Germany and Italy pressed to bring $245B of gold home from US

Re:Germany and Italy pressed to bring $245B of gold home fro... by cantor_S_drug on Monday June 23, 2025 @07:51AM (#44354799)

I have an auxilary question. Why don't countries have Gold Embassies around the world? Accounts which can be settled in Bulk (e.g. say $100 million gold equivalent size). This way no one country has monopoly on reserve asset.

[ Parent | on HN ]

Re:Germany and Italy pressed to bring $245B of gold home fro... by kasey_junk on Monday June 23, 2025 @07:55AM (#44354834)

They do. Countries frequently store gold with trading partners or allies. Germany for instance has extensive foreign gold reserves.

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Re:Germany and Italy pressed to bring $245B of gold home fro... by cantor_S_drug on Monday June 23, 2025 @08:36AM (#44355161)

But then the next question is why aren't those used as settlements mechanism?

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Re:Germany and Italy pressed to bring $245B of gold home fro... by kasey_junk on Monday June 23, 2025 @09:01AM (#44355381)

They are? The issue here is simply that the country thinks there is an imbalance. They can request a in country transfer and do, but in this case it’s not enough.

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Re:Germany and Italy pressed to bring $245B of gold home fro... by AnimalMuppet on Monday June 23, 2025 @09:38AM (#44355703)

Because international settlement is huge - something like a trillion dollars a day. (Or maybe that's just currency exchange, which might contain speculation in addition to settlement? Or is that a false distinction?)

Anyway, moving that much gold would be slow, inconvenient, and a significant risk.

[ Parent | on HN ]