Dutch central bank moves 86 tonnes of gold from US to UK, citing 'geopolitical unrest'
Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'
The Dutch central bank, De Nederlandsche Bank (DNB), has relocated 86 tonnes of gold from the US and Canada to London, citing increasing geopolitical unrest. The move, completed between March and August, aims to improve the deployability of reserves in a crisis, as London's gold market is deeper and more liquid. DNB's share of gold held in London rose from 18.1% to 32.1%, while holdings in the US and Canada each fell to 18.5%. The transfer combined physical transport and buy-sell transactions to spread risk.
We assume that we will never need to deploy the gold, but it is nevertheless necessary to strengthen our resilience and preparedness.
- teleforce
Earlier this year France has pull out their last remaining gold held in US amounting to 129 tonnes moved to Paris [1].
[1] France pulls last gold held in US (361 comments):
- inventor7777
Why did you modify the title to not include Canada?
According to the HN guidelines:
"Otherwise please use the original title, unless it is misleading or linkbait; don't editorialize."
- tristanj
The American Service-Members' Protection Act of 2002, also known as the "Hague Invasion Act", gives the President of the U.S. legal authority to invade the Netherlands to free detained U.S. service members imprisoned by the International Criminal Court.
https://en.wikipedia.org/wiki/American_Service-Members%27_Pr...
- bulbar
There has been voices in Germany to do the same. I assume they just need longer for the planning and/or coordinate their effort so not not everybody does it the same time, to avoid another tantrum from that orange grumpy man.
That's of course also why a little bit was taken out of Canada.
- jurmous
Location Before After Change
New York 31.3% 18.5% −12.8 pp
Ottawa 19.7% 18.5% −1.2 pp
London 18.1% 32.1% +14.0 pp
Zeist 30.8% 30.8% 0 pp
Seems it is mostly because there was less trust in the USA, and added a little bit from Canada to make it less obvious.