The safety of Germany’s gold reserves stored in New York became the subject of the public debate after Trump returned to the White House.
The Republican War and the Republican War in the Federal Reserve System, initiated by US President Donald Trump, is attracting attention to the preservation of German gold reserves found in the storage in New York. On Friday, May 30, Reuters wrote.
According to the agency, today Germany has the second amount of golden reserves in the world after the United States – 3375 tons. In addition, about 37% of this volume, that is, more than 1250 tons are stored in New York’s Federal Reserve Bank. Nearly 13% of all German reserves are in the safes of the Bank of England in London.
“Trump wants to control the Fed, which also means control over German gold reserves in the United States. This is our money, they have to return,” the head of the European Association of Taxpayers told the agency.
According to Reuters, the safety of gold reserves in the United States has been the subject of public debate earlier, but the situation has been significantly exacerbated by Trump’s return to the White House.
In particular, European Parliament deputy Marcus Ferber (Christian Democratic Union) said the United States “was no longer a reliable partner before.”
“Trump is unpredictable, and it cannot be ruled out that someday he will offer new ideas on how to treat foreign gold reserves,” he told Reuters.
In Bundesbank, in response to Reuters, they reported that they had no doubt about maintaining gold.
“In the man of the New York Federal Reserve Bank, we have a reliable reliable partner for storing our reserves,” the regulator said in response.
The fact that the German government circles discussed the possibility of removing gold reserves from the United States, Bild reported in March.
This week, the head of the European Association of Taxpayers sent open letters to Bundesbank and the Ministry of Finance with a call to return the gold stored in the United States.
There is no official explanation of why German Gold is stored outside the country.
Earlier, Frederick Mertz called for quick actions to ensure German’s competitiveness against the back of the stock markets after US President Donald Trump’s announcement of new duties.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.