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Swapped Bundesbank Gold and Other Mysteries

In: The Gold Cartel

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  • Dimitri Speck

Abstract

We now turn to a theory that is probably only of interest well beyond German borders. For years it has been rumoured in the gold market that the Bundesbank has lent out about half of its gold, about 1,700 tons, via a swap with the USA (some people even say that all of the gold is gone). This assertion is a result of the fundamental mistrust of central banks due to their non-transparent information policy, the concealment of the size of gold loans and the interventions that have been kept secret for years. The dearth of information naturally encourages theories that attempt to fill in the blanks. For this purpose, sparse individual observations and individual hypotheses have to be combined to create an overall picture. In this type of exercise, one can, at times, overshoot the mark. We take a look at the individual theses that led to the assertion that the Bundesbank’s gold is largely gone.

Suggested Citation

  • Dimitri Speck, 2013. "Swapped Bundesbank Gold and Other Mysteries," Palgrave Macmillan Books, in: The Gold Cartel, chapter 0, pages 151-153, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-28643-7_27
    DOI: 10.1057/9781137286437_27
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