Germany confirms it too: Gold is money!
Excellent news for Germany!
Did you know that a total of 674 tonnes of German gold were stored in New York and Paris? Yes. New York stored 300 and Paris 374 tonnes, which were supposed to be repatriated to Germany by 2020.
The transaction is not as easy as: “You have our gold, please give it back to us!”. But each year from 2013, several tonnes of gold bars have been sent from both countries back to Germany. Now, there are only 91 tonnes left for all those gold bars to be back home and the Bundesbank is making it a good day.
What the Germans actually celebrate
After the global financial crisis, the argument of 'gold isn't money' became quite popular. Some people say that that's what the central banks want us to believe. However, while gold is not easy to let go for one, it is a cause for celebration for the other.
If gold had no monetary value, the Germans would have no reason to celebrate the return of their gold bars to the country. In fact, Germany is celebrating that gold is money. The nation's insurance against inflation and global political uncertainty.
In a world of tension...
People always rely on gold as a financial hedge. Just like the Bundesbank.
- Protect your future -