Gold has always been the supreme symbol of stability and trust, and Germany has a special relationship with this precious metal. The story of repatriation of German gold reserves is a fascinating chronicle of history, geopolitics and financial security, marked by decades of international storage, political pressures and complex logistics operations, in the center of which are Carl-Ludwig Thiele, former member of the Bundesbank. When Carl-Ludwig Thiele was 11 years old, his aunt gave him a 21 carat gold coin. «It was an incredible feeling to have it. It is still with me and I can describe it as if I had it in my hand. On one side is the image of Pope John XXIII, and on the reverse an image of the Holy Spirit floating above the bishops. » In the five decades since receiving that coin, Mr. Thiele – a high, direct man, with a cheerful way when the discussion reaches the bullion – has reached the state bureaucracy of Germany. He served 20 years in Parliament before making the transition from Berlin to Frankfurt to become a member of the Bundesbank Executive Council, the Central Bank of the country, and custodian of the institution's gold, writes Financial Times. In 2017, when the interview was conducted, Germany was one of the largest gold holders in the world: 3,378 tons, worth 119 billion euros, second after the US. Currently, it is in the same position. In the decades after the war, most of the German gold was stored in New York, London and Paris. When the country decided to bring half of gold back home, Mr. Thiele was put to the management of the operations. Since 2013, he has coordinated the transport of nearly 54,000 gold bullion – each value less than $ 510,000 at the prices of the time – in Frankfurt, the financial capital of Germany. This treasure was moved from the federal reserve of the US and Banque de France. The latest ingots have reached the Bundesbank headquarters, a few kilometers north of the center of Frankfurt, in August 2017. The way Germany's gold came abroad is a story that begins before the Great War. Read the continuation on www.businessmagazin.ro
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