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.
Germany and Italy pressed to bring $245B of gold home from US
111–120 of 329 posts
Re: Germany and Italy pressed to bring $245B of gold home from US
#112The 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
Re: Germany and Italy pressed to bring $245B of gold home from US
#113The 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
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
#114Bring it home. US can't be trusted anymore. Bring it home.
Re: Germany and Italy pressed to bring $245B of gold home from US
#115Poland 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.
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
#116Earlier 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…
Re: Germany and Italy pressed to bring $245B of gold home from US
#117Earlier 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…
Re: Germany and Italy pressed to bring $245B of gold home from US
#118Re: Germany and Italy pressed to bring $245B of gold home from US
#119https://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)
Re: Germany and Italy pressed to bring $245B of gold home from US
#120The 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.