alt Hacker NewsI am dutch and read the news this week but I found it weird that a part of it went to England. I was expecting a European country.
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London has an old school gold exchange. Pretty much you can buy and sell by moving a part between vaults (at least that's how I understood it to work in the past). Now I expect it to be just a spreadsheet but who knows.
England is a European country. Just not EU.
I’m surprised why they don’t just move it back to their own country and put it in a safe in Netherland.
England is definitely a European country. I'm tired of people constantly making this political abuse of language of conflating "the EU" with "Europe".
(And yes, saying "America" for "US of A" annoys me too. First step towards losing an imperialist state of mind is letting people from Canada and Brazil be in America).
The narrative is that the continent is going to be overrun by Russia (at the rate of mile per year like in Ukraine). So the elites think they need the gold in London to pay for their exile government luxury.
Their goal isn't only safe storage, it's also being able to sell when needed.
You can't quickly trade with the gold that's in their own safe storage facility in Zeist, because you would need to physically transport it. The reserve at the Bank of England is put there because there is a large market for gold trading there. So you can use the gold immediately to influence the markets.
Putting it in a safe place in another European country wouldn't have added value over storage in Zeist.