Where is gold? The German conservatives ring the alarm on reserves in the United States. – Politico

“Official representatives of the Bundesbank must personally count the bars and document their results,” said Bild.

In the past, the idea that gold stored in official chests may not be safe has generally been the reserve of cranks and conspiracy theorists. However, it was relaunched, ironically, by none other than the billionaire and Gray eminence From the Trump administration, Elon Musk, who called for an inspection of the United States’s own gold reserves.

You are not talking about Bullion Club

For the Deutsche Bundesbank, which is responsible for the safe management of the most precious financial asset in Germany, the first rule of Bullion Club is that you are not talking about Bullion Club, and you certainly do not throw away away the other members.

“We have a trustworthy and reliable partner in the Fed in New York for the storage of our holding up holdings,” said Bundesbank president Joachim Nagel, during a February press conference, a comment to which the bank directed politico on Friday. “It doesn’t keep me awake at night. I have total confidence in our colleagues from the American central bank. ”

However, it was barely a decade that the Bundesbank was shaken in a similar action, when the most immediate public concern was that the accumulated wealth of Germany would be wasted by removing the rest of the euro zone.

In 2013, a noisy campaign motivated by right -wing populists – who resonated enough with the wider population to embarrass the Chancellor of the Angela Merkel era – led the Bundesbank to repatriate all the gold which she had previously stored in the trunk of the Banque de France. At the time, the Bundesbank argued that it no longer needed a means of access to foreign currencies in Paris, now that Germany and France shared the euro.

Today, more than half of the Bundesbank reserves are stored in its premises in Frankfurt. Outside the United States, the remaining 13% is held at the Bank of England.