Now that every Central Bank on planet Earth is looking to buy gold…WHO ARE THE SELLERS?!
- The End Of Fiat In One Chart?
by Tyler Durden, https://www.zerohedge.com/
For the first time in 21 years, Germany has openly bought gold into its reserve holdings. German reserves climbed to 108.34m oz in September from 108.25m a month earlier.
With ECB mutiny and Deutsche Bank’s rapid demise, fears are rising of a looming financial crisis, and with that, Germany has shown a renewed interest in gold.
As a reminder, September’s outright purchase of the precious metal comes after Germany’s central bank, the Bundesbank, repatriated 583 tonnes, or $31 billion worth, of gold in 2017, years ahead of schedule.
Which came after Germany’s stunning announcement in January 2013 that the Bundesbank would repatriate 674 tons of gold from the NY Fed and the French Central Bank (which was initially abandoned in 2014).