Homeward Gold

Take that look of worry
I'm an ordinary man
They don't tell me nothing
So I find out all I can
--Phil Collins

Based on recent NY Fed data, ZeroHedge reports that gold once again appears to by flying out of Fed vaults toward its rightful owners in Europe. In addition to the Netherlands, it appears that Germany wants more of its gold back.

Seems a natural action given Germany's position in pending QE actions by the ECB (summarized nicely by John Hussman here).

Am beginning to wonder whether this massive bond buying program sanctioned by the ECB will be the straw the breaks the flawed EU's back.

If I were Germany, I'd want my gold back too ahead of such prospective craziness.

position in gold