Calls for European Nations to Repatriate Gold From US Amid Geopolitical Concerns
Bitcoin.com
News Bytes
Germany and Italy are facing increasing pressure to relocate their gold reserves from the New York Federal Reserve due to rising geopolitical tensions and concerns over U.S. monetary policy under President Donald Trump.
With Germany and Italy holding the second and third largest national gold reserves globally, valued at over $245 billion combined, former politicians and advocacy groups are urging a reassessment of their reliance on U.S. custodianship. Fabio De Masi, a former MEP, emphasized to the Financial Times the need for European nations to consider relocating their gold in “turbulent times.”
The debate has gained traction across the political spectrum in Germany, with calls for the Bundesbank to ensure the security of its gold reserves. While the Bundesbank maintains that the New York Fed is a reliable partner, the discussion reflects broader concerns about the stability of international financial relationships and the importance of physical control over national assets.
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