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.

  • FlashMobOfOne@lemmy.worldEnglish
    6·
    17 hours ago

    It’s wild to consider it, but we may be.

    The massive escalation in tactics over the last month tells me that the US’ finances may be significantly worse than we know, with the desperation to seize mineral resources, even in the knowledge that diplomatic cooperation could achieve the same ends.

    • Fluffy Kitty Cat@slrpnk.netEnglish
      1·
      3 hours ago

      I don’t know what there is that we wouldn’t know, unless smart economists have been quietly panicking over some academic reason to be afraid for the stability of the US and are confident in their predictions