EU Friday – 4 September

EU Friday – 4 September

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Welcome to Better Europe's weekly update on EU Affairs. GOLD IS GEOPOLITICS This week, the Dutch central bank quietly moved 86 tonnes of gold (worth around €10 billion) from the US and Canada to London, as a consequence of “increasing geopolitical unrest”. Even if the UK isn’t even in the EU anymore, physical proximity seems to matter. The Dutch claim they are concerned about access to their gold tout court — they simply want easier access to potential liquidity in times of crisis. The 32% of Dutch Gold now held in London, they argue, can be traded faster as it has overtaken New York as the world’s top foreign gold storage spot. However, that argument didn’t hold when France sold and re-bought 129 tonnes, moving 5% of its reserves from…
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