Germany Gold Deposits

Almost half of Germany’s gold is stored in vaults under the streets of Manhattan. Or is it?

The breaking news is flashed with headlines in gold report segment. The investors as well as the traders are curious to know the actual holdings by Germany. Lots more have been guessed on the topic but the real truth has yet to be gained. Peter Boehringer who is a gold bug and a member of impassioned tribe of investors and academics. Eager to reveal this fact of hidden gold reserve. Boehringer is very much distrust by Central Banks and paper money. The reason he finds is except it is exchanged with cash from their gold and silver vaults. He owns a company which is named as German Precious Metal Society and educate the society about the craziness of unbacked Monetary System.

In brief, Peter Boehringer is worried that the global economy is built on a fiction of currencies which is not backed up by precious metals. He wants to find out that gold of Germany and other Nations that they assures of holding actually exists or not!!!! Blogs written by him have become hub for precious metals.

           

Almost half of Germany’s gold resides at 33 Liberty St., the headquarters of the Federal Reserve Bank of New York, 80 feet below street level in a vault that sits on Manhattan’s bedrock. In 2012, Boehringer started a campaign on his blog to bring it home. He claimed the gold should be shipped to the German central bank in Frankfurt. As gold prices peaked in 2011, the Taxpayers Association of Europe asked him to draft a letter to the Deutsche Bundesbank seeking to know precisely where the central bank’s gold was. He eagerly agreed to help the group, which advocates for lower taxes and serves as an umbrella for 29 national associations across the continent. Gold bugs largely inhabit the fringes of finance, and some of their apocalyptic arguments for investing had begun to show cracks as gold prices slid. The news has stands opponents including bankers and journalists branded Boehringer a conspiracy theorist for even suggesting something was amiss at the core of global finance. However with all the oppositions he started to win. The first breakthrough occurred in September 2012, when Germany’s Audit Court followed Boehringer with its own, similar demands. Bar lists were cross-checked with bar markings. Spot checks found no irregularities. Yet any identifying trace of the original gold had been wiped out. He is of the opinion that the gold bars might be in order or might not be in order.