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Dutch central bank moves share of gold from U.S., Canada to London
- jmclnx 2mo agoThis shows how much trust in the US has declined due to Trump. Netherlands is not the only or first country to do this, other countries have started this too.
- mikewarot 2mo ago[flagged]
- watwut 2mo agoIt is result of long term conservative project. And somehow you managed to blame non-conservatives for it. Trump is a cause of destruction. He is literally making those decisions. He is to blame. Trump and project 2025 are what republicans and conservatives were trying to achieve for years and years. Again, it hapened intentionally. But noooooo, must blame Obama. Anyone except directly responsable organizations and people.
- mikewarot 2mo agoThere are always insane people waiting with a plan, its the job of government, and politicians to keep them at bay. [1,2] [1] https://en.wikipedia.org/wiki/Business_Plot https://en.wikipedia.org/wiki/Business_Plot [2] https://en.wikipedia.org/wiki/Operation_Northwoods https://en.wikipedia.org/wiki/Operation_Northwoods
- watwut 2mo agoPeople pushing for project 2025 are conservative politicians and republicans. They were in government the whole time. And they were in government because conservatives and republicans want that plan. They are not some kind of insane people outside of politics and government. They are literally the republican party.
- mikewarot 2mo agoI get that the Project 2025 is an evil plot, but that's missing the existing duopoly that allows the Donor class, and their alliances, both foreign and domestic, to override the will of the people. Even if every single Republican got voted out, the rot is still there, just wearing the other hat.
- graemep 2mo agoInteresting. I am always suspicious of "great man" explanations of history and the same applies to current events - not that individual choices do not matter, but they are constrained and influenced by bigger social forces. Something similar happened in the UK, as the major parties moved towards a consensus as they both went after critical centrist voters (because the left and right voters were not going anywhere else - at the time anyway).
- appleappleapple 2mo agoAnd this lost trust will not suddenly reappear when he leaves office. He has damaged our reputation for a generation
- kingleopold 2mo agoNo it's not simple to call "he" did this. WH people, half? of the country supporting him for 2nd time, and wealthy people that donated so much too, it's never "he". Nothing big like that is one persons responsibility. Actions have cons. ? All elected and supported, especially AFTER how he and his supports lead the so many extra deaths in covid. I know your media does not bring facts but truth is out there.
- andsoitis 2mo agoVoters cannot be held accountable for all the specific things the person they elected do. That much should be self-evident.
- deleted 2mo ago[deleted]
- dhosek 2mo agoHe’s doing exactly what he said he would do when he ran. People who voted for him can very much be held accountable.
- AnimalMuppet 2mo agoWhen he ran, did he say that he'd make tariff rates bounce around like a kangaroo on speed? No, I don't think he did. Did he say that he'd threaten to annex Canada and Greenland? Not that I recall. Did he say that he'd start a war with Iran? No, I'm pretty sure he said "No new wars." Look, he's a loose cannon. Everyone who voted for him should have known that. But no, he's not doing "exactly what he said he would do when he ran". Some of what he's doing is what he said, and some is completely contradictory to what he said. (Credit where due: I stole the "kangaroo on speed" line from an unpublished short story. Don't remember the author, or I'd give them credit by name.)
- retired 2mo agoIn the end it is all about money. Putin killed hundreds of EU citizens and we are still buying his gas, oil, uranium and fertilizer. Trump can bomb cities in Europe and we would trade with the US. I doubt we will ever fully separate from the US.
- pvaldes 2mo ago> Trump can bomb cities in Europe and we would trade with the US This is the same level of delusion that: And Iran will never dare to close the strait.
- kaon_2 2mo agoIt may be quirky for Americans to hear this, but one pivotal moment when it truly dawned on the average european citizen how corrupt the US has become, was when Trump phoned Infantino to drop a red card during the world cup. Blatant corruption for zero gain that even the Putin's and Xi Jin Pings never attempted. Any toddler could see how wrong it was and it was felt deeply in many hearts. Needless to say trust is close to 0% throughout the population - even the right wing populists distance themselves from Trump - and this is the consequence. I fear we are heading into dangerous times.
- lemoncookiechip 2mo agoUnironically true. The average person could care less about following politics, but Europeans live football.
- vman81 2mo ago> The average person could care less about following politics Could they?
- dododore 2mo ago[dead]
- SAI_Peregrinus 2mo agoIf they isolated themselves from all news, social media, and lived as a hermit, yes. They could care less, but it'd be difficult.
- GJim 2mo ago> could care less Surely you mean couldn't care less.
- ButlerianJihad 2mo agoWell, I could care less, personally. I wish I did care less!
- andsoitis 2mo ago> “A more equal spread of the gold supply between North America, the United Kingdom, and the U.S. also helps to spread the risk.” They’re not exiting all the gold held in North America; instead they’re rebalancing so that for more resilience against a backdrop of increased geopolitical risk.
- consp 2mo agoNo, but "removing" around half of it from one place is quite a bit. Though I doubt any single physical kg ever moved more than a few meters to the buying countries vault. edit: They physically moved 27 tons, the rest was traded away and bought again in London.
- deleted 2mo ago[deleted]
- jbverschoor 2mo agoCan’t move what isn’t there
- TheRealPomax 2mo agoThat's the fun thing about gold. It's literal gold, not numbers on a spreadsheet. Moving it really means moving it: bars are stamped and owned, and if the owner wants to move them, those bars need to get transported to wherever the owner says they should be. It's also the idiotic thing about gold, a metal that has no more or less inherent monetary value than a fiat currency =)
- lotsofpulp 2mo agoThat is the non idiotic thing about gold, since it is not fiat, is not easy to produce, and it is easy to verify, it can be used as a currency in less stable times/places. It’s a redundancy. Perhaps bitcoin satisfies many of these properties without the high costs to secure and move gold, but it needs electricity and a network? https://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years https://www.macrotrends.net/1335/dollar-vs-gold-comparison-l...
- dododore 2mo ago[dead]
- expedition32 2mo ago[flagged]
- consp 2mo agoIt's the 11th largest in the world, or about 7.5% of the US reserves which is a lot more than the gdp difference (4.4%)
- downrightmike 2mo agoI think fort knox has long been pillaged
- josefritzishere 2mo agoIs this to prevent the Orange man from stealing it? What do they imagine the risk is?
- consp 2mo agoStated in another article it said the reason is it cannot be used as a bargaining chip during trade disputes. They specifically mentioned it would likely be more difficult to use in emergency situations when located in North America (without mentioning specific reasons).
- deleted 2mo ago[deleted]
- ben_w 2mo agoWell, one of their near neighbouring countries is currently worried about Trump stealing their territory, and he's made threats to annex Canada too, so it's not exactly an unreasonable fear.
- weatherlite 2mo agoTheir national color is orange so they should get along with him fine
- midasz 2mo agoAmerica first. The Netherlands, second?
- dukeyukey 2mo agoWould you put it past Trump to use gold stores as a threat?
- insane_dreamer 2mo agothe orange man is so unstable that the specific risk is a known unknown
- maxdo 2mo agoJust in time before major European continental war begin. Strategic move. For the context : German airport was officially attacked by Russia . And that’s only one of many incidents. UK is on the radar of official Russian hawks for a very long time
- bell-cot 2mo ago> For the context: Comparing that German airport "attack" by Russia to the 9/11 attack by Mr. bin Laden - would you say that all gold reserves should have been moved out of the USA back in 2001?
- jabroni_salad 2mo agoLooking at TFA, they are moving it to a venue where selling off the gold can happen quickly. This kind of thing was not necessary for the USA's approach to funding the War on Terror because we decided on a really innovative combo of Taking On Debt and also Just Not Accounting For Things which will surely have no consequence later on.
- ben_w 2mo agoMore a vs. US strategy than a vs. Russia strategy. Russia has been weird for a long time, they are doing sub-threshold-of-war attacks for a while now. But the USA? Outright threatening allies, talking about annexing some of them, making more threats against other allies who make moves to defend those allies? And he's got a known love for gold, started wars without bothering to inform allies he's now trying to punish for failing to provide help that he told them he didn't even want.
- Muromec 2mo agoUS is doing now to Europe and Canada what russia was doing for the last 30 (or 300) years to their neighbours. No response -- push further is the game
- kakacik 2mo agoYeah russia has been waging war against the west basically since putin came into power. That paranoid kgb fuck sees anything free as direct threat to their model of how to run a dictatorship and very much a personal threat on top of that (he may not be completely wrong given how proactive cia has been and their general methods of subversion). Divide and conquer, subvert EU and produce infighting on some emotional topics with ideal goal of breakup to pick countries one by one, subvert US to focus more inward and stop policing the world, ideally weaking it long term. This is nothing new for anybody interested in the topic, its all very open and public (which is kind of the point I guess to manipulate public perception too). Every single secret service know this as 101 reality. In same way ie war in Ukraine started in 2014 in all measurable ways, not 2022. US part... well its painful to watch, especially the incompetence or elephant-in-porcelain-shop part, of a shop that took many decades to build. But its good long term for Europe and rest of west - we became uber weak and over-reliant on US bases, their tech and power projection, and even if its 2026, influence not backed by real power means very little in actual world out there. Be provably strong or vanish seems to be mantra. Its smart to adapt to reality rather than expect the world to rearrange itself to some idealistic wishful thinking, however nice it may feel and however well it may have worked during easy peaceful times.
- nfrankel 2mo agoFun fact, France did exactly the same earlier this year (though the trend has been there for decades). [1] https://en.wikipedia.org/wiki/Gold_repatriation#France https://en.wikipedia.org/wiki/Gold_repatriation#France
- petre 2mo agoFrance made an even a smarter move as it sold its reserves in the US and bought higher purity gold locally.
- stpedgwdgfhgdd 2mo agoNl sold some part as well
- benj111 2mo agoNI? Not Northern Ireland...
- nuthje 2mo agoNL, Netherlands
- pseudohadamard 2mo agoOh, what sad times are these when passing ruffians can say NI at will to old ladies. There is a pestilence upon this land, nothing is sacred.
- newtwentysix 2mo agowow! that would have saved some shipping expenses ?
- crote 2mo agoThat's also what mostly happened in this case. 59 tonnes was sold in the US and bought back in London, 27 tonnes was physically transferred from the US to The Netherlands, and 27 tonnes was physically transferred from The Netherlands to London.
- adolph 2mo agoAnother interesting aspect to this story is the flow of value from US Treasuries to gold. Total gold held by central banks globally was valued at approximately $4tr at the start of 2026, surpassing, for the first time, the roughly $3.9tr in US Treasuries held by the same institutions. This marked a reordering of reserve asset preferences with significant long-term implications. [0] 0. https://www.investing.com/analysis/why-central-banks-are-bringing-gold-home-again-200678403 https://www.investing.com/analysis/why-central-banks-are-bri...
- bix6 2mo agoWhat are the long term implications? Gold can’t reasonably be the medium so new currency baskets?
- megagpt3 2mo agoImplications are on the treasury side. Without treasury buyers the US dollar collapses or hyperinflates or the US government is bankrupt or some other widespread system failure, in any case the entire US economy falls apart without treasury buyers. But these things move slowly.
- bix6 2mo agoBot?
- roromainmain 2mo agoConsidering the Netherlands’ strategic ties with the US, this sounds like quite a bold move. France doing so was one thing, but the Dutchs have always been rather Atlanticists.
- Deukhoofd 2mo agoFor what it's worth, the Dutch Central Bank argues that this is simply because it'd be easier to sell in London in a crisis situation. They've previously stated to be far more worried about the dependency on VISA and MasterCard than the gold reserves in the US. https://nos.nl/artikel/2560460-dnb-maakt-zich-zorgen-over-amerikaanse-invloed-op-pinbetalingen https://nos.nl/artikel/2560460-dnb-maakt-zich-zorgen-over-am...
- 1attice 2mo agoThey are also consummate antifascists, which I suppose is in tension now with atlanticism
- Rover222 2mo agoThey're still hoping to get back New York City some day.
- stpedgwdgfhgdd 2mo agoThat was indeed the case
- ozim 2mo agoWell they had to because UK across the Northern Sea was their competition and so France just below, while having Germans next door and Spain not being an ally. Did I mention they are bunch of tall assholes anyways?
- bithammerthunde 2mo ago> strategic ties with the US Yeah, that isn't really a thing anymore.
- MadrasThorn 2mo agoEveryone now has to hedge against the dollar because Elon, bank run Thiel, and Trump have taken over the system. I will not get better until they are removed. It is not in their interest to save the federal government, US dollar, or the economy. They are all BRIICS backed and want the dollar and trans atlanticism, backed by the US military, to fail.
- Rover222 2mo agoWhat do you even mean by 'removing' Elon from 'the system'?
- y-c-o-m-b 2mo ago> It is not in their interest to save the federal government, US dollar, or the economy. I think "save" is not even in the room with us; they seem to be actively harming every industry: farming, food, oil, electronics, manufacturing, healthcare, etc. It's a full on assault. "Never attribute to malice that which is adequately explained by stupidity", but in this case we're dealing with malicious actors and it's apparent these are malicious actions. DOGE was just the first step. At first I thought they were trying to establish something that looked closer to Russia, where they can make life just hard enough for them to keep accumulating wealth indefinitely. Now I'm worried they're going for something that resembles Africa's poorest nations, where we fight amongst ourselves over resources that are increasingly constrained.
- MadrasThorn 2mo agoThiel himself said he wants to turn the US into a Weimar republic
- megagpt3 2mo agoSadly nobody is hedging against the dollar
- Nathanael_M 2mo agoLiterally moves? Physically moves? Come on, doesn't this make your hands itch? Is it heist time folks?
- jsiepkes 2mo agoIt's in the article; They sold gold in NYC and with that money bought gold in London.
- mapleoin 2mo agoBut how did they move the money between NYC and London?
- sprremix 2mo agoThe article also mentions a physical movement: "A total of more than 27 tonnes of gold was physically transferred from the locations in North America to DNB Cash Centre in Zeist, Utrecht, between March and August. Another 59 tonnes of gold kept in New York was also sold off during this time, while the equivalent amount of gold was purchased in London." They do not explain _how_ it was moved, though.
- lostmsu 2mo agoWho bought it?
- hd4 2mo agohttps://www.theguardian.com/business/2026/jan/06/bank-of-england-venezuelan-gold-nicolas-maduro-us-uk https://www.theguardian.com/business/2026/jan/06/bank-of-eng...
- scottLobster 2mo agoOne of the crazier ideas to address the deficit is revaluing gold reserves and throwing them at the deficit. Does anyone really think the Trump admin wouldn't consider seizing foreign gold reserves as part of such a move? I know that instinctively sounds crazy, but this administration attacked Iran without a plan for their closing the Strait of Hormuz, and tariffed uninhabited islands based on an AI-generated list. They're rational, but they're aggressive and dumb. Treat them as you would treat a guy who starts bar fights; one strategy is quietly moving to the far side of the bar, which is what this appears to be.
- midasz 2mo ago> Does anyone really think the Trump admin wouldn't consider seizing foreign gold reserves as part of such a move? There has to be an adult in the room there to tell them this is a really bad idea. I mean I didn't think Putin would invade Ukraine so my track record is iffy but there's a reason the Belgians refuse to use Russian frozen assets - no one would ever put money there ever again. That'd be the end of their banking sector basically.
- scottLobster 2mo agoIf we've learned anything from the last year, any such adult won't be listened to. Trump's a bully, he feels that America should use whatever hard power it has to enforce its interest and damn the soft power or the 2nd order effects that the "adults" care about. He also feels that Europe is or should be America's vassal, and is annoyed that they don't go along with his every whim. Seizing gold reserves would likely be an easy way to bring an uppity vassal to heel in his mind. The long term ramifications won't even be considered.
- jurmous 2mo agoLocation 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.
- MentatOnMelange 2mo agohttps://www.kitco.com/news/article/2025-02-11/unseen-forces-moving-lot-gold-back-us-whats-really-happening-josh-phair https://www.kitco.com/news/article/2025-02-11/unseen-forces-... A year ago the opposite was being reported on. No clue of the relative numbers, but its telling none of the stories about this are providing the long-term data.
- Havoc 2mo agoHedging against US risk is definitely sensible right now