"Emanuel Monch, a leading economist and former head of research at Germany's federal bank, the Bundesbank, called for the gold to be brought home, saying it was too risky for it to be kept in the US under the current administration. Given the current geopolitical situation, it seems risky to store so much gold in the US, he told the financial newspaper Handelsblatt. In the interest of greater strategic independence from the US, the Bundesbank would therefore be well advised to consider repatriating the gold."
"arguing that the US's stated desire to seize Greenland should concentrate minds. Trump is unpredictable and he does everything to generate revenue. That's why our gold is no longer safe in the Fed's vaults, Jager told the Rheinische Post. What happens if the Greenland provocation continues? The risk is increasing that the German Bundesbank will no longer be able to access its gold. Therefore, it should repatriate its reserves."
Germany holds the world's second-largest national gold reserves, with approximately 1,236 tonnes (valued around €164bn/$122bn) stored in New York. Leading economists and taxpayers' representatives have urged repatriation, citing the unpredictability of the US administration and geopolitical concerns. Emanuel Monch warned that keeping large quantities of gold in the US is risky and recommended the Bundesbank consider bringing the reserves home for strategic independence. Michael Jager warned that US actions, including talk of Greenland, could imperil access to gold held in Fed vaults. The Bundesbank currently says withdrawal is not under consideration.
Read at www.theguardian.com
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