Germany pulls all it's gold from French vaults

[HavocXphere]

In a secret operation that took five years to complete, Germany’s central bank moved 374 metric tons of gold, worth around $15 billion, out of vaults in Paris.

I wonder why

https://qz.com/1060645/germany-has-pulled-all-of-its-gold-out-of-paris/

 

[ScottulusMaximus]

Oh my gawd!!!! It's happening agaaaaaaiiiiiinnnnn!!!!!

 

[HavocXphere]

Oh my gawd!!!! It's happening agaaaaaaiiiiiinnnnn!!!!!

lol nah. This time round ze German are applying their efficiency to being peaceful.

Something is up though...they've also been attempting to pull their US gold.

Dunno why but this is making me seriously jittery...Germany is crushing it economically...so a powerful defensive move like this...idk what to make of it.

 

[Thor]

Most likely expecting the Euro zone to crash.

 

[Gtx Gaming]

Converting it to BTC

 

[OrbitalDawn]

They moved some of their gold abroad during the Cold War because they didn't want the Soviets to get it. Now they're just taking it back.

They repatriated a lot from New York earlier in the year, as well.

 

[TheMightyQuin]

They moved some of their gold abroad during the Cold War because they didn't want the Soviets to get it. Now they're just taking it back.

They repatriated a lot from New York earlier in the year, as well.

Thanks, Orbital. You can pack your tinfoil hats away again, guys.

 

[saturnz]

Something is up though...they've also been attempting to pull their US gold.

Peter Schiff expects another financial crisis soon, mostly sparked by the dollar crashing as people realise it has no more value.

My view is that we never really recovered from the original one, it was just propped up by QE

 

[rietrot]

Peter Schiff expects another financial crisis soon, mostly sparked by the dollar crashing as people realise it has no more value.

My view is that we never really recovered from the original one, it was just propped up by QE

+1 can believe I can actually agree with something you said.

 

[Ninja'd]

What about all the ones in the Swiss vaults?

 

[pinball wizard]

Thanks, Orbital. You can pack your tinfoil hats away again, guys.

I thought Orbital was the chief conspiracy theorist here? I'd posit he is disseminating false information.

 

[The_Mowgs]

Peter Schiff expects another financial crisis soon, mostly sparked by the dollar crashing as people realise it has no more value.

My view is that we never really recovered from the original one, it was just propped up by QE

I have no knowledge of finance etc but what do you think will happen to crypto currencies if this were to happen?

 

[Gtx Gaming]

I have no knowledge of finance etc but what do you think will happen to crypto currencies if this were to happen?

it will boom, banks can't touch it

 

[saturnz]

I have no knowledge of finance etc but what do you think will happen to crypto currencies if this were to happen?

generally in times of uncertainty (such as a financial crisis) people seek out assets that are known as "safe havens".

I have yet to see a crypto currency described as a safe haven amongst market participants, so my view is people will flock out of it and into other assets.

I don't know really what will happen though, because the dollar used to be a safe haven and is now being questioned, so in the crisis will people buy dollars which have no value? it certainly happened in the past and may happen again.

 

[rietrot]

I have no knowledge of finance etc but what do you think will happen to crypto currencies if this were to happen?

It will sink like a stone.
Crypto is seen as the future. So if any kind of financial crisis happens people's outlook of the future goes negative and crypto will follow.
Or the demand for crypto will increase if people treat it like a safe haven simular to gold.

High rewards comes with high risk and people have been getting pretty good rewards with crypto.

 

[Marius Flash]

 

[NarrowBandFtw]

it will boom, banks can't touch it

If a hard currency like the USD goes into full crises mode the world will distrust pretty much every kind of fiat money for a while, crypto will be bludgeoned along with everything else, perhaps after a slight delay while the rats jumping off one ship try the crypto lifeboat until they realize it is also sinking.