Three hundred tons of gold will be transferred gradually by 2020 a vault in New York to Germany , announced today the German central bank.
In Germany made regular questions about why 45% of the country's gold is stored deep in the vaults of the Federal Reserve , the Federal Reserve Bank in Manhattan, New York .
The root cause was that West Germany had acquired this gold through trade surpluses in the 1950s and 1960s and never took him outside the U.S. to be sure that I will not lose if the Soviet Union invaded Germany .
The Bundesbank responded today to a report in the newspaper " Chantelsmplat " which spoke of mysterious delays in repatriation program of the German gold .
The newspaper relied on a conservative political, Peter Gkaouvailer , who has regularly raised the issue and expressed doubts that gold is readily available in New York , asserts .
Representative of the central bank in Frankfurt said that this is not true and that the repatriation of gold in small quantities is preferred for security reasons .
The spokesman also rejected accusations that Germany did not monitor closely enough gold that is in New York.
" We have no doubt about the reliability of our partners ," he said.
The bank announced that five tonnes of gold were repatriated last year from New York , along with 32 tons repatriated from Paris , and that the program continues.
The newspaper notes that insurance companies cover only air shipments of gold and no missions with ships , while not insure shipments over a tonne of time .
Germany aims to keep only 37 % of the gold in the Federal Reserve in New York , where most of the world's store of gold . Transfers multibillion dollar made easy , simply transferring the gold from the car of a country to him of another, inside the vault.
The fall in the price of gold decreased in December last year the value of total gold reserves of the Bundesbank by 31 % to 94.9 billion euros.
In Germany made regular questions about why 45% of the country's gold is stored deep in the vaults of the Federal Reserve , the Federal Reserve Bank in Manhattan, New York .
The root cause was that West Germany had acquired this gold through trade surpluses in the 1950s and 1960s and never took him outside the U.S. to be sure that I will not lose if the Soviet Union invaded Germany .
The Bundesbank responded today to a report in the newspaper " Chantelsmplat " which spoke of mysterious delays in repatriation program of the German gold .
The newspaper relied on a conservative political, Peter Gkaouvailer , who has regularly raised the issue and expressed doubts that gold is readily available in New York , asserts .
Representative of the central bank in Frankfurt said that this is not true and that the repatriation of gold in small quantities is preferred for security reasons .
The spokesman also rejected accusations that Germany did not monitor closely enough gold that is in New York.
" We have no doubt about the reliability of our partners ," he said.
The bank announced that five tonnes of gold were repatriated last year from New York , along with 32 tons repatriated from Paris , and that the program continues.
The newspaper notes that insurance companies cover only air shipments of gold and no missions with ships , while not insure shipments over a tonne of time .
Germany aims to keep only 37 % of the gold in the Federal Reserve in New York , where most of the world's store of gold . Transfers multibillion dollar made easy , simply transferring the gold from the car of a country to him of another, inside the vault.
The fall in the price of gold decreased in December last year the value of total gold reserves of the Bundesbank by 31 % to 94.9 billion euros.
