Bundesbank Buys Gold—Increasing Concerns about Deutsche Bank, European Banks, The Euro And Dollar
The comments below are an edited and abridged synopsis of an article by Goldcore
For the first time in 21 years, Germany has openly bought gold into its reserve holdings.
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.
This came after Germany’s stunning announcement in January, 2013 that the Bundesbank would repatriate 674 tons of gold from the New York Fed and France’s central bank.
Now that the always-conservative Germans are back in the market buying gold, one wonders if the end of fiat is drawing closer. Goldcore presents a chart that may show the end of fiat currency.