“FRANKFURT — Germans who never really warmed up to the euro may be able to sleep a little easier.
After decades of being safeguarded overseas, the nation’s gold reserves — a large part of them, at least — are once again safe in Frankfurt.
Not that the gold was ever in danger of being stolen, according to the Bundesbank, the German central bank, which is in charge of the reserves. But the Bundesbank said on Thursday that it had completed a planned transfer of some $13 billion in gold bars that for historical reasons had been stored in vaults deep below Lower Manhattan.
Whether gold matters anymore is questionable in an age of Bitcoin and digital payments. Even paper money is losing importance.
But at least for some Germans, many of them nostalgic for the deutsche mark, gold provides reassurance that the embattled euro is underpinned by something tangible.” Continue reading the full article via Germans Sent Gold Away to Keep It From the Soviets. Now Much of It Is Back. – The New York Times