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Dutch central bank moves share of gold from U.S., Canada to London

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Re: Dutch central bank moves share of gold from U.S., Canada to London

#161

Post by adjejmxbdjdn »

andsoitis wrote: post #7

> “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.

Yes, but it’s a very specific geopolitical risk.

European countries aren’t worried that China will conquer the U.S. and they’d lose access to their gold because a hostile Chinese government controls it.

The increased risk is that the U.S. was considered basically risk free for allies, and now the U.S. isn’t considered risk free anymore and allied status is also at risk.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#162

Post by 028363922092 »

triceratops wrote: post #67
gwbas1c wrote: post #32

Earlier quoted context omitted.

Sadly, the way people vote is more complicated than you might believe. Trump is the symptom of malfunctioning system that doesn't give people good options in the ballot box.

I'll say something controversial: Clinton and Harris were both better options than the guy who started his campaign mocking a reporter's disability. If voters had any sense it should've ended right there. The rationalizing, the "corrupt DNC" arguments and everything else is a cop-out.

[dead]

Re: Dutch central bank moves share of gold from U.S., Canada to London

#163

Post by somenameforme »

qw12jh wrote: post #148
somenameforme wrote: post #131

Earlier quoted context omitted.

Ukraine is, in the most positive framing - in a war of attrition that isn't going well. They want greater involvement, ideally much more directly, from NATO countries. And Germany is certainly going to be happy to play along because the AfD is quickly becoming the largest single party in that country. They are Euroskeptical and against continuing the war with Russia. A direct Russian attack on Germany would likely un…

After observing the talk as opposed to the actions of Meloni and Trump, I would bet that the AfD would continue the war as is. Weidel would make a "Notwendige Politikwende" speech and that's it. They'll then cut social services and enact pro-business laws and make some noise about immigration until ordered by the industry to allow it.

I don't think the fear in most politics is about the actions of the 'newcomers', but about potential of the old guard losing power. In the US if a third party started looking like a real threat, Rs and Ds would 100% come together to frame them as the greatest threat of humanity to ever exist, exactly as happened with Perot even in the age before hyper hyperbole.

Like you alluded to Meloni went from end of the world to business as usual in remarkably short order, and the same could viably if not likely happen with AfD as well, but the bigger change behind the scenes there is that her party went from 2% in 2013, to leading Italy today - and that gain came at the expense of the loss of power by whatever the older establishment was in Italy.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#164

Post by mapleoin »

jsiepkes wrote: post #124
Nathanael_M wrote: post #111

Literally moves? Physically moves? Come on, doesn't this make your hands itch? Is it heist time folks?

It's in the article; They sold gold in NYC and with that money bought gold in London.

But how did they move the money between NYC and London?

Re: Dutch central bank moves share of gold from U.S., Canada to London

#165

Post by scottLobster »

One 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.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#166

Post by m-i-l »

consp wrote: post #20
andsoitis wrote: post #7

> “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.

No, 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.

In times of crisis it can be physically moved, e.g. under threat of Nazi invasion in 1939-1940 the UK physically moved over 1,500 tonnes of gold from London to Canada ("the largest known movement of physical wealth in history"[0]), and infamously at the start of the Spanish Civil War the Spanish physically moved 510 tonnes of gold from Spain to the Soviet Union (never to see it again[1]).

[0] https://en.wikipedia.org/wiki/Operation_Fish

[1] https://en.wikipedia.org/wiki/Moscow_Gold_(Spain)

Re: Dutch central bank moves share of gold from U.S., Canada to London

#167

Post by triceratops »

SideburnsOfDoom wrote: post #100
GJim wrote: post #66

Earlier quoted context omitted.

Are you saying there was a worse option than Trump? Really? Because unless the alternative option was a diminutive Austrian with a dodgy 'tache, I find that rather hard to believe. The reality is America voted for Trump (TWICE!) because they wanted him. The rest of the world knows this, and is now acting accordingly. EDIT: Downvotes coming from the brainwashed MAGA crowd!

I disagree not because "brainwashed MAGA crowd" but because people saying "it can't be worse" are almost always wrong. Unless you're starving in the ruins of your house in one of the world's war zones, in which case you're likely focussed on survival, not saying that. Pick any of the leader's third-rate third-tier henchmen or failsons for example of a worse option. Don't dismiss it out of hand. People in the UK voted…

> Pick any of the leader's third-rate third-tier henchmen or failsons for example of a worse option

But none of them were on the presidential ballot in 2016, 2020, or 2024.*

*Under one of the two parties that has any chance of actually winning.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#168

Post by toast0 »

wccrawford wrote: post #35
appleappleapple wrote: post #3

Earlier quoted context omitted.

And this lost trust will not suddenly reappear when he leaves office. He has damaged our reputation for a generation

And I'd argue that it should . He opened the door, and I find it very, very unlikely that either side will close it after this. Dems and Reps will both use this to take control in ways that would have been unthinkable prior to Trump's first election. The only way to restore any measure of that trust would be to pass laws that prevent this kind of abuse, and there's no way that politicians will give up power they've g…

Passed laws don't seem very constraining. Between simple disregard and disregard plus eventual compliance after lengthy court review, there's a lot of time spent under unlawful orders and regulations. There's no personal liability for (most?) of these unlawful actions and Trump doesn't seem to care about continuity of government or having a legacy of doing unlawful things.

Impeachment could be a check on his power, but impeachment is a kangaroo court with a political jury, so he would need to piss off a lot more Republican senators than he has.

A few presidental impeachments over unlawful acts ending in conviction would change future behavior. But it seems unlikely that we'll get there.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#169

Post by triceratops »

NhanH wrote: post #158
TheRealPomax wrote: post #122

Earlier quoted context omitted.

That'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 =)

Currency is inherently about trust: you believe it can be traded later for goods. The mechanism with fiat is that you need to trust your state and government. In gold, you trust that everyone is believing gold has value. And that it is commmon knowledge (in the logic sense [0]) Saying that gold has no more or less inherent monetary value than fiat currency assuming a magic wand that can change a large percentage of p…

Ammunition and canned goods actually have inherent monetary value. While not being fiat currency.
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