Is Germany's gold safe in New York ?

jjgreen

Not really "should Germany move it?", rather "can Germany move it?"

PowerElectronix

The fact that this question needs asking tells a lot about how other countries see the current administration.

0x3f

Not really Trump-specific is it, given Europe seized a ton of Russian assets. Maybe they just realized how easy that was and that nobody is going to war over it.

dingdingdang

Having your stuff stored in another country is ultimately a voucher of confidence, I can't see Trump or anyone else willingly misusing that trust. I do think the Western leaders need to temper their tendencies for isolationism these days, what's the alternative guys? And why even think that other people/cultures will want you in their swimming-pool if you can't keep your own one clean/functional? (this comment also covers France recently bringing home their gold)

apples_oranges

I want America to go back to being as it was before

bighead1

You could replace the word Germany with the US and this article would still make sense.

SanjayMehta

Charles de Gaulle warned of French gold deposits being at risk, his successor sent French warships to recover French gold. That was decades ago. I think the question is moot now. Update: corrected a bit of history.

MagicMoonlight

It’s brave to assume the gold is still there. Nobody checks it; last time they did, a bunch of bars were made of tungsten. If you’re someone guarding the gold, you’d have to be stupid not to replace it with tungsten. A single bar is a lifetime of wages. It’s not like anyone will ever notice, it’s a reserve that will never be spent.

fredgrott

its the wrong question! The question should why has not Germany pulled gold out to server two goals: 1. Financial gain 2. another step towards economic independence from USA France already did the right thing.... Pay attention, as it does not hurt the world and economic system for multiple world reserve currencies to exist....EU might as be a reserve currency.

KellyCriterion

isnt the question more like: "Is it _still_ there?" :-))

devsda

Probably safe as long as Germany is amenable to supporting "American interests" which can be anything and everything as decided by a human RNG they choose to elect.

jbverschoor

It wasn’t safe in the 70s lol

fmajid

Of course not. That's why Charles de Gaulle repatriated French gold from the New York Fed in the 1960s. Before Trump, there was Nixon, the US has form in reneging on its commitments. It seems there are still 138 tons of gold left over that will be recovered by 2028: https://www.mining.com/france-pulls-last-gold-held-in-us-for...

jmyeet

We don't even need to theorize how this can go wrong. We've got a real example: the French CFA system that is used to do economic colonialism in West Africa [1]. Basically, it works like this: 14 French-speaking Africian former colonies keep significant (>50%) of their gold reserves with the French treasury and use the CFA Franc as a currency, which is pegged to the Euro. The colonial model is one of discouraging or even outright banning being self-sufficient. Crops that might otherwise feed the local populace are replaced to exportable cash crops. In particular, that's the World Bank/IMF model of "helping". Anyway, Germany isn't a US imperial interest in the same way Cote d'Ivoire is for France... yet. Still, there are other mechanisms beyond gold that the US uses to influence or even control Germany (ie NATO). [1]: https://www.brookings.edu/articles/how-the-france-backed-afr...

t1234s

not according to Die Hard 3

mrlonglong

Pull it. The French sold theirs and bought new stock on the European market.

mathgradthrow

This is the dumbest thing that has ever been posted on this site.

lo_fye

Betteridge's Law of Headlines states that any headline ending in a question mark can be answered with "no".

wolvoleo

With Trump? Obviously not. The rule of law doesn't concern him. They should remove it asap like France.