Where is Germany's gold? And does it matter?
August 28, 2013 9:25 PM Subscribe
A friend mentioned something to me about the U.S. "losing Germany's gold," and I hadn't heard anything about this story. I did some research online and read about Germany's gold holdings in the Federal Reserve Bank, and how the Fed has refused to allow Germany to audit its holdings in the Fed vaults in New York City.
posted by Unified Theory to law & government (9 answers total) 1 user marked this as a favorite
Germany has apparently asked to repatriate some of its gold from the Fed back to Germany, and the Fed said that won't be possible until 2020. Apparently German policymakers have voiced doubts about whether Germany's 122,597 high-quality gold bars supposedly stored in the NYC Fed vault are actually there.
There's little written about the U.S. holding onto the gold until 2020, and what's out there is from publications of dubious merit
. What is the real story here? Is there any excuse for the Fed not to have Germany's gold? Is this actually a scandal? Why would it take until 2020 for us to give Germany any of their gold back?