I figured they might be thinking of ditching the Euro someday and going back to their own currency and want to have the gold handy during the transition as the rest of europe implodes. That and I would not trust ANY bank in NYC to not steal it and deposit lead instead.
Even if Germany has $100B in gold thats not a whole lot compared to what they owe or spend a year. The US has quite a bit of gold in reserve but even with these prices its only worth a few months of spending (and they can't legally spend it on anything but lowering the debt anyway).
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