Germany is facing calls to withdraw its billions of euros’ worth of gold from US vaults, spurred on by the shift in transatlantic relations and the unpredictability of Donald Trump.
Germany holds the world’s second biggest national gold reserves after the US, of which approximately €164bn (£122bn) worth – 1,236 tonnes – is stored in New York.
Is this a joke? Does anyone realistically believe that gold will ever set foot on European soil again?
“We should give up because there is no hope”
Having the US be forced to admit that the gold isn’t there anymore would be even better. That is basically card blanche of leverage. Germany could single handedly strong arm the US into whatever they want lest the US wishes to risk a total collapse of their finances
America would have never granted that power if they wouldn’t have an even bigger leverage, or trust.
Germany has given space to the US when trading gold in the past:
https://en.wikipedia.org/wiki/Bretton_Woods_system
Smartass mode on: “again” isn’t quite right, because the gold was never in Germany/Europe. It has been in the US since the beginning and has never been anywhere else.
why not?
If by any chance they haven’t spent it all and part of the gold still exists—which is really doubtful—I think they would have to go in there with tanks to be able to get it out, and this is not a Trump-related issue; it has been known for decades that the most likely scenario is that the gold is no longer there.
Known by whom?
Anyone who is reasonably informed