For the first time in 21 years, the German Central Bank (Bundesbank) bought yellow precious metals for the country's reserves. As it became known recently, in September this year, German gold reserves rose to 108.34 million ounces.

Against the backdrop of a change of leadership at the ECB and the rapid decline of the German Deutsche Bank, fears of the onset of another financial crisis are increasing. In this regard, the financial authorities of Germany again turned their attention to gold, which acts as a protective asset.

It is worth recalling that the purchase of gold in September this year was a notable event in Germany after the Bundesbank returned 583 tons of yellow precious metals worth $ 31 billion to the country in 2017. The repatriation of gold was carried out faster than planned. The return of German gold was first announced in January 2013. Then it was planned to return 674 tons from the USA and France.

It is also worth saying that Germany is not the only country in the world that has returned to build up its gold reserves. The process of dedollarization is carried out in many countries of the world, including Russia. Also, an active policy on the purchase of gold for reserves pursues China. Although a lot of information on the gold market in this Asian country is silent, so as not to affect the world price of yellow precious metals. Central banks are worried about the impending collapse of the US dollar. For this reason, there is a "gold rush" among central banks around the world.

According to analyst Peter Schiff, the days of the US dollar are numbered. And it is only a matter of time before its collapse occurs. Therefore, the Central banks of different countries are feverishly increasing their reserves of gold in order to reduce the share of American currency in them.

The situation with gold in Germany tells us that even there the financial authorities understand what awaits the global economy. The fact is that usually this European country pursued a conservative policy regarding gold. And now we are seeing a change of vector. This only indicates that the era of fiat money, which is not backed by anything, is gradually coming to an end.