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 😇🙏🌈
ReplyDeleteI don't completely understand it all but it's scary as hell and the fat felon is bankrupting my country. That last part I do know.
ReplyDeleteDefinitely not a good thing.
ReplyDeleteIt is not a good thing for my country, but a very wise move for the Netherlands. The sentence that got me was 'Nobody thinks the US will default...' I do. If things to not turn, I honestly do not understand how we can avoid that. I hope very much that I am wrong
ReplyDeleteOne has to purchase physical gold instead of paper gold
ReplyDeleteAndrew i miss translate:((
ReplyDeleteGood day, Andreja!
I had heard of France removing its Gold, but not this latest removal, since some idiots, sorry, people, seem to think 6pm is a perfect time to phone me or knock on my door "just to say Hello" (for 45 minutes!!), so I miss a lot of the news. With all the trouble in the US and those wars, I think it's a good thing other countries are removing their gold to a safer place.
ReplyDeleteThankfully, all my gold bullion is already safely stored. I shan't tell you about its secret hiding place in my freezer.
ReplyDeleteLol.
DeleteI have been educated reading this post Andrew. Amazing and hopefully the gold is safer now.
ReplyDeleteYou've lost me there old chap! You are delving into territory that is beyond my comprehension. However, I am impressed by your superior financial and economic knowledge. For the foreseeable future I will stick with poems, boiled eggs and country walks. When all is said and done, I am a simple soul.
ReplyDeleteDisingenuous of you YP.
DeleteInteresting -- I hadn't heard that about the gold being withdrawn from the USA. I'm not surprised, though. Given Trump's hostility toward Europe, why would those countries want to store their gold in American vaults?
ReplyDeleteJust something else to wonder about, Andrew. It is a scary world out there.
ReplyDelete47 is using the us taxpayers to bankroll his lifestyle and that of the other billiionaires, and building monuments to himself while the country falls apart and the debt skyrockets.
ReplyDeleteI think a substack is a modern version of blogging.
ReplyDeleteWith less style, James.
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