Kindle Posted February 25, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Share Posted February 25, 2017 This is an old article. Why do you guys think Germany is moving gold out of the usa? https://www.wsj.com/articles/germany-pulls-tons-of-gold-reserves-from-u-s-and-france-1486638006 Link to comment Share on other sites More sharing options...
OneLight Posted February 25, 2017 Group: Royal Member Followers: 22 Topic Count: 1,294 Topics Per Day: 0.21 Content Count: 31,762 Content Per Day: 5.26 Reputation: 9,760 Days Won: 115 Joined: 09/14/2007 Status: Offline Share Posted February 25, 2017 Unless someone becomes a member of the site, they cannot read past the first paragraph. From what I read, it could be for any reason. My question is, why store your money at another persons house? Link to comment Share on other sites More sharing options...
Kindle Posted February 25, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Author Share Posted February 25, 2017 1 hour ago, OneLight said: Unless someone becomes a member of the site, they cannot read past the first paragraph. Can you explain what this means 1 hour ago, OneLight said: My question is, why store your money at another persons house? That's a good observations. I wonder why they put it in the us in the first place. Link to comment Share on other sites More sharing options...
Guest Posted February 25, 2017 Share Posted February 25, 2017 2 hours ago, worthy said: Can you explain what this means That's a good observations. I wonder why they put it in the us in the first place. Lower tax rates. Link to comment Share on other sites More sharing options...
Kindle Posted February 25, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Author Share Posted February 25, 2017 (edited) 1 minute ago, JaniceR said: Lower tax rates. I was just thinking about you. Wondering where you've been Edited February 25, 2017 by worthy Link to comment Share on other sites More sharing options...
Guest Posted February 25, 2017 Share Posted February 25, 2017 Just now, worthy said: I was just thinking about. Wondering where you've been I started a new job this week and am adjusting to the new schedule. I just found this. It's Wikipedia, but might be of some value. In past, nations from across the globe have stored their gold at the Federal Reserve Bank of New York (FRBNY) for numerous reasons; During World War II Germany confiscated as much gold as they could from nations they occupied, other vulnerable nations anticipated by shipping their gold to the US; After World War II there was the threat of the USSR to seize sovereign gold reserves as spoils of any Cold War action; Under the Bretton Woods System (1944 -1971) it was agreed the US dollar was the world reserve currency, backed by gold. It was thus convenient to store gold in New York for trade settlements; additionally dollars that were converted into gold were credited to FRBNY foreign gold accounts; After the Bretton Woods system, when gold was officially removed from the monetary system, gold was often sold or leased by central banks, facilitated by their accounts at FRBNY. In the aftermath of the financial meltdown in 2008 European central banks stopped selling gold, Asian and South-American central banks increased official purchases, and central banks from all continents began to worry if storing gold abroad was wise when the next global financial crisis evolved. There are rumors that US has sold a portion of this gold to underpin the US dollar hegemony in recent decades. Edmund Moy, former Director of the United States Mint (Fort Knox), quoted on June 13, 2014: "Finally, more countries are repatriating their gold. For them, an audit is not enough. They would like their gold back. Azerbaijan, Ecuador, Iran, Libya, Mexico, Romania and Venezuela is a short list of countries that have requests into their custodians to transfer some or all their gold back to their countries." Link to comment Share on other sites More sharing options...
Kindle Posted February 25, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Author Share Posted February 25, 2017 Just now, JaniceR said: I started a new job this week and am adjusting to the new schedule. Good for you. 1 minute ago, JaniceR said: I just found this. It's Wikipedia, but might be of some value. In past, nations from across the globe have stored their gold at the Federal Reserve Bank of New York (FRBNY) for numerous reasons; During World War II Germany confiscated as much gold as they could from nations they occupied, other vulnerable nations anticipated by shipping their gold to the US; After World War II there was the threat of the USSR to seize sovereign gold reserves as spoils of any Cold War action; Under the Bretton Woods System (1944 -1971) it was agreed the US dollar was the world reserve currency, backed by gold. It was thus convenient to store gold in New York for trade settlements; additionally dollars that were converted into gold were credited to FRBNY foreign gold accounts; After the Bretton Woods system, when gold was officially removed from the monetary system, gold was often sold or leased by central banks, facilitated by their accounts at FRBNY. In the aftermath of the financial meltdown in 2008 European central banks stopped selling gold, Asian and South-American central banks increased official purchases, and central banks from all continents began to worry if storing gold abroad was wise when the next global financial crisis evolved. There are rumors that US has sold a portion of this gold to underpin the US dollar hegemony in recent decades. Edmund Moy, former Director of the United States Mint (Fort Knox), quoted on June 13, 2014: "Finally, more countries are repatriating their gold. For them, an audit is not enough. They would like their gold back. Azerbaijan, Ecuador, Iran, Libya, Mexico, Romania and Venezuela is a short list of countries that have requests into their custodians to transfer some or all their gold back to their countries." OK thanks Link to comment Share on other sites More sharing options...
missmuffet Posted February 25, 2017 Group: Royal Member Followers: 34 Topic Count: 1,989 Topics Per Day: 0.49 Content Count: 48,687 Content Per Day: 11.89 Reputation: 30,342 Days Won: 226 Joined: 01/11/2013 Status: Offline Share Posted February 25, 2017 4 hours ago, OneLight said: Unless someone becomes a member of the site, they cannot read past the first paragraph. From what I read, it could be for any reason. My question is, why store your money at another persons house? That would be my question too. Link to comment Share on other sites More sharing options...
other one Posted February 25, 2017 Group: Worthy Ministers Followers: 29 Topic Count: 593 Topics Per Day: 0.08 Content Count: 55,872 Content Per Day: 7.56 Reputation: 27,622 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted February 25, 2017 12 hours ago, missmuffet said: That would be my question too. it appears to me that JaniceR's post answered that question pretty well. just in case you missed it or hadn't got to it yet... Link to comment Share on other sites More sharing options...
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