Yet another sign of the Apocalypse
If you are on, or are unwillingly exposed to, goldbug sites you’ve undoubtedly seen this article from Handelsblatt. Or more likely a link plus the translation of a paragraph or two, given it’s in German.
Simply stated, the Bundesbank has decided to bring the gold reserves that are in the US and France back to Germany. According to the goldbug sites this is a sign that the central banks do not trust each other and the collapse of the fiat economy (economies) is nigh. I need to point out that I’m including PIMCO’s Bill Gross among the goldbugs in this case.
There are three things that don’t get mentioned. First, this isn’t a final plan but is subject to change. Second, the plan as it exists says Bundesbank is leaving the gold reserves they have in the UK. Finally, it’s got a history.
See, there were some major political noisemakers that asked last year why the bulk of germany’s gold reserves were kept outside the nation. They were settled by an agreement that within the next year (this year) the Bundesbank would move the majority back within the nation’s borders. Lo and behold, they’re doing what they said.
Yep, it’s another nothingburger. The only way it can be interpreted as something is to ignore recent history.