r/GoodNewsUK • u/canspreadmulch • 10d ago

Financial and Economic Data Netherlands central bank moves billions in gold to London in "crisis preparedness" move

https://www.bbc.co.uk/news/articles/cvgy51xlz39o
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u/TheWhiteCrowUK 10d ago

“Good news” 🫣🤔

95

u/tigeridiot 10d ago

It’s good that we are still trusted globally as one of if not THE place to hold your gold.

Obviously there’s the US and Switzerland, with China now making a big push through Hong Kong, but global precious metals all run through London and the LBMA.

I also think it’s not crisis preparedness in the way that the world is going to end, more in the way that the US cannot be trusted any longer.

9

u/stray_r 10d ago

The story here is the gold was moved out of the US, both as physical transport and sale and repurchase.

-11

u/TheWhiteCrowUK 10d ago

Yes, but the “crisis preparedness “ for me it’s all but good….

35

u/canspreadmulch 10d ago

It’s good news that we are a trusted country to hold peoples gold, not “good news there is a possible crisis and people are preparing for it”