Germany Wishes to Repatriate Gold from the U.S.
According to reports by The Political Paper, The Bild, and The Daily Telegraph, Germany plans to repatriate 1,200 tons of gold from New York in response to Trump's trade tariffs. The estimated value of these reserves is 113 billion euros.
Domestically, Germany is concerned about President Trump's unpredictable policies, considering the U.S. no longer a reliable partner.
About 80 countries and regions worldwide store their gold in the underground vaults of the Federal Reserve Bank of New York, with a total amount approaching 7,000 tons.
Germany's plan to transport 1,200 tons of gold from the U.S. stems from concerns over Trump's government policies and a crisis of trust in the dollar credit system. Trump's protectionist trade policies, such as imposing tariffs on imported goods, directly threaten Germany's export-oriented economy, particularly its core industries like automobiles and machinery.
By transferring gold reserves back to the country, Germany can better cope with potential financial crises and enhance its status and influence in the international financial market. This move also reflects Germany's dissatisfaction with the U.S. dollar's hegemonic position and its intention to gain more initiative in the changing global economic landscape.
This decision by Germany may prompt other countries to follow suit, impacting the global central bank gold reserve pattern.
Original Source: https://www.toutiao.com/article/1828553051713548/
Disclaimer: The article represents the views of the author alone.