Does Germany actually store ~50% of its physical gold reserves in the US Federal Reserve? Yes
Has Germany requested that the US Return the Gold it has entrusted the the US Federal Reserve? Yes, but only part of it, and all the gold they store in Paris
Has Germany requested an audit of the actual gold in the reserves? Has the US refused the Audit Request? Yes and yes
Will the transfer only finish at 2020? Yes
Here are more credible news source telling the same story:
The startling news that Germany is repatriating its gold reserves from the United States and France has got precious metals speculators worried that this is the first major sign that trust between central banks across the globe could be deteriorating.
Still, it is momentous that the New York Fed has the largest known depositary of monetary gold– some 23% of the globe’s gold bars, including half the hoard of the Netherlands and considerable holdings from other nations. Germany will feel a lot more secure counting its own gold bards, rather than depending on an audit from the central banks of France and the U.S. Mark it down as the strongest European power flexing its perfect right– and setting off a wave of speculation. Are foreign gold reserves safe in New York- or could they be expropriated? Very doubtful. Could the the New York Fed be lending out gold bars as security for sovereign loans? I reckon that’s illegal.
Bundesbank announced last week that they’ll repatriate 674 metric tons of their total 3,391 metric tonne gold reserves from vaults in Paris and New York to restore public confidence in the safety of Germany’s gold reserves. The transfer from the Federal Reserve is set to take place slowly over a seven year period and will only be completed in 2020.
Also, this picture:
You can see that currently 45% of Germany's gold is stored in New York, and ~20% of it will be moved to Germany. Also, at the end of the process Germany will be holding 50% of its own gold.
The financial world was shocked this month by a demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. The Bundesbank’s announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany’s behalf. One cannot help but wonder if the refusal triggered the demand.
- Der Spiegel, a report from Oct. 2012 telling about Germany's plan of inspecting and returning gold from abroad:
For decades, almost half of Germany's gold has been stored deep below the Federal Reserve Bank of New York. Now, with the euro crisis swirling, German politicians are asking their central bankers to take stock of the reserves. Some even say that the gold should be shipped home.