The following article by the eminent Professor Fekete nails many of the issues directly and indirectly around the German gold repatriation story....a brilliant analysis indeed....
"........gold is a monetary metal. All the bad-mouthing of gold by economists in the pay of governments won’t change that fact"
"As is well known, there has never been a successful experiment with fiat currency in all history"
"Permanent backwardation means that confidence in fiat paper currency and government promises to pay has evaporated. After all, considering their origin, irredeemable bank notes are nothing but dishonored promises to pay gold. Once confidence is shattered, all the king’s horses and all the king’s men cannot put Humpty Dumpty together again,"
"But is the gold standard not deflation-prone? In the 1930’s the international gold standard collapsed because of this very fact, did it not? As the father of the Deutsche Mark, Wilhelm Röpke (1899-1966) said: it is not the gold standard that failed, but those in whose care it was entrusted."
Yes, it certainly lays to rest some of the spurious arguments and red herrings that get trotted out by those that rely on a corrupt system for their liveliehoods. Trotted out by those that would actually advocate murder, death and destruction over a gold standard....because they care about people starving.....
