Typically they move gold to allies when it’s safer to keep the reserves away (e.g., it’s really hard to imagine the US getting invaded, but that happened to almost all European countries in the last century or so) or when politics become unstable. They take the gold back when the calculus changes. Famously, France got a chunk of its gold back from the US in the 1979s (and finished that process this year).
oh thanks! wasn't lazyness but looking for exactly this type of context from somebody else.
based on that and the link, we can say that it's a process started long time ago and now simply accelerating and escalating after Ukrainian conflict and confiscation of a european partner assets?
shouldn't the risk of confiscation ,when having resources held abroad and in other jurosdiction always be considered?
I was pretty much surprised when Bank of England said Venezuelan gold was not Venezuelan gold anymore and took it hostage, then what is the sense of having it abroad if the abroad partner can switch idea of ownership anytime?
Typically they move gold to allies when it’s safer to keep the reserves away (e.g., it’s really hard to imagine the US getting invaded, but that happened to almost all European countries in the last century or so) or when politics become unstable. They take the gold back when the calculus changes. Famously, France got a chunk of its gold back from the US in the 1979s (and finished that process this year).
The rabbit hole goes quite deep: https://en.wikipedia.org/wiki/Gold_repatriation .
oh thanks! wasn't lazyness but looking for exactly this type of context from somebody else.
based on that and the link, we can say that it's a process started long time ago and now simply accelerating and escalating after Ukrainian conflict and confiscation of a european partner assets?
shouldn't the risk of confiscation ,when having resources held abroad and in other jurosdiction always be considered?
I was pretty much surprised when Bank of England said Venezuelan gold was not Venezuelan gold anymore and took it hostage, then what is the sense of having it abroad if the abroad partner can switch idea of ownership anytime?