The security of German gold reserves overseeing abroad and especially in New York, until recently mainly a topic of debate on the country’s far -right party and gold investors, is a matter of public debate with Donald Trump’s return to the White House, comments on Reuters.

Bundesbank, German Central Bank, has the second Greater gold stock in the world, with 3,352 tonnes. One -third of this is stored in the Federal Bank of New York For reasons that fall into the Cold War and the monetary system created after World War II.

These stocks have occasionally attracted interest, and the Alternative for Germany (AfD) strongly supports calls for the return of the country’s gold to home.

US President Donald Trump’s controversy with long -term trade and security allies, and his attacks on the Fed (Federal Central Bank of the US), have revived the issue in recent weeks and more voices with greater prestige have been involved in the debate.

Germany’s taxpayers’ federation sent letters this week to Bundesbank and the Treasury inviting them to repatriate gold stored in the United States.

“Trump wants to control the Fed, something that would mean and control of German gold reserves in the US ‘, Michael Yagger, Vice -President of the Federation of Taxpayers, noted in Reuters. “It’s our money, they have to be returned.”

Marcus Ferber, a powerful member of the European Parliament for German Christian Democrats, said the United States “is no longer the reliable partner he once was.”

‘Creative ideas’

‘Trump is unpredictable And no one can rule out that one day he will think of ” creative ideas ” about how to handle foreign gold reserves “, He stated characteristically to Reuters. “Bundesbank’s policy on gold reserves must reflect new geopolitical realities.”

Public Broadcasting Channels ZDF and ARD have also recently broadcast reports asking how safe Germany’s gold is in New York.

However, Bundesbank said the New York Fed remains a “important storage site” for its gold.

“We have no doubt that in the New York Fed we have a trusted, credible partner for storing our gold reserves,” The Central Bank assured in response to a question by Reuters.

The German finance ministry referred to Reuters’ questions about the issue at the Central Bank, while stressing the Bundesbank’s independence.

Any indication that Germany may consider the possibility of transferring gold from New York would be politically sensitive, as it could be interpreted as a lack of confidence in the Fed and its independence.

The European Central Bank highlighted its confidence in the Fed as a credible partner last week. However, Trump’s frequent criticism of Fed President Jerome Powell, whose term expires in one year, has fueled some concerns about Fed’s future independence and her long -term commitments to her partners.

Peter Beringer, the architect of the original 10 -year campaign for gold and now AFD MP, said he felt justified that the issue of repatriation of gold reserves has now become a topic of discussion by the big media and other legislators.

“When I started asking for gold, they rejected me as a theoretical conspiracy,” he said. “Today, after Trump, they share my concerns.”

Germany accumulated most of its gold during the boom in exports of the 1950s-1960s. A key advantage of storing part in New York during the Cold War was to keep it safe from Russia in the event of an invasion.

Gold also established a military alliance with the United States, which still have dozens of military bases around Germany, including Europe’s largest.

Russian invasion changes the data

With the Soviet Union having long disappeared, Bundesbank repatriated 300 tons of gold From New York between 2014 and 2017, saying that he wanted to “build trust inside”.

But Russia’s invasion of Ukraine and the indirect threat it represents for the rest of Europe were likely to re -complicate Germany’s geopolitical calculations.

For Ferber, this emphasizes the need for greater differentiation in different, and possibly new, sites. Today, Germany’s gold reserves are kept at the Bundesbank headquarters in Frankfurt, New York and the Bank of England in London.

“For gold reserves, differentiation is the key. To have all the Eggs in very few baskets are never deliberate »; Ferber observed, without specifying where gold should be transferred.

Fritz Gudsler, a spokesman for the Christian Democrats in the German Parliament, said he has no reason not to trust the Fed, but the Bundesbank should continue to “regularly inspect” gold.

The Bundesbank said it conducted regular sampling checks and had inspected 13% of stocks in New York over the years.