The German Taxpayers Union has called for the return of Germany’s gold reserves from the United States to Germany as soon as possible, following US President Donald Trump’s unexpected policies.
“The time has come to return Germany’s money from the United States,” Michael Jaeger, vice president of the German Taxpayers’ Union, said in a statement to the Bavarian Media Group newspaper. He pointed out that confidence in the United States has been severely damaged by President Trump’s policies.
The size of Germany’s gold reserves amounted to approximately 3,352 tons at the end of 2024. The German central bank said more than half of this gold was held in its own safe in Frankfurt, while about 37%, or 1,236 tonnes, was held at the Federal Reserve Bank of New York.
additional income
Deutsche Bundesbank President Joachim Nagel sees no reason to return Germany’s gold reserves from the United States. “There can be no doubt that our money is safely stored at the Federal Reserve in New York,” he concluded in a statement to the Frankfurter Allgemeine Zeitung newspaper.
Meanwhile, Yeager noted that the United States pays $1 trillion in interest each year on the growing government debt, and while it is important for President Trump to achieve additional revenue at all costs, including raising tariffs, it is not enough.
The German Taxpayers Union has called for Germany’s gold reserves to be repatriated from the United States as soon as possible in response to US President Donald Trump’s unpredictable policies.
“It’s time to take Germany’s money back from the United States,” Michael Jaeger, vice president of the German Taxpayers’ Union, said in comments to the Bavarian Media Group. He pointed out that President Trump’s policies have seriously undermined trust in the United States.
Germany’s gold reserves amounted to approximately 3,352 tonnes at the end of 2024. More than half of this gold is held in its own safe in Frankfurt, Germany’s central bank said, while about 37%, or 1,236 tonnes, is held at the Federal Reserve Bank of New York.
additional revenue
Germany’s central bank president Joachim Nagel sees no reason to repatriate Germany’s gold reserves from the United States. “There is no doubt that our money is safely stored at the Federal Reserve in New York,” he said in a recent interview with the Frankfurter Allgemeine Zeitung.
By contrast, Yeager noted that the U.S. pays $1 trillion a year in interest on its growing government debt, and while it’s important for President Trump to generate additional revenue at all costs, such as through higher tariffs, that alone won’t be enough.
