Fabio De Masi, a former Die Linke MEP who joined the leftwing populist BSW party, told the Financial Times that there were “strong arguments” for relocating more gold to Europe or Germany “in turbulent times”.
Germany and Italy hold the world’s second- and third-largest national gold reserves after the US, with reserves of 3,352 tonnes and 2,452 tonnes, respectively, according to World Gold Council data. Both rely heavily on the New York Federal Reserve in Manhattan as a custodian, each storing more than a third of their bullion in the US. Between them, the gold stored in the US has a market value of more than $245bn, according to FT calculations.
Can't think of any better timing for this when US might be involved in a long war with Iran. I think Europe tongue in check is trying to uphold that US strikes on Iran and tariff wars against EU were both unnecessary. What do you think of these developments? How much can these affect America?
probably nothing