The Deutsche Bundesbank and gold: A bond that never breaks?

The Alchemist/Wolfgang Wrzesniok-Rossbach/5-11-2023

graphic image of gold and silver stored in vault

“Over the next few years, the gold reserves literally exploded. By 1959, when the European Payments Union was replaced by the European Monetary Agreement, Germany had already received 1,584 tons of gold from its European partner countries. As a result of further inflows from the Bretton Woods system, among others, the Bundesbank’s total holdings reached 2,344 tons by the end of 1959, and the inflows continued steadily.”

USAGOLD note: Germany owns the second-largest stockpile of gold in the world at 3,355 tonnes. “T]he knowledge of the existence of this treasure,” says Wrzesniok-Rossbach, “clearly allows many Germans to sleep better in light of the many financial and economic policy imponderables in the
present day.

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