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Netherlands pulls gold out of the US

abc.net.au

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Re: Netherlands pulls gold out of the US

#31

Post by kzrdude »

ButlerianJihad wrote: post #20
retired wrote: post #12

Earlier quoted context omitted.

In all fairness, I deal with British tourists a lot and they always talk about "going to Europe" when they refer to their summer holiday in Benidorm.

In the San Francisco Bay Area, the locals refer to SF proper as “The City” (not “Frisco”.) So, they may live in Cupertino, Palo Alto, or Oakland, but when they say “we’re going to The City for a concert on Saturday!” we can hear them pronounce those capital letters as an unambiguous reference to the one, true City.

I live in a city (a quite small one) and if I say that I'm going into the city, then it means I leave my neighbourhood (it's in the same city) and I'm going to the city centre.

Re: Netherlands pulls gold out of the US

#32

Post by 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...

Re: Netherlands pulls gold out of the US

#34

Post by exceptione »

ktallett wrote: post #5

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

Besides the reasons listed by the others, this also a matter of relationships as there a deep ties between these nations and the Netherlands. Without the Dutch financing the Americans, America would not have been able to become independent from the English. The Dutch were also the first country on earth to acknowledge America's independence [1][2], costing them a war with the pissed England [3].

There are a lot of Dutch people living in Canada.[4]

  _____
1. https://en.wikipedia.org/wiki/Johannes_de_Graaff>

2. https://en.wikipedia.org/wiki/The_First_Salute>

3. https://en.wikipedia.org/wiki/Fourth_Anglo-Dutch_War>

4. https://en.wikipedia.org/wiki/Dutch_Canadians>

Re: Netherlands pulls gold out of the US

#35

Post by bootsmann »

clort wrote: post #30

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 go…

Most of this is googleable but there are thousands of traders that make sure the gold price is the same globally so nobody had to “move” their gold in the reverse for this trade to work.

The difference between London and the US is that the bars are of different size (12.5 vs 1kg).

Re: Netherlands pulls gold out of the US

#39

Post by hvb2 »

jochem9 wrote: post #27
sajithdilshan wrote: post #15

Earlier quoted context omitted.

I’m surprised why they don’t just move it back to their own country and put it in a safe in Netherland.

The biggest chunk is in the Netherlands, but you want your gold also in other countries, so that you can still access is (and don't loose it) in case of an invasion. Hence almost half is in North America, a completely different (and (somewhat) allied) continent. It's also easier to sell in certain markets, such as London.

Just to be a pedant, 18.5 % in the US and same in Canada so 37%.

I wouldn't call that almost half, it used to be about half before the move (NY at 31.3, 19.7 in Canada).

Re: Netherlands pulls gold out of the US

#40

Post by JumpCrisscross »

bootsmann wrote: post #35
clort wrote: post #30

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 go…

Most of this is googleable but there are thousands of traders that make sure the gold price is the same globally so nobody had to “move” their gold in the reverse for this trade to work. The difference between London and the US is that the bars are of different size (12.5 vs 1kg).

> there are thousands of traders that make sure the gold price is the same globally so nobody had to “move” their gold

Physical versus contract differences are real and require moving the actual gold. What most users do is sell deliverable where they want it out and then buy contracts or deliverable where they want it and then let the market figure out how to move gold around to settle. (It probably won’t involve moving gold from where you had it to where you want it unless you’re in a cohort.)

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