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Germany's conservatives sound the alarm over gold reserves in the U.S.
By Carlo Martuscelli
Politico, Washington
Monday, March 31, 2025
Can the United States be trusted with Germany's gold?
Its leader is trying to cripple the country's most important industry. His deputy thinks it's a pathetic freeloader. The man who has their ear is throwing what look a lot like Nazi salutes and openly interfering in its elections to support a far-right party that its own intelligence service thinks is a threat to the constitution.
... Dispatch continues below ...
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No wonder, then, that some politicians in Germany are worried that what was for decades seen as one of the world's most reliable storehouses might not be so secure after all.
Germany holds the world's second-largest gold reserves, and keeps 37% of them -- some 1,236 metric tons, worth E113 billion -- in the vaults of the New York Federal Reserve. Those holdings of precious metal guarantee that, should the need ever arise, the Bundesbank has access to something it can change into U.S. dollars (or any other hard currency). ...
... For the remainder of the report:
https://www.politico.eu/article/gold-germany-conservatives-sound-alarm-over-reserves-usa/
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