Iran israel ceasefire: America also intervened in the war between Iran and Israel. President Donald Trump claimed that both countries have agreed to ceasefire. Meanwhile, another shocking news has come out. Germany and Italy are facing a lot of pressure to take their gold out from New York. It is alleged that Trump repeatedly pressurizes the American Federal Reserve.
According to a report by ‘Financial Times’, former MP of Die Linke Party Fabio de Masi has said that there are many strong reasons to bring more gold in Europe or Germany in difficult times. According to World Gold Council data, Germany and Italy have the second and third largest gold reserves in the world after America.
Germany and Italy keep a large part of gold in New York
Germany has 3,352 tonnes and Italy has 2,452 tonnes of gold. Both countries keep more than one third of their gold in the Federal Reserve of New York. According to reports, the market price of their gold kept in the US is more than $ 245 billion. Actually New York is considered to be the biggest center of London as well as gold business.
Why Germany and Italy can take Gold back
Trump’s uncertain policies and increasing political instability around the world are promoting the debate of bringing gold back to parts of Europe. Earlier this month, the US President said that if the US Central Bank does not reduce the interest rates, then he may have to force them to do something. There is a lot of emphasis to withdraw gold in Germany. All political parties of the country agree on this issue.
Trump has reacted sharply to the US Federal Reserve Chairman Jerome Powell several times. They have been very unhappy about interest rates. Meanwhile, Iran and Israel started the war and America also jumped into it. Therefore, in view of all these reasons, pressure is being made on Germany and Itley to return gold.
