timber, in the day and age of electronic tranfers and all, the idea of the gold needing to be in the city of new york to shore up a loan as collateral is indeed a relic of teh age of GOLD, but it isn't that case anymore, if the FED's guranteee to the Germans is meant to be valid, ie' saying its OK, you dont need to count it or check it, you have a bit of paper here that says its your gold, so don't stress. likewise, the germans wouldnt need to dispatch their gold to the Yanks to cover a loan/tranfer/forex etc etc... it simply doesnt wash that not having the money in situ in new york or money would in ANY way delay any such financial transfer.
