13h ago

Germany may look to withdraw its gold from US

14 comments

It's not there. The German's wanted to check on their gold in 2007 and were denied access to the vaults. In 2011 they were allowed access to only 1 of the 9 compartments where Germany's gold is stored.
If it's really there, why would you not show it?
However both the Netherlands and Germany have already withdrawn about 270 tons of gold around 2015. But Germany still has over a 1000 tons in Manhattan.

Let's see if it's still there
- It's still there .... it's not hard to paint iron bars a shiny gold colour

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*

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.

Trump may echo Nixon, iirc, breaking trust in such systems. Anybody know, can he try to stop them withdrawing? What about China, Japan, others ...?

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.

14 comments