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.
Emanuel Mönch, a leading economist and former head of research at Germany’s federal bank, the Bundesbank, called for the gold to be brought home, saying it was too “risky” for it to be kept in the US under the current administration.
Friedrich Merz is too much of a coward to do anything remotely courageous like that.
HAHAHA they still think its there. Wasn’t it about a decade ago Germany wanted to see it and America said no.
“OUR GOLD, at this time of year, at this time of day, localized entirely to your vaults?”
“Yes!”
“Can I see it?”
“No.”
And now!?!!?! Of all times, they should have done it on Biden’s presidency. Does anyone believe Trump will just agree like that. The guy is going to use it as hostage.
The U.S is definitely gonna steal that gold
Dear Friedrich:
Considering your Country decided not to join my Great Board of Peace, the greatest Global institition for Peace ever, I no longer feel any obligation to hand over your gold reserves, which by the way would look much better in my Ballroom anyway, which will be the most prestigious and BIGGEST Ballroom there ever was in History.
Germany cannot protect that Gold from Russia or China and there are no written documents, it’s only that some guy with a funny accent delivered some gold a while ago and we kept it so why do you have a “right of ownership” anyway?
I have done more for Gold than any other person since it was invented, like thousands of years ago, and now, GOLD should do something for me.
Thank you for your attention to this matter!
President DJT
I hate how realistic that sounds
Way too coherent and too little self-sidetracking to originate from Don Cheeto.
“THANK YOU FOR YOUR ATTENTION TO THIS IMPORTANT MATTER. Covfefe.”
I want to see him try that. The moment he puts his filthy hands on someone else’s gold, the dollar will collapse. No ifs, no buts, the moment he tries to steal part of the gold he has stored there, everyone will want their gold back and, while at it, they’ll cash any bonds they have.
If you can’t trust that country to mantain such important agreements, you can’t trust it with anything. He’ll bankrupt the country in no time.
You seem to be under the impression he care’s about America or it’s economy.
He only cares about appearances. If they have an opening where they can spin it to a positive, they will take all the gold.
it is hard to find now because of this storey but I swear there was a story about a decade ago that the US did not allow Germany to see their gold.
They asked, and were refused, in 2012 according to this article: https://www.firstpost.com/explainers/germany-gold-reserves-us-storage-repatriation-concerns-13878824.html
Heck, it wasn’t even a Republican government at the time. That gold is gone.
The regime’s been hinting at wanting to change the gold price to try and help the freefalling debt crisis…
They can (legally) simply revalue the gold in stock by declaring it to have a new arbitrary value, but hold a provision for international customers and declare they did not deposit in weight value but in gold value at the date of entry… which will rob them of any of the current price increase… So trump will tell Germany “you deposited $30 million before 1970, you get $30 million back from us now.”
Yes…but that obese child rapist is a narcissistic imbecile who can’t understand the basics. Plus he is probably too far gone with dementia to understand even if he wanted to.
What gold ?
Not only have we never seen your gold, Dear Leader is now several billion dollars’ worth of gold richer. Coincidentally
The gold was kept in New York because of fears it might be seized by the Soviet Union during the Cold War. I guess Russia is not as problematic now as the former ally.
Trump hid it particularly well. He melted down the gold bars to hang them as picture frames and other knick-knacks in the new ballroom. Thank you, Donald, for hiding the German gold so safely.
Good idea, but might have to come in like France did in 1971 (they rolled up to NY harbor in a destroyer). For some reason I don’t think it’ll work like it worked for de Gaulle.
WTF happened in 1971‽‽
Nixon fucked the world through the dollar.
In short, the world is paying the US to fuck around, since Bretton Woods replaced gold with the the USD, meaning that the US gets unlimited money while they get to spread their inflationary pressure around the world.
Charles de Gaulle, president of France at the time wasn’t as stupid as most world leaders, and ended up preserving at least some semblance of fiscal independence by smuggling the French gold back from the US.
One way of looking at it is that we literally cannot afford war. I mean moneywise. Nixon removed the dollar from the gold standard in order to finance the Vietnam war, which the US lost in the military sense but won in the sense of the military industry making a whole lot of money. Literally more money than was even possible.
Damn. Not just one interrobang, but two?
Everyone should do this. Trump has sticky fingers, and it is inevitable for them to wander to places unwanted.
Huh, TIL that Germany has such a big gold reserve - 75+% - and stores half of it abroad. Most of that half in the US 🤦
The Eurozone’s gold reserves are much larger btw.
Doo itt!!!
Well I’m sure the dollop of fermented meat in charge won’t try something as someone takes back his favourite coloured metal
I hope there is some of Germany’s gold left. If not, at least grab a wall sconce on your way out.
American Jew here… Toss your witcher some reparations coin? Or am I thinking of the Swiss?
