Fanciful to believe that the gold still exists much less someone handing it over. It’s gone, mang.
Trump may echo Nixon, iirc, breaking trust in such systems. Anybody know, can he try to stop them withdrawing? What about China, Japan, others …?
Let’s see if it’s still there
It’s still there … it’s not hard to paint iron bars a shiny gold colour
That’s why they melt it down. If it’s pure they can just re-cast them.
Ha. Y’all think it is actually there?
There is a reason trump kept talking about wanting to go to fort knox to make sure the gold was still there. ANYTHING a fascist says is projection.
Probably a safe bet. Better get it before Trump raids the coffers and presses it into express lane passes for his eponymous golf and country club wing of the White House with his fucking face on them.
the covfefers*
Bless u
That’s a lot of toilets.
Why are they storing it there ? easier to sell it when need to ?
I’d expect it’s a Cold War thing. When Germany (or West Germany, at the time) was concerned that it could be the frontline of WW3 at any moment, it probably wanted somewhere to keep its gold reserves that wouldn’t be captured. The current German gold reserve is the second largest of any in the world, so on the assumption that at least most of that was from West Germany then it’d be a huge thing to capture in the event of war. If it could magically all be sold at the current London gold fix price, it’d be worth well over 300 billion USD
I think this is not correct. This gold was never on German soil. It is the result of trade surplus of sold goods, exchanged from USD to gold.
What you say is true however for German gold in England and at one point France.
That’s really interesting. So what you’re saying is, Germany sold more to the states than they bought, but the states were able to “keep” the money by marking off that Germany had so much gold.
And I guess now, Germany is concerned that the states may no longer honour that ledger.
Germany can’t be more concerned than before. I expect that the publicity is a chip in the current trade negotiations that must be happening after Trump announced the tariffs.
How would that work exactly? Trade surplus is just an accounting balance. It’s the difference between what US importers paid for German goods and what German importers paid for US goods. The money went to the companies involved, how would it be used to buy gold for the German state?
It’s mostly a result of Bretton-Woods. Countries with a trade deficit had to pay those with a surplus -mostly in gold. And because shipping gold is expensive, that gold stayed in the USA. The German central bank had 24 tons in 1950 but 4000 tons by 1951.
Interesting, didn’t know that about Bretton-Woods (or probably forgot), thanks for the info!
You store gold reserves at banking/trading/stock exchange hubs, so that it can be easily exchanged for foreign currencies - especially without actually moving it. This way you have access to funds in case your own currency is in trouble (e.g. your country is at war).
Just don’t ask us where it’s from…
Trade surplus from sold goods.
What would actually happen if it wasn’t there anymore?
America as a nation would plummet in international relations, politics, trust, banking, markets and consequently in business, trade and economic value like nothing you have seen before. Everything from America would be dirt cheap globally because nobody would want it. Everything inside America would be catastrophically more expensive because the American dollar can no longer buy shit. Germany and everybody else would want their gold or corresponding amount of money but America would be so much in the red by now that even the one percent would experience the ramifications.
So, a typical Monday?
Thanks for the explanation, let’s see how this plays out
AHAHAHAHAHAHAHAHAH
You think they’ll give it back?
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
Should’ve done it sooner
Stocks, gold, bonds, library books, people - everything must be immediately divested or moved beyond the grasping hands of the Trump Regime, else they will be stolen or annihilated.
Why is it there to begin with?
Removed by mod
Germany has withdrawn 674 metric Tons from america. Half of germans Gold is in germany 36% is still in the US, the rest in UK.
Germany has melted about 55 tons from New York to test its purity.
