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

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.

  • gnutrino@programming.devEnglish
    53·
    16 hours ago

    Pretty much, yes. But don’t worry, it’s not like Trump passed massive tax cuts in his last term that have left the US over leveraged with >100% of GDP in debt and a $1.6T deficit or anything that leaves the US particularly vulnerable to bond sell offs.

    What’s that? Oh. Well at least there isn’t some sort of financial bubble waiting to burst and take the economy with it at the same time.

    Sorry, hang on a second, just getting some news through… Oh. Oh dear. Oh well, it was nice while it lasted. Well, it was sort of OK for bits of it anyway.