David Frum

01.16.13

Germany Calls Home the Gold

Is Germany's repatriation of its gold reserves from storage in New York and Paris a signal of declining confidence in the Euro? Maybe, reports the Financial Times.

[A] German populace, worried by a potential break-up of the euro, started asking increasingly wild questions about the gold holdings. The issue was then supercharged by a report by the federal Court of Auditors that criticised the Bundesbank for having insufficient access to the gold in foreign vaults in order to test and count it.