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Germany may look to withdraw its gold from US (www.mining.com)

submitted 4 months ago by Sunshine@lemmy.ca to c/buyeuropean@feddit.uk

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[-] RidderSport@feddit.org 3 points 3 months ago

It's mostly a result of Bretton-Woods. Countries with a trade deficit had to pay those with a surplus -mostly in gold. And because shipping gold is expensive, that gold stayed in the USA. The German central bank had 24 tons in 1950 but 4000 tons by 1951.

[-] ctrl_alt_esc@lemmy.ml 1 points 3 months ago

Interesting, didn't know that about Bretton-Woods (or probably forgot), thanks for the info!

[-] RidderSport@feddit.org 1 points 3 months ago

Yeah me neither, Wikipedia reminded me, there's and entire entry to the acquisition of gold by the German government

this post was submitted on 07 Apr 2025

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