Germany also needs to pull all gold. We have 1236t there.
With the way the US is going that might just end up in a gold trump statue instead
France pulls last gold held in US
91–100 of 374 posts
Re: France pulls last gold held in US
#92This is not gain at all. At least in theory: You own some tons of gold at the start of the process, you have the same tons of gold at the end of the process. The only real gain is that you have gold in the US custody and the US can be tempted to just use it without telling you anything. In other words, you had "paper gold" or "virtual gold" that the US can confiscate anytime, for example after invading Greenland, bla…
Paper/virtual gold perhaps bought ages ago at a far lower price point, now turned into real, solid gold in parity with today's price point. To me this sounds like the implied gain.
Re: France pulls last gold held in US
#93Earlier quoted context omitted.
Gold is down 10+% since its recent peak. They likely sold then and repurchased later.
Then they made money thanks to gold prices fluctuating, not thanks to gold prices rising? And how does a 10% market shift lead to gaining $15b, roughly the value of 100 tons of gold, from the sale and re-purchase of 129 tons of gold? This math ain't mathing.
It's more that the english ain't parsing, for some at least.
The mining.com quote is classic weasel phrasing, seemingly meaningful yet disturbingly ambiguous:
Due to rising gold prices, the move helped the bank to generate a capital gain of 13 billion euros ($15 billion), bringing it to a net profit of 8.1 billion euros for the 2025 financial year after a net loss of 7.7 billion euros in 2024.
Just as, say, one guy helped four others push a car back up on the road.
We've been given, accurately or not .. likely true, figures on how the bank did over a period, we've also been told the gold movements helped with that ... so they almost certainly kicked in at least $1.
Re: France pulls last gold held in US
#94Earlier quoted context omitted.
You bought it once at X price, it's realized when you sell it, it's unrealized while "open" If they held it for 100 years and finally sold it, then profit/loss is realized now
But then they bought it again. They had 129 tons of gold, and now they still have 129 tons of gold. Where does the realised gains come from?
The variation in gold prices in the time they carried out this exchange process.
Re: France pulls last gold held in US
#95Earlier quoted context omitted.
Would be good to not depend on the US that much any longer, since they have proven to be such an unreliable "partner". Even in a non-Trump future one cannot rely upon some future election not resulting in some similar disaster. Better to pull out, before some hothead gets weird ideas about that gold.
Maybe the fact that US soldiers and military bases exist inside Germany's borders is slightly more important than where the gold is. First regain your sovereignty, I'd say.
The USA is threatening to pull out of NATO anyway, so those might go away.
Re: France pulls last gold held in US
#96Earlier quoted context omitted.
Dumpling $15B on the market should lead to a drop. Anyway, the gold price is not always going up.
The claim is that rising gold prices lead to gains of $15b. As in they started with 129 tons of gold in the US, then they sold that and bought gold in Europe, and in the end, due to rising gold prices, they had 129 tons of gold in Paris plus $15b extra cash. Please explain a hypothetical course of events which makes this plausible. Keep in mind that 129 tons of gold is worth just a bit more than $15b, so small market…
They purchased 129 tons of gold in Europe. Their asset position did not change: they converted cash to gold of the same value.
They then sold the 129 tons gold in the US vaults for $16 billion. That gold was originally purchased I'm guessing many decades ago for $1 billion. The have a book profit of $15 billion and still have 129 tons of gold.
They captured some of the appreciation in gold value as a realised profit on their books.
Their balance sheet did not change, just their income statement
Re: France pulls last gold held in US
#97This is not gain at all. At least in theory: You own some tons of gold at the start of the process, you have the same tons of gold at the end of the process. The only real gain is that you have gold in the US custody and the US can be tempted to just use it without telling you anything. In other words, you had "paper gold" or "virtual gold" that the US can confiscate anytime, for example after invading Greenland, bla…
Re: France pulls last gold held in US
#98Not done for political reasons.
Would it count as a "political reason" if their risk management calculations crossed a threshold where it's worth it to move the gold back? I imagine such calculations are done and revised all the time and account for the perceived stability and reliability of a country.
Russia's frozen assets probably were considered safe by the similar calculations. Everything is safe until it is not.
Re: France pulls last gold held in US
#99Earlier quoted context omitted.
Would be good to not depend on the US that much any longer, since they have proven to be such an unreliable "partner". Even in a non-Trump future one cannot rely upon some future election not resulting in some similar disaster. Better to pull out, before some hothead gets weird ideas about that gold.
Maybe the fact that US soldiers and military bases exist inside Germany's borders is slightly more important than where the gold is. First regain your sovereignty, I'd say.
Nothing wrong with going for the low hanging fruit first.
Re: France pulls last gold held in US
#100Looks like we're at the beginning of FBRICS
EUBRICS, but it also includes Canada but not Russia and it's really more like "sane countries readjusting their politics against a mad ape".