While moustachioed managers, contrary to the far better insight of their superiors, and mainstream spivs are trying to talk down Germany’s somewhat stunning shift in thinking – i.e. to repatriate its gold – as nothing but political pandering (or cost-saving); it seems, just as we predicted, the rest of the world are seeing this crack-in-the-confidence-armor the same way we have suggested. As we noted here, the first party to defect from the prisoner’s dilemma of all the bulk of global gold being held by the Fed, defects best (then the second, or even the third perhaps) and sure enough, via RTL, we see the Dutch CDA party has requested that Holland’s gold supply be repatriated. Who next?
The Dutch government says it has 612 tonnes of gold – with a value of around E24 billion – and is thereby in the top 10 of countries with gold reserves. The bulk of the Dutch gold reserves is in America and, to a lesser extent, in Canada and the United Kingdom. The rest, about 10 percent, is in Amsterdam.