Statecraft With Geeta Mohan: Is Europe Taking Its Gold Away From Trump’s America?
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Slate.frAmong the places chosen to transfer this gold is the Bank of England in London. It holds nearly 400,000 ingots, making it one of the most
Statecraft With Geeta Mohan: Is Europe Taking Its Gold Away From Trump’s America?
Is Europe quietly taking its gold away from America under Donald Trump? The Netherlands has moved around 86 tonnes of gold away from North America, with a significant share now held in London. Officially, the Dutch central bank says the move is about crisis preparedness, improving the tradability of its reserves and reducing concentration risk. But the timing has raised bigger questions about Europe’s trust in the United States.
Tensions in global financial markets. Several central banks in Europe have begun bringing their gold reserves back from overseas. Changing security strategies and fears of sanctions or political blockages are accelerating the repatriation of bullion.
After Paris, it is Amsterdam's turn to diversify its gold reserves. The mistrust of Washington's traditional allies could participate in the movement to challenge US domination if other continents associated themselves with it.
According to the statement, about 86 tons of the approximately 313 tons stored in the United States and Canada were moved to London "in view of the growing geopolitical instability".
The Netherlands has just transferred 86 tons of gold from the US and Canada to London, and similar moves have been made in recent years by other European countries. Are the states expecting a new economic crisis? Not necessarily -- but they're clearly gearing up for a world where the safety of reserves has once again become a matter of strategy. Gold is coming home. The Netherlands has just [...] The article Europe Returns Gold Across the Atlant…
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