Netherlands pulls gold from US and Canada over 'geopolitical unrest'
Netherlands pulls gold out of the US for fears of 'geopolitical unrest'
The Dutch central bank has moved 86 tonnes of gold from the US and Canada to London and the Netherlands, citing 'crisis preparedness' amid growing geopolitical tensions. Experts link the move to distrust of the Trump administration, which has threatened allies and questioned the Federal Reserve's independence. The relocation, completed between March and August, aims to ensure reserves are more readily tradable in a crisis. This follows similar actions by France and Germany, reflecting a broader European shift toward financial independence.
That's absolutely a reflection of the catastrophic loss of trust in the United States in Europe.
- prymitive
The funny thing is that with $40T of public dept US is basically taking money from other countries (in exchange for a pice of paper saying IOU) and then using that money to force these countries to do what’s in US best interests (real or perceived).
And the bigger that pile of debt is the more every government is invested in us not going bankrupt, hence the leverage just gets stronger.
US is basically a private equity typo of global power - getting others to lend them a knife it stabs them in the back.
- rsanek
For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades:
Month Book value ($M) Tonnes
July 2006 8,967 6,606
July 2011 8,412 6,197
July 2016 7,883 5,807
July 2021 7,794 5,742
July 2026 7,812 5,755
The linked report is talking about a change of 1.5% from the latest-reported total amount in tonnes.
- clort
Interestingly, 59 tonnes of gold was sold in USA and bought in London. So that means perhaps "Somebody" transferred 59 tonnes of their gold holdings to the USA.. who was that?
This is similar to what the French did last year.
The other thing I noticed, is that as the article chose to mention:
> Gold that is held with the Bank of England must meet modern international trade standards
with implication being that the gold it previously held in the USA was not meeting those standards, but is that just journalistic fluff? what are those standards? (could be exact weights in g rather than purity?)
NB the Netherlands still has >200 tonnes of gold held in the USA & Canada.
- tim333
Gotta prepare for the US vs Europe war over Greenland!
see:
>“Considering your Country decided not to give me the Nobel Peace Prize for having stopped 8 Wars PLUS, I no longer feel an obligation to think purely of Peace,” he wrote, adding that the US needed “complete and total control” of Greenland.
not quite sure what's up with this timeline.
- gregw2
This is all about Greenland and reducing leverage Trump might wield to get it, right?
They can't say that, it just gets them into a pissing match with Trump and what good is that but it's not hard to read between the lines.
I also do wonder if the Netherlands knows anything more about CozyBear/FancyBear and the 2016 election than they've let on. ( https://www.aspistrategist.org.au/rare-insight-cyber-espiona... )
- thelastgallon
https://news.ycombinator.com/item?id=49573455
Why are European countries moving their gold out of North America?
- ivolimmen
I am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.
- obtainr
The run up in gold last year was due to need for US to obtain enough gold to cover these foreign transfers.