By Geoffrey Pike
Wealth Daily
A couple of years ago, an initiative was started to get the German government and its central bank to repatriate its gold reserves.
Germany stored much of its gold in New York following World War II, due in large part to the Cold War and the Soviet presence in East Germany. It was supposed to provide safety and diversification.
Obviously, there is no longer a Soviet Union or an East Germany. However, there may still be a threat to the gold that Germany holds. Is it really safe in the United States?
After increasing pressure to obtain physical possession of its gold, the Bundesbank (the German central bank) relented and requested that much of its gold be returned from the New York Fed in early 2013.