What were the reasons for the Gold being stored in the US?
Are those reasons still true?
If political are those reasons going to be true 3 years from now under a different administration and knowing the answers to these questions what actual benefit can be achieved preparing facilities and bringing it back to Europe?
If unwilling to trust the US with X value of Gold what else can they not be trusted with? Projects of comparable value involing their govt? etc etc
AntwerpPeter on
Like all European countries should do. The USA can’t be trusted anymore, they know it and they don’t care.
Challenge3v3rything on
Do it now – it will take long enough and the US admin will do everything in their power to slow it down. Better to start immediately.
gyrospita on
I want to see Merz build pressure against the US fascists, lol. I believe we can write that off.
Tyrannosaurusblanch on
……..before Trump steals it.
PainInTheRhine on
Damned if they don’t, damned if they do. As long as it stays where it is, they technically ‘have’ it and it acts as part of collateral for any international loans (bonds, etc.) .
If they demand it back and Trump says ‘lol, fuck off, we are taking it in payment for WW2 because you did not say thank you’ , they take a huge confidence hit since it means part of their reserves does not exist anymore.
EbbNervous1361 on
The gold is literally useless and worthless other than for use in electronics.
InstructorBibi on
Are we even sure the gold is still there?
cirillogiuseppe1 on
i don’t see italy doing it my pm Meloni loves Trump and she is ready to give him everything he wants .
diamanthaende on
As mentioned in the article, Germany already brought hundreds of tons of gold back to Frankfurt a few years ago, so it’s not like it would be without precedent.
Not having all your gold stored domestically made sense, especially during the Cold War, as it allowed the government to remain functional and solvent in exile, in the case of military occupation by a foreign power.
But geopolitics are … in a bit of flux these days, hence shipping the gold back home makes sense.
$245bn (in gold) for Germany and Italy combined is a lot of money. But it is dwarfed by the much larger hoards of US treasury bonds that countries like the UK or Japan have on their books. Looking at it from the same perspective, that’s at least as problematic, if not more so. In contrast to that, Germany hardly has any US treasuries left, for example.
Confident-Visual7651 on
Gold…..What Gold beats me!
Gregib on
It would be fascinating to see if all the gold “on the books” is actually in US vaults… Imagine the gold run if the US started waffling about it…
thrownkitchensink on
Many countries have silently moved parts of their gold already.
J-Midori on
Trump’s not following court orders so they will probably have to go and get it. Also Trump might have his it somewhere else and will give it back in two weeks
Great_Attitude_8985 on
cant they just sell it at the currently high market price? Why do we need gold reserves when we still have open credits?
g-m-f on
Yo, what ship/ plane will this be on? Asking for a friend.
_chip on
Safest place for it to be. Trump will be gone in a few years. It already happened once. Biden came in and reunited NATO and it expanded.
juicybbybrat on
It’s basically a massive flex and a vote of no confidence in the global system as it stands.
got_light on
Good.
Money and power is the language lil donny perfectly understands
Be-skeptical on
Do it before Trump steals it. Assuming he hasn’t already
20 commenti
What were the reasons for the Gold being stored in the US?
Are those reasons still true?
If political are those reasons going to be true 3 years from now under a different administration and knowing the answers to these questions what actual benefit can be achieved preparing facilities and bringing it back to Europe?
If unwilling to trust the US with X value of Gold what else can they not be trusted with? Projects of comparable value involing their govt? etc etc
Like all European countries should do. The USA can’t be trusted anymore, they know it and they don’t care.
Do it now – it will take long enough and the US admin will do everything in their power to slow it down. Better to start immediately.
I want to see Merz build pressure against the US fascists, lol. I believe we can write that off.
……..before Trump steals it.
Damned if they don’t, damned if they do. As long as it stays where it is, they technically ‘have’ it and it acts as part of collateral for any international loans (bonds, etc.) .
If they demand it back and Trump says ‘lol, fuck off, we are taking it in payment for WW2 because you did not say thank you’ , they take a huge confidence hit since it means part of their reserves does not exist anymore.
The gold is literally useless and worthless other than for use in electronics.
Are we even sure the gold is still there?
i don’t see italy doing it my pm Meloni loves Trump and she is ready to give him everything he wants .
As mentioned in the article, Germany already brought hundreds of tons of gold back to Frankfurt a few years ago, so it’s not like it would be without precedent.
Not having all your gold stored domestically made sense, especially during the Cold War, as it allowed the government to remain functional and solvent in exile, in the case of military occupation by a foreign power.
But geopolitics are … in a bit of flux these days, hence shipping the gold back home makes sense.
$245bn (in gold) for Germany and Italy combined is a lot of money. But it is dwarfed by the much larger hoards of US treasury bonds that countries like the UK or Japan have on their books. Looking at it from the same perspective, that’s at least as problematic, if not more so. In contrast to that, Germany hardly has any US treasuries left, for example.
Gold…..What Gold beats me!
It would be fascinating to see if all the gold “on the books” is actually in US vaults… Imagine the gold run if the US started waffling about it…
Many countries have silently moved parts of their gold already.
Trump’s not following court orders so they will probably have to go and get it. Also Trump might have his it somewhere else and will give it back in two weeks
cant they just sell it at the currently high market price? Why do we need gold reserves when we still have open credits?
Yo, what ship/ plane will this be on? Asking for a friend.
Safest place for it to be. Trump will be gone in a few years. It already happened once. Biden came in and reunited NATO and it expanded.
It’s basically a massive flex and a vote of no confidence in the global system as it stands.
Good.
Money and power is the language lil donny perfectly understands
Do it before Trump steals it. Assuming he hasn’t already