Bundesbank Refuses Gold Control

22.10.2012

The Bundesbank, has refused to allow the German members of parliament Philipp Mißfelder and Marco Wanderwitz to view the German gold reserves stored in Paris and London. Reason: The central banks in Paris and London do not have suitable rooms for visits.

The German federal bank, the Bundesbank, has refused to allow the German members of parliament Philipp Mißfelder and Marco Wanderwitz to view the German gold reserves stored in Paris and London. As reported by the newspaper Bild-Zeitung (Monday edition, Germany's largest newspaper), Carl-Ludwig, a member of the Bundesbank’s Executive Board, wrote a letter to the two deputies saying that the central banks in Paris and London do not have suitable rooms for visits. Large portions of the German gold reserves (a total of 3,400 tons worth more than € 150 billion) are kept abroad, and only a fraction is held by the Bundesbank in Frankfurt.

Philipp Mißfelder, foreign affairs spokesman of the CDU/CSU coalition, wanted also to inspect the German gold reserves at the Federal Reserve Bank in New York in February - but didn't succeed. Now he wanted to do the same in London and Paris. This is related to intense criticism by accounting experts and the German Federal Audit Office concerning the storage of Germany’s gold reserves abroad.

http://www.mmnews.de/index.php/english-news/11126-bundesbank-refuses-gold-control