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Germans Shaking About Their Foreign Gold Reserves

by Francis Tawiah, Modern Ghana:

 

The largest portion of Germany’s massive gold reserves are stored abroad, mainly in the Federal Reserve in the USA, New York. But their question is, are the bars really where they are supposed to be? A dispute has broken out over whether the German central bank needs to check on its gold, or can Germany trust its international partners.

Germany has gold reserves of 3,400 tons, which is the second largest reserves in the world after the United States. Much of that is in the safekeeping of central banks outside the country, mostly in the US Federal Reserve in New York. It’s clear that with such a valuable worth around €133 billion ($170 billion), the German government would want to keep a close eye on its whereabouts. A dispute has therefore broken out between different German institutions over how closely the reserves should be checked.

Read More @ modernghana.com

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One Response to “Germans Shaking About Their Foreign Gold Reserves”

  1. raptureimminent Reply May 22, 2012 at 1:15 am

    Reblogged this on The Rapture Is Imminent!.

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