Probably a product of the American "Wunderkind" —also known as the "Wirtschaftswunder". After WWII, postwar exports boomed, and Germany, fistfuls of dollars, began converting them to gold—as the Bretton Woods agreements allowed. France (under de Gaulle, who was never exactly shy about his criticism of the U.S.) did the same, even more so. Also Italy, the Netherlands, Switzerland, Japan and Belgium joined the party.
Why? Because none of them really trusted the Americans totally. Being the issuer of the reserve currency came with responsibility and power and it seems they weren’t exactly subtle about using the power part of it... (and then came Nixon.... 🥳 🎉)
Be quiet - don't talk about gold. It is a relic. It can't be printed so what good is it. How can the U.S. continue to run mounting deficits if it can't print money. Printing money is good. Gold is bad. The US$ must remain the one and only worldwide currency. If people start to store gold in their own vaults, the U.S. is in serious trouble. Hard to weaponize gold. There is no SWIFT system with gold so what would the U.S. use to sanction countries/people? STOP TALKING ABOUT GOLD.
Any ideas of how zeGermany was able to get all of that gold in the first place?
Zee war
WWII perhaps?
Probably a product of the American "Wunderkind" —also known as the "Wirtschaftswunder". After WWII, postwar exports boomed, and Germany, fistfuls of dollars, began converting them to gold—as the Bretton Woods agreements allowed. France (under de Gaulle, who was never exactly shy about his criticism of the U.S.) did the same, even more so. Also Italy, the Netherlands, Switzerland, Japan and Belgium joined the party.
Why? Because none of them really trusted the Americans totally. Being the issuer of the reserve currency came with responsibility and power and it seems they weren’t exactly subtle about using the power part of it... (and then came Nixon.... 🥳 🎉)
We know what the US did to Russia regarding reserves.
Trump has complained more than once about NATO members not paying their fair share.
Would you be surprised if Trump tried to take the gold to make up for the shortfall?
Leaving the gold in the US is asking for it IMO.
I think even at the most conservative estimate, as soon as we’re not friendly with them, we will use it as leverage.
Thanks Vince. This is a better reason for the flows, a couple of months ago, from LBMA to US than tariffs.
https://x.com/kashyap286/status/1937176847776612402
Is this a ripple in the water or a developing tsunami underneath the water?
How to tell the difference, Vince?
Any metrics available?
How about current geopolitical events?
What happened to Scott bessent favorable view on gold...nothing.
What happened to judy sheldons 100 yr gold bond...nothing.
Fort knox audit...nothing.
It seems like policy is making a hard u-turn towards gold.
Did the concept of gold seem too hardcore for consumption?
But not btc.
Be quiet - don't talk about gold. It is a relic. It can't be printed so what good is it. How can the U.S. continue to run mounting deficits if it can't print money. Printing money is good. Gold is bad. The US$ must remain the one and only worldwide currency. If people start to store gold in their own vaults, the U.S. is in serious trouble. Hard to weaponize gold. There is no SWIFT system with gold so what would the U.S. use to sanction countries/people? STOP TALKING ABOUT GOLD.