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I don’t think this is correct. This is about German politics. Their central bank has been attempting to repatriate gold since 2013 in an effort to centralize th
by ascotan 6mo ago
I don’t think this is correct. This is about German politics. Their central bank has been attempting to repatriate gold since 2013 in an effort to centralize their holdings. It’s also not just about the US. In theory, Germany could move all its gold holdings to Switzerland. Where there is a major trading hub. The fact that they want it back in the country is domestic politics.
- im3w1l 6mo agoEverything that happens in politics happens because someone managed to assemble a powerful enough coalition. Maybe some people wanted to repatriate gold before, but not enough to make it happen. Now suddenly, there are enough people.
- nkmnz 6mo agoI don't think so. Most Germans would be okay with having the gold transferred to Canada or Switzerland or the UK.
- seb1204 6mo agoFrance just did that and even made some gains. Was in HN today as well. Germany has lost it, no farsightedness or longer plan. So frustrating how the German gov is failing on these longer term issues and are ground up in day-to-day noise. Flood the zone with shit comes to mind.
- FabHK 6mo ago> France just did that and even made some gains. That was purely an accounting gain (because of selling that gold and buying it back). After realising this PnL the gold is now held at a much higher cost basis.