After WWII, Germany started broke but after building trade, they started re-building their gold reserves. A large percentage was deposited here for a few reasons; One was ease to trade and throughout the cold war, safety was a concern.
Whether you believe that or not, doesn't matter.
What begs the questions are why pull their reserves out of the US Central Bank and France's Central bank NOW?
The second question is why not all at once and why do it over a period of years?
The audit committee alleges trust was never a factor.......so then why audit and why pull it.....incrementally?
There's no question, the Bundesbank knows Gold is the only real currency. That's why after WWII and throughout(including Bretton Woods) they built what amounts to the largest Gold Reserve in Europe.
In my mind, there's no question they know the currency wars are a reality and rather than fall victim to holding an IOU or, in many investor cases, a share of an ETF, they want THEIR gold in THEIR hands.They know inflation is coming. And, they know when they traded Marks for Euros, they would eventually be screwed.
So, pundits can say anything they want about this, but this is the biggest news (in my opinion) in the form of a "TELL",in years!!!!!!