German Gold will stay in New York
Posted by LionelHutz 9 years, 10 months ago to Economics
"The Americans are taking good care of our gold"
So, if you went to your bank in 2012 and asked for a 100% withdrawal and they said they'd get right on that, but it would take seven years, and after two years you had 5% of your money out...what would YOU say? Germany just said "You're doing SUCH a good job, NEVER MIND about the rest!"
So, if you went to your bank in 2012 and asked for a 100% withdrawal and they said they'd get right on that, but it would take seven years, and after two years you had 5% of your money out...what would YOU say? Germany just said "You're doing SUCH a good job, NEVER MIND about the rest!"
There is no gold left in Ft. Knox. What gold the US Treasury had has been used to mint coins and is gone. They only mint now what they can purchase on the open market (one reason that these prices have been kept artificially low).
Soon, the whole house of cards is going to collapse. Hope you have yours already buried in your yard (not in a safety deposit box, and not purchased in any significant quantity).
Even if you can trust the figures released by the Treasury, the Red Book shows that US gold mintage is generally down and significantly so, though American appetites for gold coins seem unabated. As it is, the Treasury has a "floor of fear" below which they dare not go: if Americans are turned away from buying US Government gold coins because of shortages, that will trigger something far worse than grousing from the Germans.