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Europe Continued Gold Repatriation at Faster Rate in 2015

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Germany ramped up its gold repatriation project last year, joining other European nations bringing gold home. The trend underscores the importance of holding physical gold within easy access.

Germany’s Bundesbank transferred more than 210 tons of gold back into the country from vaults in Paris and New York last year. According to the Financial Times, with last year’s transfers, Frankfurt now ranks as the largest storage location for the country’s reserves after New York.

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In early 2013, the Bundesbank announced a plan to repatriate massive amounts of its physical gold reserves back into Germany. The goal is to have half of its gold back in within the country’s borders by 2020. Germany’s gold reserves are currently the second-largest in the world, with nearly 3,400 metric tons.

Germany began aggressively ramping up its repatriation program in 2014. The German central bank brought home 120 tons of gold that year. Carl-Ludwig Thiele, a member of the executive board of the Bundesbank, said the project was proceeding as planned:

The transfers are proceeding smoothly. We have succeeded in once again significantly increasing the transport volume compared with 2014. This means that operations are running very much according to schedule.”

The 2012 sovereign debt crisis in the eurozone led many Germans to question the safety of the country’s gold reserves. That precipitated a call to bring the gold home. Many analysts also believe the country is preparing for a currency crisis.

Some even speculated that Germany distrusts the United States in particular, with the repatriation announcement coming just months after the Federal Reserve denied Germany’s request to conduct their own physical inspection of the Fed’s gold reserves.

Germany isn’t the only country bringing its gold home. Last December, the Austrian National Bank announced that it brought 15 tons of gold back into the country. Officials unveiled a plan in May 2015 to bring a large portion of its holdings back into its own vaults. By 2020 Austria will maintain 50% of its reserves within the country’s borders.

The Netherlands and Belgium have also launched repatriation programs.

One of the primary reasons to bring gold home is fear of a currency crisis. Some analysts see the repatriation trend in Europe as a lack of long-term faith in the euro and the dollar. Should the need arise, these countries will have gold on hand to back their own currencies.

Gold repatriation underscores the importance of holding physical gold where you can easily access it. Gold-backed exchange-traded funds (ETFs) and “paper gold” have their place. But true security and stability comes from physical possession of precious metals. That’s exactly why these European countries are bringing their gold home, safe within their own vaults.

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6 thoughts on “Europe Continued Gold Repatriation at Faster Rate in 2015

  1. Helmut Beintner says:

    THE RACE IS ON!
    Repatriation of Gold,but hurry because there is only so much left to take home.
    Right now there is a desperate attempt to fill the stores to permit it to be given to the rightful owners.
    So as to purchase it relatively cheaply one must keep the price down even to the point of manipulating the Market.
    The competition loves it what you do because it allows them to also buy cheaply but for the reason to add to their holdings to keep it without having to giving away again.
    If i owe money,the last thing i want my creditors to know i do not have insufficient funds or the ability to pay back what i owe.
    So i will pretend everything’s okay.
    Should they find out the truth all hell will break loose and steps will be taken that the debt is paid at once.
    We know how that ruins an individual or company,but in case of a country there are many examples in history and presently happening.
    Now lets for example take the USA”now that’s just fictional”should the Gold vault not have what it says on paper,the first thing what would happening is the currency is practically worthless.
    Now to come up with your obligations to return what you do not have becomes impossible.
    But there is a way out:
    before the S.H.T.F. one could START A WAR!
    End of story and all problems solved.
    NOW THIS IS ALL FICTIONAL.

  2. Eisenfeld says:

    It seems the hour of truth is coming soon and quickly !!

  3. Bobby says:

    That war scenario is not really fictional.
    This is exactly how the Second World War started.

  4. Greg says:

    I am a very interested watcher of the USA although based in England.
    It has to be said that the reputation of the USA has dived in Europe and that the USA is viewed by many as a rogue state run by a criminal enterprise.
    There is a very interesting website I found accidentally ” what really happened” and it shows how “all wars are bankers wars”, fascinating.
    Be aware the the CITY of LONDON is a tiny enclave which has its own laws and where companies can vote in elections, one vote per 3 employees. Democracy NOT.

  5. Helmut says:

    Germany can kiss their Gold goodbye.
    And all the other Nations that had a notion to do that ,there is no Gold in that amount, only Paper promises.
    To make a statement to have the Gold by 2020 one can also say..NEVER.
    With all the war instigated and going on to make us belief it is about religion, look for the real Reason: The financial institution and governments of this world have painted themselves against the Wall by corruption and Greed.
    It is not a new idea then to do the obius,which can be copied from the history books,start a war,or preferably several all across the Globe.
    That is the only way for them to remove all traces of their incompetence and greed.
    Also permits to settle a few scores which are not “allowed”in peacetime.
    Right now we are in the beginning of a free for all.stay tuned.
    P.S.May you live in interesting times (old chinese Curse)

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