3d ago

Where’s the gold? Germany’s conservatives sound the alarm over reserves in the US

www.politico.eu

Where’s the gold? Germany’s conservatives sound the alarm over reserves in the US – POLITICO

Can the United States be trusted with Germany’s gold?

Its leader is trying to cripple the country’s most important industry. His deputy thinks it’s a pathetic freeloader. The man who has their ear is throwing what look a lot like Nazi salutes and openly interfering in its elections to support a far-right party that its own intelligence service thinks is a threat to the constitution.

No wonder, then, that some politicians in Germany are worried that what was for decades seen as one of the world’s most reliable storehouses might not be so secure after all.

17 comments

Something every gold bug knows "if you can't hold it you don't own it"
I hope they had insurance.

Most of the European Countries "safeguard" their Gold reserves in the USA, specifically in New York.
After the latest shenanigans all of the European gold should be returned , preferably under the authority of the ECB.

Are they serious ? The problem of non-existent US gold reserves is 70 years old. France cashed out in the sixties and the gold standard was abolished in 1971 because the US were defaulting on their own bills
- This article is about the German gold reserves, Not the US ones. Germany have Had some gold stored in New York during the cold war, Most of IT transfered Back to Germany in the begining 2000s. But some Portion remained. Every Country has some Form of their reserves stored within other countries (be it gold, prciuos Metals, USD). It's used as Backup or collateral for Trades between countries, in Case of a Default on either Side.
  
  Why do you capitalize seemingly random words? Is this a translation artifact or something?
- The gold is in your device.
  
  That doesn’t really drive its current price though. It’s a fetish for some people who have a problem with current monetary systems in general.
  
  The product of slavery is the device.

Germany and much of the so-called "free world" have been licking the United States' ass for almost a century. And now that the fragility of their democracy became obvious to see, it's time to wake up to reality.
- I never understood all the love for the US when I was younger, now as an adult with enough experience and cynicism it's clear it's all just very successful propaganda and the power of cultural hegemony.
  Europe was sitting very comfortably in the matrix of the US soft power, and good profitable business has been done for and with the wealthy class. But because life of average Joe was still pretty good, this ass licking arrangement looked like a great deal.
  Now the rules changed, and if we don't get our shit together real quick, we are also pretty fucked.

Can Germany all for its gold back? Assuming Hans Grüber's brother didn't get it first.
- Germany did move gold from New York to Germany a decade ago. It is certainly possible, but obviously takes some time to do right. There might be other brothers after all.
- It’s fine, they don’t allow dump trucks on the FDR

Would moving to the UK be an option? I remember they were a frequently used option by governments.

It is easier to buy and sell tons of gold if it is in one place. Then ut can be moved by moving paper.
The gold vaults are inventoried regularly.
Trump is a fool.
- All great, until he decides those bits of paper are worthless. Would that be an insane move that would destabilise the whole world economy? Yes. Does that mean he wont do it? I see no reason to assume that.
- Exactly, but given the current situation I am sure a lot of potential buyers would prefer the gold to be in a vault in Germany.

17 comments