Readers may well think that we are referring in the title of today’s article to former Wall Street mover and shaker Bernard Madoff now enjoying the austere comforts of federal correctional complex in Butner, North Carolina. But know, Mr Madoff, made off (excuse the pun) with a few billion. No, this Ponzi scheme was organised by racketeers far more devious than even Mr Madoff! Numerous US politicians and civil servants in fact!
We previously reported on this in August 2013: http://www.british-gazette.co.uk/2013/08/17/wo-ist-unser-gold-where-is-our-gold/
You see it appears that German attempts to repatriate their gold have effectively ceased. Why? Probably because there is very little of it left to repatriate!
It is reported that the German gold repatriation schedule – to ship home 300 tonnes of gold from the US and 374 tonnes from France by 2020, in order to have half (1695.3 tonnes) of Germans official gold reserves stored in Frankfurt – will be halted as German politicians decided their gold “is safe in American hands”.
British Gazette comment: it is clear why the Germans were wanting to repatriate their gold reserves by 2020. This is because in 2020 the Euro becomes the currency for all EU members (except Britain and Denmark) and there will have to be by 2020 a full monetary union which will mean a common currency reserve.
Now we see the full unwinding disaster before us: The Euro backed by reserves said to be held in New York but which do not exist!