Netherlands pulls gold out of the US

ivolimmen

I am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.

mschuster91

Related: https://news.ycombinator.com/item?id=49573455

retired

Dutch central bank moves share of gold from U.S., Canada to London https://news.ycombinator.com/item?id=49535526

ktallett

I'm curious the reason why it was ever held in the US and Canada

ArtTimeInvestor

How is the situation with Bitcoin? Do Europeans have options to hold Bitcoin in ETFs, ETPs etc that are not storing the coins in the USA?

clort

Interestingly, 59 tonnes of gold was sold in USA and bought in London. So that means perhaps "Somebody" transferred 59 tonnes of their gold holdings to the USA.. who was that? This is similar to what the French did last year. The other thing I noticed, is that as the article chose to mention: > Gold that is held with the Bank of England must meet modern international trade standards with implication being that the gold it previously held in the USA was not meeting those standards, but is that just journalistic fluff? what are those standards? (could be exact weights in g rather than purity?) NB the Netherlands still has >200 tonnes of gold held in the USA & Canada.

Brendinooo

Data from a chart in the article: Share of gold before relocation: New York: 31.33% Zeist: 30.83% Ottawa: 19.72% London: 18.12% Share of gold after relocation New York: 18.52% Zeist: 30.83% Ottawa: 18.52% London: 32.13% In other words, if you read the headline and thought the Netherlands was just pulling gold out of the US and it was pulling ALL of its gold out, you're not seeing the whole story. And if you read the whole article, you'll see that all of the anti-Trump framing comes from "experts", not from the actual people moving the gold. If you'd like to read the actual statement from the Dutch National Bank, it's here: https://www.dnb.nl/en/general-news/press-release-2026/dnb-im...

neves

When USA stole assets from Cuba and Venezuela, nobody minded. After they stole from Russia, everybody eyes opened.

thelastgallon

https://news.ycombinator.com/item?id=49573455 Why are European countries moving their gold out of North America?

le-mark

They want to see how much of it is gold plated tungsten, good for them!

amelius

Isn't lithium the new gold?

niemandhier

Germany still has about 1200 t in the US. I wonder if they are going to move it too.

rsanek

For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades: Month Book value ($M) Tonnes July 2006 8,967 6,606 July 2011 8,412 6,197 July 2016 7,883 5,807 July 2021 7,794 5,742 July 2026 7,812 5,755 The linked report is talking about a change of 1.5% from the latest-reported total amount in tonnes.

wolvoleo

Good but they should pull the rest too. Not just this small bit.

xyst

If only the rest of the world could follow.

giov4

based on the fact that in the past was moved for safety and deals towards US, if it's now moved back to EU is it because it feels safer and less deal dependency?

prymitive

The funny thing is that with $40T of public dept US is basically taking money from other countries (in exchange for a pice of paper saying IOU) and then using that money to force these countries to do what’s in US best interests (real or perceived). And the bigger that pile of debt is the more every government is invested in us not going bankrupt, hence the leverage just gets stronger. US is basically a private equity typo of global power - getting others to lend them a knife it stabs them in the back.

tim333

Gotta prepare for the US vs Europe war over Greenland! see: >“Considering your Country decided not to give me the Nobel Peace Prize for having stopped 8 Wars PLUS, I no longer feel an obligation to think purely of Peace,” he wrote, adding that the US needed “complete and total control” of Greenland. not quite sure what's up with this timeline.

obtainr

The run up in gold last year was due to need for US to obtain enough gold to cover these foreign transfers.

gregw2

This is all about Greenland and reducing leverage Trump might wield to get it, right? They can't say that, it just gets them into a pissing match with Trump and what good is that but it's not hard to read between the lines. I also do wonder if the Netherlands knows anything more about CozyBear/FancyBear and the 2016 election than they've let on. ( https://www.aspistrategist.org.au/rare-insight-cyber-espiona... )