European Central Banks Move Gold Out of U.S. as Geopolitical Risks Mount - The European Magazine
European Central Banks Move Gold Out of U.S. as Geopolitical Risks Mount - The European Magazine
Source: The European Magazine
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DW NOTE
European central banks are repatriating gold from New York Fed vaults — not because they doubt the Fed's custodianship, but because physical possession matters when the rule of law becomes discretionary. The U.S. froze $300 billion in Russian reserves in 2022; every finance ministry in Europe noticed. Gold that can be sanctioned isn't a reserve asset, it's a hostage.