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

Post by Eduard » Mon, Jun 23, 2025, 1:50 PM UTC

myrmidon wrote: post #134

patrickk wrote: post #93

> A secret report by Germany’s Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin. > The Fed implements stringent security controls, and refuses even Bundesbank staff full access to the German gold hoard. A…

Note that Germany already finished bringing back 300 tons of gold from NYC and about the same amount from Paris in 2016, so this is a bit out of date (that whole transfer was completed ahead of schedule, which indicates, in hindsight, that probably not all the German gold in NYC was missing completely in 2011 :P).

Post by ceejayoz » Mon, Jun 23, 2025, 1:53 PM UTC

pglevy wrote: post #180

ceejayoz wrote: post #81

Earlier quoted context omitted.

https://www.newyorkfed.org/aboutthefed/goldvault.html > As of 2024, the vault housed approximately 507,000 gold bars, with a combined weight of 6,331 metric tons. The vault is able to support this weight because it rests on the bedrock of Manhattan Island, 80 feet below street level and 50 feet below sea level. > Following the verification process, the gold is moved to one of the vault’s 122 compartments, where each…

Thanks for the link! I wonder how this works. Is there just no practical impact of the "book value" being so far off the market price? Surely any exchange is done at the prevailing rates. > The market value of a gold bar depends on its weight, purity level, and the prevailing market price for gold. Rather than market pricing which fluctuates daily, the New York Fed uses the United States official book value of $42.22…

Post by Aldipower » Mon, Jun 23, 2025, 1:55 PM UTC

Eupolemos wrote: post #181

Aldipower wrote: post #146

Earlier quoted context omitted.

As it is correct, that they are virtually not in power, framing them as pro-russia is some sort of false flag. Just because they are not anti-russia, like every other party, does not automatically mean that they are pro-russia. AfD and BSW together got more then 25% of all votes. So, you are correct, they virtually are not in power, but they have some real power just by being there. This HN post here is the best exam…

When another nation wants to subjugate or invade you and/or your neighbors, not being against is being pro them. Being against military expenditures and alliances when the other nation is arming like there is no tomorrow is being pro getting invaded. It is not complicated.

Post by tock » Mon, Jun 23, 2025, 1:57 PM UTC

Nifty3929 wrote: post #173

regularization wrote: post #163

Earlier quoted context omitted.

> And in a crisis likely won't be useful for buying things that do. In a crisis, the value of gold holds more than that of the Papiermark, or even the US dollar - I can buy only one egg for the two I could have bought five years ago. Gold is uniform, portable, divisible and durable - useful attributes in a crisis, and worth more than Confederate dollars. Gold is useful - for filling teeth, for electronic coating. It'…

If you think the value of gold has remained stable, that's only because you're only measuring it during times and places of stability. See how much bread your ounce of gold buys you when there's no bread to buy. In a real crisis, the value of gold drops to near zero, just like fiat money does. No hungry person cares about electronic coating. The best you can say is that gold is tangible, portable and universal. So yo…

Post by londons_explore » Mon, Jun 23, 2025, 1:58 PM UTC