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Macleod and Suchecki on the German gold controversy
5:51a PT Monday, January 20, 2014
Dear Friend of GATA and Gold:
Two analyses of the gold controversy in Germany are offered today, one by economist Alasdair Macleod, research director for GoldMoney, the other by the Perth Mint's Bron Suchecki.
Macleod writes: "Opaque bullion markets including leasing activities by central banks, look likely to become a public issue, in Germany if not elsewhere. This being the case, it is very likely that the Bundesbank will want to distance itself from all leasing activities in London for fear of being accused of not looking after the nation's gold responsibly." He adds: "Timing for a schism between central banks over gold could hardly be worse for them."
Macleod's commentary is headlined "The BaFin Enquiry into Deutsche Bank" and is posted at his Internet site, Finance and Economics, here:
Suchecki writes that he is inclined to the view of fund manager, author, and geopolitical strategist James G. Rickards that the Bundesbank really does not want to repatriate any of its gold and is just putting on a small show to pacify domestic political opinion. Suchecki criticizes the secrecy woven around Germany's gold by the Federal Reserve Bank of New York and the Bundesbank itself but doesn't seem to think that it implies that something is wrong. His commentary is headlined "Why the Bundesbank Is (Slowly) Repatriating (Some of) Its Gold" and it's posted his Internet site, GoldChat, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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