Is something big in the world? European country is asking for his gold from Donald Trump

Gold has always been considered as safe hasn. That is, whenever something bad happens in the world or is going to happen, then big investors from all over the world invest all their money in gold. This is the reason that whenever the situation between two countries is serious, the prices of gold starts increasing. But, this time the matter is something else. Let us know why the countries of Europe are asking for their gold back.

Why are the countries of Europe asking for gold

In fact, US President Donald Trump’s possible return to power has alerted the countries of Europe to its gold reserves. Now the voice is raising from many European countries that their gold kept in America should either be brought back or should be fully examined and audited.

Why EU’s gold in America’s chests?

European countries like Germany, Italy and France stor their large part of their large parts at the Federal Reserve Bank of New York in the US or Bank of England in London. There are historical and economic reasons behind this, such as the instability after World War II and reliable system in international transactions.

Taxpayers Association of Europe (TAE) open appeal

Taxpayers Association of Europe (TAE) has clearly stated that European countries should get their gold back from America or at least its inventory and independent audit. TAE believes that gold is not required to come back in its own country, but it should have complete reach and transparency.

Why worry about Trump and US Federal Reserve?

The report said that Trump has repeatedly questioned the freedom of US Federal Reserve, especially on interest rates. Trump wanted the Fed to be more directly under the control of the White House. In such a situation, there is a possibility that if the US says that returning their gold to foreign countries is “unfair”, then what will happen? For example, German MPs were not allowed to see gold kept in the American chest earlier, which raised questions on transparency.

Where is the gold of Europe kept?

Although it is not public that how much gold of EU countries is kept in the US or London, according to reports, about half of the Gold of Germany is in the 80 feet deep vault of the Federal Reserve Bank of New York, which is located under the rocks of Manhaton.

Why is the demand for gold increasing?

In the last three years, 2022, 2023 and 2024, central banks from all over the world bought more than 1000 tonnes of gold every year, which is more than the average of the previous decade (400–500 tons). Two big reasons are being considered behind this. The first rising inflation and the second international political instability. The European Central Bank report states that gold has now become a big foreign exchange reserve asset than the Euro.

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