Romania Wants Return of 93.4 tons as Gold Repatriation Ratchets Up

Romania Wants Return of 93.4 tons as Gold Repatriation Ratchets Up

Two railway carloads, or 93.4 tons of gold, were transferred to Russia as German troops began to threaten the region during World War I.  According to the article, “All the governments of Romania since World War I, regardless of their political colour, have tried unsuccessfully to negotiate a return of the gold.”

Of course, this is not the first time the Romanian people, or people of any region for that matter, have found their monetary metals tempting to foreign powers. Invaders sent by Roman Emperor Trajan found gold and silver in great quantities in the Western Carpathians, which run through what is now modern-day Romania. Resulting from this conquest, Trajan brought back to Rome over 165 tons of gold and 330 tons of silver.

It is interesting that considering this history independent auditors say Germany has stored its gold abroad since the Cold War in case of Soviet invasion. Additionally, the auditor’s report says the German gold stored in London has fallen “below 500 tons” due to recent sales and repatriation. Considering German gold stocks have remained the same, the sale of physical gold must have been offset by an acquisition of paper promising to pay gold from the Federal Reserve Bank or other entities needing a physical supply of gold. More>>

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