Umm Germany… about your gold…

For many the writing on the wall about the extent of the US central bank leasing out or even having sold all their gold came early last year when Germany asked the US for its 350 tonne of gold back and the US said that (what would take just two 747 charter flights) would take 7 years to arrange and wouldn’t let them into Fort Knox to inspect it … What’s worse is Germany only received 37 tonne in 2013 which is less than half what they were promised. Even more telling is it wasn’t even the same type of bars Germany deposited some 50 odd years ago.

There seems little doubt that Germany’s gold has been leased or sold and they are getting what the US can scrounge up. For some this supports the theory the US is leasing its gold to JP Morgan et al (possibly to suppress the price and make the Fiat USD look better) and for others it adds more support to the widely held view we are getting extremely close to the “squeeze” that will see gold prices sky rocket.