French central bank nets €13bn by pulling gold out of US reserves

Yes. Yes, of course it's not.

Just to clarify further, France pulled most of their gold from the US in the sixties. There was only 5% left in the US and now it's zero, equal to the level of trust for this dumb as f*** country that elects then protects a pathological liar, narcissist, racist, corrupt, scammer and pedophile convicted felon.

> a German demanding Germany do the same. As a German demanding Germany do the same: I am so f****** exasperated with our gut- and feckless crop of politicians. They talk the talk, but when it comes to walking, they're tying the laces of both their shoes together, then claim they can't walk, and throw a pity-party.

Even if you believe that it indicates they're not interested in trading the reserve with the US as they've upgraded to the European standard

“We are selling our gold and it is totally not due to Trump.” - The French

I mean the US wanted to have the benefit of it without the cost, France said ok then we take the benefit too. It wasn't even just us, notably Italy and UK did too in massive amount (which is why our reserves are so big to these day, beside UK who sold most of it rather recently). The US saying a dollar is always worth x grams of gold is not just allowing others to convert into gold, it means the US can print money and the world consider it as printing gold. It stopped being close to truth so they had to leave that system, the European mass converting are just the one who called their bluff and made a nice profit while they kept the lie going.

The Germans actually did say that. The French said: "the decision to remove French gold from the United States was not motivated by political considerations".

The 2nd time. His first administration is responsible for some of this decay too. It laid the foundation of distrust and concern about what a real dimwit/a****** president could do if he wanted to.

“You’re not fixing the stuff republicans broke fast enough, so we are going to re-elect republicans.” US voters every few years. It’s SO depressing to see progress starting to happen only for voters to decide we want to tear everything down rather than fix it.

This is what is happening in the UK. The Tories smashed the country for fourteen years, and people think it is going to be back to normal over night. Because of that Reform are polling well. People are stupid.

My personal theory is that American voters have a weird parental relationship with the parties, Republicans are Daddy and Democrats are Mommy. But Mommy and Daddy are divorced. Daddy is the fun, irresponsible one who talks shit about Mommy and makes wild promises about going to Disneyland and lets you have ice cream for breakfast. But his promises aren't worth anything. He gets angry and he drinks too much, and pretty soon the kids are hungry and they have head lice and no shoes.  So they go crying to Mommy. And Mommy, the boring, responsible one, makes it better. But just as soon as she gets things straightened out the kids start to get angry at Mommy because they have to take their medicine and go to bed on time and eat vegetables. So along comes Daddy again, slurring his words, saying, "What is your b**** mom making you do now? Come with me and we can get some ice cream and go to Disneyland." And the cycle repeats again and again. Because a critical mass of American voters are emotionally crippled morons. 

>in 2032 Assuming they get rid of the GOP, it's gonna be more like 2052 before rest of world starts having any good trust in the US. And that's assuming they don't f*** up again before then.

Republicans f*** shit up. Some democrats try to fix but it takes more than two terms to do it properly... Republicans back in to f*** shit up.

Almost like a two party system doesn't work and perhaps both parties may be colluding to maintain the status quo 

I’m not American, can I celebrate the downfall?

Buy low, sell high. Sounds like the opposite of my investing experience

Huh... I wonder if that gold dip was from that?

The real art of the deal

I assumed countries flip gold all the time to grow their value incrementally.

If only drugs were anywhere near the most egregious thing.

Nations became a lot braver telling Trump to suck a fat one after Mark Carney's speech a few months ago.

In the article: "The Bundesbank, Germany's federal bank, holds about 1,236 tonnes of gold in the US, or about 37 percent of its total."

Charles de Gaulle brought back the bulk of the treasure from the U.S back in the 60s already. France has just finally brought home the last of it.

germany still has 35% of their gold in the Fed, while after that operation, france has all their gold on french territory.

That is downright false. France brought back all of its gold in the 1960s except for what they just sold off, which is only about 5% of their total reserves. While France was doing this, Germany was actively increasing their stores in the US due to their East/West separation and not being able to securely store their own stores of gold. They started bringing some back in 2016 iirc, but they still hold a large portion in the US, almost 40% of their total reserves.

The Netherlands isn't doing anything yet, they only raised the question in parliment a month ago. And I think the answer was to do nothing yet

They do that and it'll collapse all trust in the US. Other countries will stop buying US treasury and even take US assets in their country to get the money back. 

I mean technically, they could as long as the gold is physically in the US. Also, European countries could technically seize every single US property on their land, like factories, office buildings, vehicles, military equipment, and even embassy buildings as long as those are physically on their land. That's why it'll never happen.

To get an opinion like that, the article had to find essentially a random German think-tank dude, instead of asking any economic expert. There is of course a chance Trump tweets "the gold is mine now, using it to decorate my ballroom, thank you for your attention to this matter,  covfefe!" but gold holdings don't really matter, and the rest of the world will just expect the US to eventually give it back after MAGA finally is destroyed.  (Also, virtually all the French gold was moved out of NY in the 1960s).

Since France decided to do this in 2024, it seems your assertion here is incorrect.

Ok, I understand that selling the old gold made them money. But they also bought new gold, so... Did they decide to buy less gold than what they sold?

I read the article. They sold gold , they also bought gold. The new gold has been purchased now, with (presumably) present prices for gold