An article out this morning states that Germany's Bundesbank (World's 2nd largest holder of gold reserves) has refused lobbying efforts by German trade unions for it to sell gold to fund a $37 billion economic stimulus package. In 2004, 15 European central banks agreed to limit gold sales. Sales of gold by central banks over at least the past decade have been done for the express purpose of holding down the gold price (thus making these countries fiat currencies appear more stable and stronger than they actually are). Many are now recognizing that it might not have been a very wise decision to dump their gold, and with Russia, China and other nations trying to increase their gold holdings, have tightened up on gold sales over the last several years. It appears this will tighten even more, and this will make it more difficult to artificially supress the price of gold. Noront's Windfall project should become substantially more valuable as a result. To read the referenced article, click on the following link:

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