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Biggest monthly withdrawal of custodial gold from NY Fed since 2001 – Zero Hedge
TND Guest Contributor: Chris Powell |
Zero Hedge says the Federal Reserve Bank of New York’s custodial gold report for October shows a reduction of 42 tonnes, the biggest monthly withdrawal in 13 years, apparently representing some of the gold repatriation recently announced by the Netherlands central bank. If the Netherlands can repatriate so much gold at once, Zero Hedge notes, the German Bundesbank’s gold repatriation operation can be so clunky only because the Bundesbank doesn’t really want its gold back that much, or else faces more political trouble in repatriating it. Zero Hedge’s report is posted here:
http://www.zerohedge.com/news/2014-11-29/federal-reserve-confirms-bigges…
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About Chris Powell:
Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here. This article is reprinted on The News Doctors with permission.
Source: http://thenewsdoctors.com/biggest-monthly-withdrawal-of-custodial-gold-from-ny-fed-since-2001-zero-hedge/
