeping ones wealth close by & out of harm. Good move as I can understand a confidence issue keeping bullion in the USA right now, even though the transfers started a couple of years ago.
https://www.youtube.com/watch?v=7cwJc4fnH3g
>>112319
Now I have a machine gun
Ho ho ho
Is this the gold that German inspectors weren't allowed to see?
I'm sure it will all be brought back *rubs hands*
>>112379
>>Is this the gold that German inspectors weren't allowed to see?
No, the German inspectors who weren't allowed to see the gold were members of minority parties who alltogether didn't make up 10% of the German voters. Irrelevant paperpushers trying to stir up skandals to get that 1 extra percent to make them Great Again.