Riddick3001@lemmy.world to

Europe@feddit.orgEnglish · 2 days ago

‘Repatriate the gold’: German economists advise withdrawal from US vaults

www.theguardian.com

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‘Repatriate the gold’: German economists advise withdrawal from US vaults

www.theguardian.com

Riddick3001@lemmy.world to

Europe@feddit.orgEnglish · 2 days ago

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.

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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

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