Gold Market Instability: Does the US Have Fungible Gold Assets - to the Degree Claimed? German Bundesbank begins officially repatriating gold from the Fed -
Note. When France did this years ago it sent panic amongst the US financial leadership to the degree of monetary aggression.
Why? The inviting question has always been does the US have fungible gold assets to the degree claimed.
Charles De Gaulle was the first person in modern history to call the hand of the USA on its then obligation to convert French held dollar reserves into gold. I was a senior trader at the time.
History will look back on this salvo fired across US war financing as being the beginning of the end of the US dollar as the reserve currency of choice.
The reaction on the part of the US was to cut the tie between the dollar and convertibility. This again raises the question of does the USA have fungible gold to the degree that is claimed without 3rd party audits or any viewing publicly whatsoever.
If it is true as reliable sources today reported that Germany wishes to repatriate a significant amount of its gold, then that request is a modern version of the first salvo that Charles de Gaulle fired at the US treasury over convertibility.
1) I did denote my comment with a "jk" which in fact does mean I am kidding... 2) BN and I have been ALL in on this stock for a very very long time and he should know how ironic it is that we are seeing a rise in SP, after he said he sold.. 3) The sky is still falling for me... I am way down still and have all my eggs in this basket to see over 10 bucks!! Plenty of upside left IMHO
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