Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

theguardian.com

Post reply on HN
Print view View original

21–30 of 60 posts

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#21

Post by applfanboysbgon »

c23gooey wrote: post #15
applfanboysbgon wrote: post #7

When you think about it, it's really quite a remarkable state of affairs for a nation to trust another nation so implicitly they give it physical control of (a non-trivial portion of) their treasury, in a sense. And now that is coming unravelled. Another marker of human civilization's slow deteroriation. I remember a time when I thought things would only keep getting better and better with advances in technology and…

all of human civilisation =/= the USA

I didn't say it was. Do you believe that there's an upwards trend in global geopolitical stability, or even simply general well-being? If you do, we certainly don't share that opinion.

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#22

Post by SanjayMehta »

RandomWorker wrote: post #19

On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.

GDP is just a number in a spreadsheet. This is a physical asset.

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#24

Post by SanjayMehta »

leoh wrote: post #11
tristanj wrote: post #5

The American Service-Members' Protection Act of 2002, also known as the "Hague Invasion Act", gives the President of the U.S. legal authority to invade the Netherlands to free detained U.S. service members imprisoned by the International Criminal Court. https://en.wikipedia.org/wiki/American_Service-Members%27_Pr...

I feel dumb but how is this related?

I think it's an oblique threat. Just recently Trump made a direct threat on the bond markets.

https://www.mediaite.com/media/tv/trump-suggests-he-can-use-...

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#26

Post by everybodyknows »

RandomWorker wrote: post #19

On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.

To put in human terms, it's roughly three day's labor of every worker in the Netherlands.

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#27

Post by veqq »

MiroslavPokorny wrote: post #12
chvid wrote: post #4

Earlier quoted context omitted.

You can also ask why they move it to London and not mainland Europe.

England has not been invaded in nearly 1000 years.

https://en.wikipedia.org/wiki/1688_invasion_of_England

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#29

Post by fbrncci »

RandomWorker wrote: post #19

On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.

Not the right comparison to make when comparing gold vs paper currency that can be printed at a whim. The comparison would hold if they pulled out physical fiat currency reserves.

Re: Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'

#30

Post by mi_lk »

powcontech wrote: post #18
mullingitover wrote: post #13

Earlier quoted context omitted.

They still keep gold with the New York Fed, this was just a rebalance: > Before the deployment, the Dutch bank held 31.3% of its gold in New York and 19.7% in Ottawa. > After the move, each country accounted for 18.5% of the Dutch gold reserve.

What building in Ottawa has 15 billion dollars of Dutch gold in it ?

Yes policeman right here
Post reply on HN