Germany and Italy faces calls to transfer their gold from New York after President Donald Trump’s starting reserve and increases in geopolitical reserence.
Fabio de Masi, a former Melke MEP involving the populist BSW population, speaking of financial periods with “strong arguments” for moving more GOLD in Europe or Germany “in rough times”.
Germany and Italy hold second and third largest national gold reserves after the US, with tons of 3,352 tons, according to Gold Gold Council data. Similarly dependent on the New York Federal Reserve in Manhattan as a carer, each savings more than one third of their bullion in the US. Among them, the gold saved in the US has market value more than $ 245bn, according to ft calculations.
Most of these are up to historical reasons but also showing the status of New York as one of the most important trading principals for gold, with London.
However the wrong trump behavior and more geopolitical trouble promotes a public debate about the issue of European parts. The president of United First month he can “force something” if the US Central Bank is less than borrowing costs.
In Germany, the idea of returning gold attracts support from both ends of the political spectrum.
Peter Gauweiler, a famous former Conservative MP from Christian social unity of Bavaria, which Bundesbank “should take care of gold reserves.
“We need to discuss the question if storage of gold abroad has become safer and stable in the last decade or not,” self-response with self-sufficiency in insecure.
The Association of European taxpayers sent letters to financial ministers in central financial centers in Germany and Italy, also encouraged to encourage their fed confidence as a custody for their gold.
“We’re very worried about Trump Tampering in Independence at the Federal Reserve Bank,” Michael Jäger, the President of Tae, said to Ft.
“Our recommendation is to bring home (German and Italian) gold at home to ensure banks of European central central with unlimited time control.”
Ahead of the Prime Minister of Italy Giorgia Moneloni in Washington to meet Trump in April Enrico Grozidiana:
art survey In more than 70 global central banks this week showed a lot of their gold in total concerns with access to their crisis.
Trust in European central banks in Fed as a gold custodian has long been a bone of conflict. Western European countries have gained a lot of gold reserves during economic boom for two decades after World War II, when they ran through US trading surpluses.
Up to 1971, the dollar converted to the central bank in the US under the Bretton Woods system in fixed exchanges. The storage of precious metal across the Atlantic is also seen as a hedge against a potential war in the Soviet Union.
France of MIA in the 1960s despite being transferred Most gold reserves outside of this in Paris, after President Charles de Gaulle lost faith in Bretton Woods system.
In Germany, a weed campaign “return our gold” from 2010 changed Bundesbank policy. In 2013, Central Bank in Germany decided to store half of its reserves at home, moving 674 tonnes of Frankfurt to a high security cost of € 7mn. Now, 37 percent of Bundesbank gold reserves are stored in New York.
“When we started ..
For Boehringer, the main argument that carries the house gold is not linked to the US current administration. “Ang bulawan usa ka asset sa katapusan nga resort alang sa mga sentral nga mga bangko, ug busa kinahanglan nga kini gitipigan nga wala’y peligro sa ikatulo nga partido,” pagdugang nga sa mga panahon sa grabe nga pag-antus, “dili lamang kini ligal nga pagpanag-iya,” dili lamang kini ligal nga pagpanag-iya, “dili lamang kini ligal nga pagpanag-iya,” dili lamang kini ligal nga pagpanag-iya, “dili lamang kini ligal nga pagpanag-iya,” dili lamang kini ligal nga pagpanag-iya, “dili lamang kini ligal nga pagpanag-iya,” dili lamang kini ligal nga pagpanag-iya, “dili lamang kini ligal nga pagpanag-iya,” dili lamang kini ligal nga pagpanag-iya, “nga nagdugang nga ligal nga panag-iya,” nga nagdugang nga ligal nga panag-iya, “nga nagdugang nga ligal nga panag-iya,” nga nagdugang nga ligal nga panag-iya, “nga nagdugang nga ligal nga panag-iya,” dili lamang kini ligal nga pagpanag-iya, “dili lamang It is legal possession, “increasing legal possession,” not only is it legal ownership but control of gold importance “.
In 2019 in Italy, the distant brothers in the Italian party, if still in opposition, lobbing returning to gold reserves. Meloni promised to bring gold Italian gold if his party had power.
However, since retrieving the premierlip in late 2022, Moneli was silent on the subject. He wants to keep a friendly Trump relationship while undermining the threat of a deeper trading war.
Fabio Rampelli, a brother of the Parliament of Italy, says that the present party stance is that “geographic location” only in the custody of “a historic friend and allies”.
German Bert Flossbach investment veteran, co-founder of the largest independent asset manager Flostbach Von Storch, produces a similar argument with a signal to send a signal with a US relationship signal. “
The Bundesbank said a statement that it “often practiced storage locations for gold rods opened with securities or also of the currencies to sell or need to sell”.
It emphasizes that New York Fed remains “an important storage site” for German Gold, “We have no doubt that New York Fed is a reliable reserve of our gold.”
The Bank of Italy, Moneli Office and Ministry Ministry in Berlin refused to comment.
