Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Germany and Italy pressed to bring $245bn of gold home from US
Economy

Germany and Italy pressed to bring $245bn of gold home from US

Last updated: June 23, 2025 1:37 am
Share
Germany and Italy pressed to bring 5bn of gold home from US
SHARE

Germany and Italy are facing increasing pressure to repatriate their gold reserves from New York amid concerns about President Donald Trump’s attacks on the US Federal Reserve and rising geopolitical tensions. Both countries hold significant amounts of gold in the US, with Germany storing 3,352 tonnes and Italy storing 2,452 tonnes in New York. The total market value of the gold stored in the US by these two countries is estimated to be over $245 billion.

The idea of moving gold reserves back to Europe or to their respective countries is gaining traction, with politicians and experts expressing concerns about the security and stability of keeping the gold in the US. Fabio De Masi, a former MEP from Germany, highlighted the need to consider relocating gold to Europe during turbulent times. Peter Gauweiler, a former conservative MP from Bavaria, emphasized the importance of safeguarding Germany’s gold reserves and raised questions about the security of storing gold abroad.

The Taxpayers Association of Europe has urged policymakers in Germany and Italy to reconsider their reliance on the Federal Reserve as a custodian for their gold reserves. The association expressed concerns about Trump’s interference with the independence of the Federal Reserve and recommended bringing the gold back home to ensure greater control over it.

In Italy, economic commentator Enrico Grazzini warned about the risks of leaving a significant portion of the country’s gold reserves in the US under the current administration. A survey of global central banks revealed that more banks are considering storing their gold domestically due to concerns about accessing their reserves in times of crisis.

See also  An Exhibition Axed Under Trump’s DEI Ban Finds a New Home

The history of European countries storing gold in the US dates back to the post-World War II era, when large trade surpluses with the US led to the accumulation of significant gold reserves. However, recent geopolitical uncertainties and Trump’s unpredictable policymaking have prompted a reevaluation of this practice.

In Germany, a grassroots campaign led to the repatriation of half of the country’s gold reserves from Paris and New York to Frankfurt in 2013. The move was seen as a step towards ensuring greater control and security over the gold reserves. Similarly, in Italy, there have been calls for repatriating the country’s gold reserves, but the current government has remained silent on the issue.

Overall, the debate surrounding the repatriation of gold reserves highlights the growing concerns about geopolitical risks and the need for central banks to have full control over their assets in uncertain times. The calls for moving gold out of New York underscore the importance of safeguarding national assets and ensuring financial security in the face of global challenges.

Fabio Rampelli, a parliament member of the Brothers of Italy party, recently expressed the party’s current stance on Italy’s gold reserves. He stated that the “geographical location” of Italy’s gold was of only “relative importance” as it is currently in the custody of “a historic friend and ally”.

This statement by Rampelli sparked a discussion on the significance of where a country’s gold reserves are stored. German investment veteran Bert Flossbach, co-founder of Flossbach von Storch, Germany’s largest independent asset manager, echoed similar sentiments. Flossbach argued that repatriating gold reserves with great fanfare could potentially signal deteriorating relations with the United States.

See also  Chinese smartphone company Xiaomi delivers 20,000 SU7 EVs in October

The Bundesbank, Germany’s central bank, emphasized that it regularly evaluates the storage locations for its gold holdings based on guidelines established in 2013. These guidelines prioritize not only security but also liquidity to ensure that gold can be easily sold or exchanged into foreign currencies if necessary. The Bundesbank affirmed that the New York Federal Reserve remains an important storage site for German gold, emphasizing their trust in the Federal Reserve’s reliability for safekeeping their gold reserves.

Despite these statements, the Bank of Italy, as well as the offices of Giorgia Meloni and the finance ministry in Berlin, declined to provide any comments on the matter.

In conclusion, the debate surrounding the geographical location of a country’s gold reserves continues to be a topic of interest among policymakers and financial experts. The decision on where to store gold reserves is not only based on security considerations but also on diplomatic relations and liquidity needs. The reassurance of trust in the custodian of these reserves is crucial in maintaining stability in the global financial system.

TAGGED:245bnbringGermanyGoldhomeItalyPressed
Share This Article
Twitter Email Copy Link Print
Previous Article What one town learned by charging residents for every bag of trash What one town learned by charging residents for every bag of trash
Next Article Love Island Season 7 Recap: Week 3 Twists Amid Casa Amor (Updating Daily) Love Island Season 7 Recap: Week 3 Twists Amid Casa Amor (Updating Daily)
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Boy, 16, caught with loaded gun at NYC high school charged as officials reveal the weapon was one of 4,000 seized in NYC this year

The incident that unfolded at Benjamin Cardozo High School in Queens has left many shaken…

September 20, 2025

Christine Lagarde signals ECB rate-cutting ‘nearly concluded’

The European Central Bank (ECB) has recently announced a quarter-point reduction in borrowing costs to…

June 5, 2025

Leaping Lemurs! Global Nature Abounds in the 2025 BigPicture Competition — Colossal

The Big Picture Competition showcases the incredible biodiversity of our planet, capturing stunning moments in…

July 16, 2025

Where to watch Arsenal vs. Milan: Mikel Arteta concerned about squad depth; Massimo Allegri targets UCL

Arsenal and AC Milan are set to face off in their first match of the…

July 22, 2025

Dave Portnoy Rips Dems and Media Over Biden Decline Scandal: ‘Trump is Mother Teresa Compared to These People’ (VIDEO) |

In a recent video tirade posted on Twitter/X, Barstool Sports founder Dave Portnoy unleashed his…

May 17, 2025

You Might Also Like

Trust Government Statistics, Not Government
Economy

Trust Government Statistics, Not Government

October 31, 2025
Jefferies Raises BP Price Target to 420 GBp, Maintains Hold Rating
Economy

Jefferies Raises BP Price Target to 420 GBp, Maintains Hold Rating

October 31, 2025
Dan Ives’ AI ETF Hits B in Assets Just Five Months After Launch
Economy

Dan Ives’ AI ETF Hits $1B in Assets Just Five Months After Launch

October 31, 2025
Is This The Best ETF to Invest In Ahead of Potential AI Bubble Burst?
Economy

Is This The Best ETF to Invest In Ahead of Potential AI Bubble Burst?

October 31, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?