Forgive my aforementioned typo on Bundesbank.
That said, this is possibly a watershed moment for the "conspiracy theorists".
Why would the Bundesbank remove that much gold,all of it, which represents about 45% of Germany's Gold holdings, and remove ALL from the French bank, which represents about 10% of their gold holding?
There certainly may be simpler explanations, but one thing comes to mind.TRUST
The conspiracy(please forgive the moniker)theorists contend,among other things, that the accounting of Central Banks is, well shall we say, "flawed". Ahem, ahem.
And if I didn't trust what they claim to have in physical, I'd call in my chips too!
The Bundesbank is essentially saying, we trust you, BUT, we'd rather hold our own gold if you don't mind.
This could really upend the market when others start asking for delivery.
I wouldlove to hear other explanations for their repatration.
"We don't believe your numbers."
"Can we have our physical back."
"The explainations that You put forth are suspect."
"Give us our F&*%in Gold"
I guess I'm not a diplomate.
The arguement that Gold is not money is so thin. No it isn't paper dollars, it's better, it's convertible into anything - even Tuna.
The game is getting very interesting.