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Germans Getting Ready for a Gold Grab

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  • Description

    FBN’s Stuart Varney sounds off on Germany’s efforts to get their gold out of the U.S.

  • Duration 1:49
  • Date

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Thirty years ago I was invited into the gold vault deep underneath the Federal Reserve Bank in New York City absolutely fascinating.

I saw dozens of little rooms like prison cells each room had a number.

And contained piles of gold in -- each room contained the gold reserves of countries from all around the world.

They trust of America to keep its site now.

The Germans want 300.

Tonnes taken out of New York out of the -- and ship it over to the -- involved in Frankfurt June.

It is my take a -- first of all I don't know why they're doing it but there is a lot of speculation.

The people who don't trust paper currency are having a field day.

Germany uses the very troubled Euro so some speculate that may be a gold backed Deutsche Mark will make a comeback so bring the gold -- Obviously then not touching that with a ten -- the Germans are not saying anything about gold backed new George -- Then there is however German nationalism that's a fact up.

Some tabloids over that have asked -- all that gold really is still in America's vaults.

A German official came to see the gold was not a admitted to the vault.

May be that bringing it back to make -- make sure.

That they really do have it.

While his -- theory.

The Germans -- have -- with apologizing for World War II.

They've had it with paying southern Europe's bills they've had it with other people keeping that national treasure by the way.

That taking back 345.

-- from France as well.

They want to grow up financially and they want everyone to know -- and respected.

But then.

-- -- in the back of your mind.

Can you really say gold is useless.

And has absolutely no place in today's financial system you -- that really.

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