GLD replenished, page-37

I'm sorry slange. That is a cheap shot.

I should have said that it is smart to take central bank press releases seriously (believe them or not), when what they say is plausible.

As the European bond crisis deepened toward the end of 2011, German banks had serious problems funding their US dollar balance sheets. They were bailed out by the US Fed. Whether or not the loans required ECB or Bundesbank collateral is not clear, but the Fed holding of Bundesbank gold would have made collateral a non issue.

I had rocks in my head in November-December 2011! I believed what I read and got really long equities.