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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

#91

Post by tialaramex »

hgoel wrote: post #74
ButlerianJihad wrote: post #20

Earlier quoted context omitted.

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.

Same with NYC, "going to The City" usually just means going to Manhattan.

The city of London literally has a city also named London inside it and yeah, "Where are you going?" "The City" means clearly that tiny part. There is another small older city inside London, Westminster, but if you meant Westminster you'd say "Westminster" never "The City" in general.

Re: Netherlands pulls gold out of the US

#92

Post by rsanek »

For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades:

  Month       Book value ($M)  Tonnes
  July 2006   8,967            6,606
  July 2011   8,412            6,197
  July 2016   7,883            5,807
  July 2021   7,794            5,742
  July 2026   7,812            5,755
The linked report is talking about a change of 1.5% from the latest-reported total amount in tonnes.

Re: Netherlands pulls gold out of the US

#93

Post by zmgsabst »

consp wrote: post #25
ivolimmen wrote: post #2

I am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.

London has an old school gold exchange. Pretty much you can buy and sell by moving a part between vaults (at least that's how I understood it to work in the past). Now I expect it to be just a spreadsheet but who knows.

My understanding is that it’s on shelves in a shared vault and you relabel who owns that shelf/slot/bin.

Re: Netherlands pulls gold out of the US

#94

Post by [deleted] »

tristanj wrote: post #49
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…

You're reading way to much into this. Physical gold bars are transferred via plane between London and New York every day. The gold flies in the cargo holds of regularly scheduled commercial passenger flights. The quantity transferred depends on demand, and could be several metric tons daily. This is nothing unusual. Dubai is another major gold transfer hub, and it operates via the same mechanism. Regarding the articl…

[deleted]

Re: Netherlands pulls gold out of the US

#95

Post by bwanab »

a3qhg wrote: post #90
ivolimmen wrote: post #2

I am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.

The narrative is that the continent is going to be overrun by Russia (at the rate of mile per year like in Ukraine). So the elites think they need the gold in London to pay for their exile government luxury.

No, that isn't the narrative.

Re: Netherlands pulls gold out of the US

#96

Post by tharkun__ »

kzrdude wrote: post #29
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.

I don't think that's a problem, and it doesn't mean that Britain is not in Europe, IMO. Comes naturally with human perspective. "Where did you go this summer?" A) "I stayed in England"; B) "I travelled around Britain"; C) "I went to Europe". All perfectly understandable, I think..

In a non-pedantic context, yes. Otherwise, no.

    A) "I stayed in England"
And you actually traveled in Scotland and Wales but England was synonymous with UK for you. Technically incorrect of course.

    B) "I travelled around Britain"
And in actuality you only traveled in England.

    C) "I went to Europe"
As an American (yes, a US-ian) and you start in Poland at the Baltic sea and then via some nice Eastern European countries with other attractions like Kroatia, all the way down to Greece. But without further explanation and context most people would've assumed you probably traveled Spain, France, Italy etc.

Re: Netherlands pulls gold out of the US

#97

Post by jeroenhd »

thelastgallon wrote: post #57

https://news.ycombinator.com/item?id=49573455 Why are European countries moving their gold out of North America?

The Dutch transfer out of Canada is minimal and pretty much a token amount. Most gold has been transfered out of the USA.

As for why, the American people elected Donald Trump for a second time and the recent trade wars have helped spread the notion that maybe the USA cannot be trusted by its supposed allies as much as it once could be.

Re: Netherlands pulls gold out of the US

#98

Post by bwanab »

wazoox wrote: post #9
ivolimmen wrote: post #2

I am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.

England is definitely a European country. I'm tired of people constantly making this political abuse of language of conflating "the EU" with "Europe". (And yes, saying "America" for "US of A" annoys me too. First step towards losing an imperialist state of mind is letting people from Canada and Brazil be in America).

Most Americans refer to their country as 'the U.S.'. The people I most hear referring to it as 'America' are Brits.

Re: Netherlands pulls gold out of the US

#99

Post by Muromec »

b112 wrote: post #89
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…

USA & Canada I know the above was in the article, but please never mention the US and Canada in the same breath. Please. That & symbol just irritates. From a Canadian's perspective, it's like mentioning a sophisticated, decent human being, and a slimy smarmy used car salesman, in the same breath. Please.

We all have shitty neighbors, okay

Re: Netherlands pulls gold out of the US

#100

Post by csomar »

rsanek wrote: post #92

For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades: Month Book value ($M) Tonnes July 2006 8,967 6,606 July 2011 8,412 6,197 July 2016 7,883 5,807 July 2021 7,794 5,742 July 2026 7,812 5,755 The linked report is talking about a change of 1.5% from the latest-reported total amount in tonnes.

July 2021 7,794 5,742 July 2026 7,812 5,755

Gold prices have exploded between these two dates. Am I missing something?

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