Shift in relations and unpredictability of Donald Trump make it ‘risky to store so much gold in the US’, say experts

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.

  • RidderSport@feddit.orgEnglish
    6·
    17 hours ago

    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

    • plyth@feddit.orgEnglish
      21·
      11 hours ago

      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:

      While West Germany agreed not to purchase gold from the U.S., and agreed to hold dollars instead,

      https://en.wikipedia.org/wiki/Bretton_Woods_system