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this stuff is spreading - Pimco’s Gross ponders if Bundesbank gold move means...

posted on Jan 15, 2013 11:32AM

Pimco’s Gross ponders if Bundesbank gold move means central banks don’t trust each other

January 15, 2013, 11:19 AM

PIMCO chief Bill Gross is tweeting about Germany’s reported plan to repatriate its gold reserves.

On Monday night, Germany’s Handeslblatt newspaper reported Bundesbank has a new strategy that involves fewer gold bars flung afar. Gold .bgChannel, .bgRealtimeChannel, .bgRevision { display: none; } /quotes/zigman/4331913 GCG3+0.75% has responded with some gains Tuesday.

Up pops Gross Tuesday with this tweet:

PIMCO ‏@PIMCO

Gross: Report claims Germany moving gold from NY/Paris back to Frankfurt. Central banks don’t trust each other?

This drew some fairly quick responses:

George Stockus ‏@gstockus @PIMCO faith in a currency not backed by gold is one thing…faith in someone storing your gold is another!

Mazz ‏@BillyGambini

@PIMCO no I think it’s more like the Germans don’t trust anyone

maximus ‏@wolverine2710 @PIMCO inventory check …just making sure ben did not hit the cookie jar

More details are due Wednesday from the Bundesbank, according to the Handeslblatt report.