German politicians are actively discussing the idea of repatriating their gold reserves stored in American vaults, totaling 113 billion euros. Until now, the vaults in the U.S. have been considered reliable since 1945, but new political circumstances under President Donald Trump have raised serious doubts.
This is reported by Finway
As noted by POLITICO, some German politicians express concerns that one of the most secure vaults in the world may prove to be unreliable. Germany holds the second-largest gold reserves in the world, of which 37%—approximately 1,236 metric tons—are located in the vaults of the Federal Reserve System in New York. These precious metal reserves provide the Bundesbank with the ability to exchange for U.S. dollars or other hard currencies if necessary.
“The very thought that it (the vault in the U.S.—ed.) could be unsafe would have been considered ridiculous since 1945… but confidence in post-war Germany has been turned upside down,” notes the German tabloid Bild, quoting European Union Member of Parliament Markus Ferber, a representative of the CDU, who has called for increased inspections of German gold in the U.S.
Until now, the idea of danger to gold stored in official vaults was considered the prerogative of conspiracy theorists. However, as Bild points out, this topic was raised by billionaire Elon Musk, who called for an inspection of U.S. gold reserves.