The is scary, especially for US citizens. The gold was removed by secret flights in unrecorded and unidentified planes. Only a small amount was removed from Ottawa, it being collateral damage. What on Earth has that Orange McNugget done to the world?
This comes from a Substack called I ***king Love Australia. Please do not ask me what a Substack is, nor Discord. I do not know. The former requires and age check here, and Discord confuses me. I am just getting to understanding Reddit, quite a useful site but also one that should have age restrictions. Actually, I think it does.
Experts also say the recent spike in bond yields reflects rising concerns about the immense levels of debt across the developed world and, especially, in the United States.
The American government is spending more money on servicing its US$40tn debt pile than it is on defence. In fact, net interest payments of US$1.2tn a year make it the second biggest spending item in the US budget.
Nobody thinks the Americans are about to default on their debt, but the developed world’s borrowing burden is chipping away at trust in governments’ capacity to manage their budgets, and bond investors are demanding a higher interest rate to account for that.
- Crisis Preparedness: The Dutch central bank explicitly stated the move was made to handle "increasing geopolitical unrest" and ensure the country is better prepared for severe global crises. [1, 2]
- Market Liquidity: London hosts the world's largest over-the-counter gold market. Keeping the gold in the Bank of England vaults allows the Netherlands to buy, sell, or trade the bullion much faster if an economic shock happens. [1, 2]
- Strategic Shift: This matches a broader trend of European nations pulling assets out of the US; France similarly removed its gold reserves from US soil earlier in the
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Interesting 😇🙏🌈
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