After two years of diplomatic struggles and scandals involving the US Federal Reserve, Germany gave up on its attempts to repatriate its gold. In order to save face, Bundesbank issued an official statement that underscores its “trust” in its American partners. The saga of German gold repatriation started in the aftermath of the European debt crisis, when a grassroots campaign began pressuring the government in Berlin to bring the gold home from New York and London. After a long and difficult media campaign, Bundesbank overcame its initial reluctance and demanded a full repatriation of the Germany’s entire $141 billion gold … Continue reading Germany Surrenders Its Gold to the Fed