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Germany and Italy pressed to bring $245B of gold home from US

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Re: Germany and Italy pressed to bring $245B of gold home from US

#111
post #5

Earlier quoted context omitted.

If your friend goes to an ATM for $20 and their bank fines them with a large percentage fee on their income; are you likely to also choose this bank?

If I go to any bank to withdraw $50000 in cash, they won't let me either.

Surely gold is different from just account balance right ? They promised to actually keep those gold in the vault, and not spend the gold and keep only the equivalent in bank notes.

Re: Germany and Italy pressed to bring $245B of gold home from US

#112

The Germans in this article all appear to be aligned to either BSW (populist far-left, pro-Russia, anti-US) or AfD (populist far-right, pro-Russia). BSW wasn't even elected into the parliament and AfD, while being part of the parliament, has virtually no power due to not being part of the government coalition and all other parties sharing an informal agreement to not pass legislations with the help of AfD. What I'm t…

Is far-left really pro-Russia or just anti-US? Not everyone that is anti-US (which a lot of people with common sense would be tbf) is pro-Russia

My only knowledge of them is a cursory Wikipedia search, but yes it appears they are pro-Russia: https://en.wikipedia.org/wiki/Sahra_Wagenknecht_Alliance

Re: Germany and Italy pressed to bring $245B of gold home from US

#113

The Germans in this article all appear to be aligned to either BSW (populist far-left, pro-Russia, anti-US) or AfD (populist far-right, pro-Russia). BSW wasn't even elected into the parliament and AfD, while being part of the parliament, has virtually no power due to not being part of the government coalition and all other parties sharing an informal agreement to not pass legislations with the help of AfD. What I'm t…

Is far-left really pro-Russia or just anti-US? Not everyone that is anti-US (which a lot of people with common sense would be tbf) is pro-Russia

We are talking about a splinter party (BSW) from the main left party (Die Linke) which is a kind of anti-woke- and anti-immigration-party that spouts basically the normal Kremlin propaganda lines about Ukraine. There is of course anti-US sentiment there since is secondary to their main issue, peace at any cost so that Germany can get cheaper energy again.

Note that I'm not a German national but I live in Germany (former DDR / East) since 9 years.

Re: Germany and Italy pressed to bring $245B of gold home from US

#114

Bring it home. US can't be trusted anymore. Bring it home.

It's probably too late now. Tbag's financial philosophy has been that everything in his pocket is his. This has historically included all unpaid contracts, all campaign contributions and large segments of the US budget. I don't think it's a stretch to suggest that if he lives long enough it will also include the Putinesque concept that everything deposited in his country's banks is also his to take when needed. I'm willing to bet he's already looking that far ahead and won't allow European wealth to be repatriated under any circumstances.

Re: Germany and Italy pressed to bring $245B of gold home from US

#115

Poland also have around $50B in gold reserves. Is there some law or unwritten law that requires Central Banks to keep so much gold? It looks like waste of resources to me, especially so if it's kept abroad. Is there a scenario in which it's better than just keeping reserves in mix of various government's bonds or some other asset like land or something else.

This is not as much as it looks like at first glance. "Revenue" for the german state is something around $2000B, while their ~3000 tons of gold are worth ~300B.

It is plausible to me that building up a gold reserve might be worth it, longterm, purely because the gained trust/perceived stability nets you slightly better conditions when financing megaprojects alone (like the Fehmarn tunnel): Over a few centuries you might save tax dollars thanks to investing into bigger gold reserves earlier.

And gold is objectively useful if things go to shit-- just look at Russia for a recent example-- gold is nice for mitigating sanctions and stabilizing your currency under bad conditions.

Re: Germany and Italy pressed to bring $245B of gold home from US

#116

Earlier quoted context omitted.

Is far-left really pro-Russia or just anti-US? Not everyone that is anti-US (which a lot of people with common sense would be tbf) is pro-Russia

We are talking about a splinter party (BSW) from the main left party (Die Linke) which is a kind of anti-woke- and anti-immigration-party that spouts basically the normal Kremlin propaganda lines about Ukraine. There is of course anti-US sentiment there since is secondary to their main issue, peace at any cost so that Germany can get cheaper energy again. Note that I'm not a German national but I live in Germany (for…

Ah fair enough, thanks for the info

Re: Germany and Italy pressed to bring $245B of gold home from US

#117

Earlier quoted context omitted.

That's a children's parable. You can easily defeat the test by using two metals, one denser than gold and one lighter, whose combination matches the density of gold, and then putting a veneer of gold on top of it.

You can nowadays look at a 3D-plot of internal density in an X-Ray computed tomography. On the chance that somebody mixed up an alloy that has the exact same density and X-Ray density as gold, you can try X-Ray absorption spectra which depend on nuclear resonances of different nuclei, so would conclusively prove presence and amount of non-Gold material. And you can do activation analysis, where you activate the ingot…

You know slightly different NMR machines are used to scan entire humans, right? They only really differ in scan pattern for this aspect. That's IIUC just a software change.

Re: Germany and Italy pressed to bring $245B of gold home from US

#119
post #2

https://archive.is/20250623093918/https://www.ft.com/content... I have doubts the current US administration would let them without some sort of retaliation (e.g. more tariffs)

They introduced new tax on remittance already. Germany would never dare to anger USA anyway

Re: Germany and Italy pressed to bring $245B of gold home from US

#120

The Germans in this article all appear to be aligned to either BSW (populist far-left, pro-Russia, anti-US) or AfD (populist far-right, pro-Russia). BSW wasn't even elected into the parliament and AfD, while being part of the parliament, has virtually no power due to not being part of the government coalition and all other parties sharing an informal agreement to not pass legislations with the help of AfD. What I'm t…

This is a very skewed view of the political landscape. Would be nice to forget this pro/anti Russia narrative. Please also note that AfD has become the strongest party in Germany. Sure, firewalled, but question is, for how long.

Not true. CDU/CSU was the strongest party in the last election. Stick to the facts, please.
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