European Nations Repatriate Gold Reserves From United States Vaults
© Fotolia/ Ded Pixto
15:39 28.11.2014(updated 22:19 28.11.2014)
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Netherlands has already moved 122 tons of gold holdings back home,
while Switzerland and France are considering the same move. Germany abandoned
the plan to repatriate its gold despite pressure from Eurosceptics.
© EAST NEWS/ BARTOSZ KRUPA
MOSCOW,
November 28 (Sputnik), Ekaterina Blinova — Growing concerns
over economic stagnation and unprecedented money printing have pushed
European nations into repatriating their gold and as well
as increasing their gold bullion national reserves.
"The
2008 financial crisis and its aftermath have revived interest in a
monetary policy instrument of a bygone era: gold. This trend is especially
pronounced in Europe, where central banks face public pressure to buy
more gold or bring back home what they hold in vaults overseas," the
Wall Street Journal reported.
According
to the media source, the Swiss National Bank "could be forced
to more than double its gold assets," while selling gold would
be restricted. The “Save Our Swiss Gold” campaign is preparing for a vote
on November 30, which could require the SNB to repatriate all
of its gold reserves from overseas vaults.
© AP PHOTO/ MARKUS SCHREIBER
The
Netherlands has already returned 122 tons of its gold holdings
from the US, with the Dutch Central Bank announcing that the decision
to repatriate the gold would obviously "have a positive effect
on public confidence." Remarkably, in 2012 the Dutch president
stated that he didn't consider repatriating gold due to the fact it was "absolutely
safe in Manhattan."
The
National Front led by Marine Le Pen is urging the French government
to return its gold from abroad. Le Pen wrote an open letter
to Christian Noyer, governor of the Bank of France, calling
for the repatriation of France's gold holdings and asking
for an independent organization to be allowed "to audit the
country's current holdings of 2,435 metric tons," Kitco News reports.
The National Front leader has also recommended the Bank of France increase
reserves by 20 percent and "never sell its gold reserves."
Germany's
plan to bring its $635 billion worth of gold bullion reserves back
was abandoned by the German authorities. "The Americans are
taking good care of our gold, we have no reasons for mistrust,”
Nobert Barthle, the German Parliament Budget spokesman said as quoted
by RT. However, this decision has met heavy criticism
from Eurosceptics, who insist that German overseas holdings should be
inspected annually, as the Bundesbank does with its reserves
in Frankfurt, Hans Olaf Henkel, German member of the European Parliament
stressed.
1 comment:
i wonder if the so called gold bars ARE NOT the same gold plated tungsten bars that was rumored a few yrs back given to another nation asking for it's gold back from ft knox, i think it was china that got the surprise when they melted a few pounds, for whatever reason.
wow if it is true, what a shame these international bankster do to the public and gov. money and savings.
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