It has been reported that Germany is facing calls to withdraw its gold reserves, worth billions of euros, which are deposited in vaults in the United States. This comes amid shifting transatlantic relations and the unpredictability of the President’s actions.
Germany possesses the world’s second-largest national gold reserve after the United States. Approximately 164 billion euros ($192.8 billion USD) of it – equivalent to 1,236 tons – is stored in the vaults of the US Federal Reserve.
In a statement, a prominent economist and former head of research at the German central bank (Bundesbank) called for the gold to be returned to Germany. He argued that keeping it in the United States under the current American administration involves “significant risks.”
This view was supported by the head of a European taxpayers’ association, who warned of Trump’s volatility and his desire to generate revenue by any means, which could threaten Germany’s future access to its assets.
These calls have reportedly begun to move beyond far-right circles, which have long advocated for this demand, and into the core of the political and economic debate among Germany’s main political forces. The financial spokesperson for the opposition Green Party stated that the gold must be protected before it becomes a hostage to international conflicts.
In contrast, the head of a German economic institute warned that such a move could “pour oil on the fire of the current situation.”
Voices within the Christian Democratic Union party have begun to question the reliability of the United States as a strategic partner under the current administration.
It was noted that Germany distributes its gold reserves, valued at 450 billion euros (about $532 billion), between Frankfurt (more than half), New York (37%), and London (12%).
Despite assurances from the President of the German central bank that there is no cause for concern, a growing number of members of the Christian Democratic Union and experts believe that the United States is no longer a reliable partner under the Trump administration.
Despite assurances from the government and the central bank that the gold is safe, voices within the Christian Democratic Union have begun to question the reliability of the United States and its role as a strategic partner under the current administration.
Donald Trump
Donald Trump is a businessman and media personality who served as the 45th President of the United States from 2017 to 2021. His presidency was marked by a populist and unconventional political style, significant tax reforms, and a focus on immigration restriction and “America First” foreign policy.
Air Force One
Air Force One is the official air traffic control call sign for any United States Air Force aircraft carrying the President of the United States. The most recognizable planes are two highly customized Boeing 747-200B series aircraft, which entered service in 1990 and are equipped with advanced security and communications systems to function as a mobile command center.
Shannon
Shannon is a town in County Clare, Ireland, best known for being the location of Shannon Airport, which opened in 1942. It gained historical significance as a key refueling stop for transatlantic flights and was home to the world’s first duty-free shop, established in 1947.
Ireland
Ireland is an island nation in northwestern Europe, historically shaped by Celtic culture, Viking settlements, and centuries of English rule, which culminated in the partition of the island in 1921. Its rich cultural heritage includes the Gaelic language, traditional music, and globally influential literary figures like James Joyce and W.B. Yeats. Notable historical sites range from ancient Neolithic monuments like Newgrange to medieval castles and monasteries that dot its landscape.
Joint Base Andrews
Joint Base Andrews is a major United States Air Force facility located in Maryland, serving as the primary airfield for presidential transport, most notably Air Force One. It was established in 2003 through the merger of the former Andrews Air Force Base and Naval Air Facility Washington, with the Andrews name originating from its 1945 founding, which honored Lieutenant General Frank M. Andrews, a pioneer in American military aviation.
Maryland
Maryland is a U.S. state founded in 1632 as an English colony and proprietary province for the Catholic Calvert family, intended as a haven for religious tolerance. It played a pivotal role in early American history, with its state capital, Annapolis, serving as the temporary U.S. capital in the 1780s and the site of the 1786 Annapolis Convention.
Germany
Germany is a country in Central Europe with a complex history, having been a collection of states for centuries before unifying into a nation-state in 1871. Its 20th-century history was profoundly shaped by both World Wars and the subsequent Cold War division, which ended with the peaceful reunification of East and West Germany in 1990. Today, it is a leading economic power and a federal parliamentary republic known for its rich cultural heritage in philosophy, music, and science.
United States
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, with its modern government established by the Constitution in 1789. Its history encompasses westward expansion, the Civil War, industrialization, and its emergence as a global superpower in the 20th century. The nation is defined by its diverse cultural heritage, democratic institutions, and significant global influence across political, economic, and cultural spheres.
US Federal Reserve
The US Federal Reserve, established in 1913, is the central banking system of the United States, created to provide a safer and more stable monetary and financial system. It conducts national monetary policy, supervises and regulates banks, and works to maintain the stability of the financial system.
Bundesbank
The Bundesbank is the central bank of Germany, established in 1957 to manage the country’s monetary policy and ensure currency stability. It played a pivotal role in the success of the Deutsche Mark and now operates within the framework of the European Central Bank and the Eurosystem.
European taxpayers’ association
The European Taxpayers’ Association is a non-profit organization that advocates for the interests of taxpayers across Europe, promoting fiscal responsibility, transparency, and efficiency in public spending. It was established to represent citizens’ concerns regarding taxation and government expenditure at a European Union level.
Green Party
The Green Party is a political movement focused on environmentalism, social justice, and grassroots democracy, originating from environmental activism in the late 1970s and early 1980s. The first major Green Party was founded in West Germany in 1980, and similar parties have since been established worldwide, often achieving parliamentary representation.
Christian Democratic Union
The Christian Democratic Union (CDU) is a major centre-right political party in Germany, founded in 1945 in the aftermath of World War II. It played a leading role in West Germany’s post-war reconstruction and reunification, with its first Chancellor, Konrad Adenauer, establishing its long-standing political influence.
Frankfurt
Frankfurt, officially Frankfurt am Main, is a major financial hub in central Germany with a skyline dominated by modern skyscrapers, earning it the nickname “Mainhattan.” Its history dates back to Roman settlements, and it served as a significant medieval trade center and the site for the election and coronation of Holy Roman Emperors. The city was heavily damaged during World War II but was meticulously reconstructed, including its iconic medieval Römerberg square.
New York
New York City, originally founded as New Amsterdam by Dutch colonists in 1624, became a major British colonial port before emerging as a global economic and cultural capital following American independence. It is renowned for iconic landmarks like the Statue of Liberty, Central Park, and its towering skyline dominated by skyscrapers such as the Empire State Building. The city’s diverse neighborhoods and institutions like Broadway and Wall Street have solidified its status as a leading center for finance, arts, and international diplomacy.
London
London is the capital of the United Kingdom, a major global city with a history spanning nearly two millennia since its founding by the Romans as Londinium. It has grown from a medieval trading hub into a centre of finance, culture, and politics, housing historic landmarks like the Tower of London and Westminster Abbey.
