Monetary war : from sovereign debt to sovereign gold

 As I wrote in "Le nerf de la guerre monétaire", behind sovereign debt, there's gold. Because the supposed-to-be-deadly Euro sovereign debt crisis is over, and the Euroland is successfully running towards much stronger integration, a new battlefield is being investigated : "Audit the gold Reserves". 

This is a very tactical game, and here are some recent developments:

• Bundesbank joins Fed in demanding secrecy for gold swaps, gata.org, Dec. 01, 2010
• Give Treasury Its Proper Role on the National Security Council, NY Times, July 23, 2012
• Where’s the gold? NY Fed undergoes first-ever audit, RT.com, August 04, 2012
• The U.S. government has been quietly carrying out an audit of all the American-owned gold at the New York Fed. The process involves drilling small holes in about ten per cent, or roughly 350, of the bars to make sure they're pure. The results will be announced towards the end of the year.
• Why America is going to win the global currency battle, FT.com, Oct. 12, 2012
• Unease about Germany's unchecked gold reserves, AP, October 22 2012
• Rechnungshof fordert Inventur der Goldreserven, Der Spiegel, October 22 2012 [english translation : German Court Demands Bundesbank Audit Sovereign Gold Holdings, ZeroHedge.com]
• The Bundesbank has supposedly decided to transfer 50 tonnes of gold held with the New York Fed to Germany over the next three years for thorough examination.
• Statement by the Deutsche Bundesbank on the accounting treatment of the gold reserves, Bundesbank, Oct 22, 2012
• Bundesbank Disagrees With Audit Court’s View on Gold Reserves, Bloomberg, Oct 23, 2012
• Gold reserves stored securely, Bundesbank, Oct 25, 2012
• The Deutsche Bundesbank’s gold holdings (as per 31 December 2011), Bundesbank, Oct 25, 2012
• Remarks on current developments in Europe, Bundesbank, Nov 1, 2012

 We, Europeans, must not be worried. We believe NY Fed when they say the german gold is there. And even if it weren't NY Fed is good for its replacement.

[This article was first updated 10/28 : add links about statements published 10/25 ; it will be further updated depending on future new important publications or press releases]