S*** just got real. Germany is all about bailing out the Eurozone using the EFSF- so long as its the Euro being printed.
Try to get Germany to pledge some of its REAL ASSETS i.e. gold (even though largely actually in the possession of the NY/London banksters) and the gloves instantly come off.
This is pretty much all you need to know about the true function and value of gold.
The Frankfurter Allgemeine Sonntagszeitung (FAS) reported that Bundesbank reserves -- including foreign currency and gold -- would be used to increase Germany's contribution to the crisis fund, the European Financial Stability Facility (EFSF) by more than 15 billion euros ($20 billion).
The European Central Bank (ECB) would own the reserves, according to the paper, citing sources at the G20 meeting held in Cannes this week.
"Germany's gold and foreign exchange reserves, which the Bundesbank administers, were not at any point up for discussion at the G20 summit in Cannes," government spokesman Steffen Seibert said.
More from Reuters:
But just as a reminder in case anyone is confused- Gold isn't money!
