Germany plans back to the half gold, Western Central banks or a crisis of confidence

Germany's Central Bank yesterday confirmed market famous message: Germany was part of the gold reserves stored in foreign banks back home.

It is learnt that the Germany Central Bank recalled the plan is being carried out in phases of gold, bank storage and transportation from New York back to 300 tonnes of gold, from France's Central Bank shipped back to 374 tonnes of gold. Germany's Central Bank, Central Bank's goal that by 2020, half of the gold reserves stored at the national level, while the other half will remain in London and New York, kept in France the gold will come back to Germany.

Currently, Germany's Central Bank has gold reserves of 3,396 tons, ranking the United States zhihou, second largest in the world. Among them, the 45% of the gold reserves deposited at the New York Fed, 13% store in London, 11% store in Paris, only 31% store in Germany in Frankfurt. Previously, Germany media, 69% gold abroad is "absurd". Germany's Central Bank is considering finding its gold reserves to the new location.

In recent years, the Fed has repeatedly refused Germany's central bank checks these golden, on the grounds that "Treasury may be a security risk and procedural issues". As the European debt crisis intensified, more Germans call for Germany's gold reserves back to domestic. Investment guru gross questions: Germany's Central Bank returned to gold reserve means that confidence between the banks has collapsed in the West?

In Germany after the Central Bank announced the news, the international price of gold was little changed. However, analysts said, although Germany only partial withdrawal of gold reserves of the Bank, but it should be clear full withdrawal of gold reserves on the consequences of the global monetary system. Germany's Central Bank could trigger a chain reaction, prompted other countries to start will be stored in the gold back to the country from London, New York or Paris. In addition, the United States and the United Kingdom seem to be losing its credibility as a trustee of the gold.

As early as last year, the Netherlands political party also called for will be kept outside the gold back to the country. To date, only United States State of tensions, Venezuela had returned to their country's gold.