European Taxpayers Association Demands the Return of German Gold from the USA

The European Taxpayers Association and several politicians from the CDU have demanded that part of the German gold stored in the USA be returned to the country as soon as possible. The reason for this demand, according to Bild, is the growing doubts about the stability of transatlantic relations and the independence of the U.S. Federal Reserve System. The matter concerns 37% of Germany’s gold reserves – approximately 1,250 tons of bullion worth over 100 billion euros, stored in vaults in New York. “Everyone could read in recent weeks that Donald Trump questioned the independence of the Federal Reserve because it did not yield to his demands and refused to lower the key interest rate,” said Michael Jager, head of the European Taxpayers Association, in an interview with BILD. He sent open letters of warning to Bundesbank President Joachim Nagel and Finance Minister Lars Klingbeil. “German gold will sooner or later attract the interest of the Trump administration. In a year or two, it might simply disappear. It must be brought back before it’s too late,” Jager added.