According to The Telegraph, a number of senior officials in the Christian Democratic Union (CDU) Party of Germany, who are set to lead the next German Government in the Bundestag, are considering the removal of all remaining 1,200 tons of its massive gold reserve, the second largest in the world behind the United States, from an underground vault at the U.S. Federal Reserve in New York City. Both current and former Officials with the CDU have stated considerations are ongoing about the removal of the gold from the U.S. Federal Reserve, which is believed to be worth about €113 billion and accounts for 30% of the country’s gold reserves worldwide, due to concerns that Washington is “no longer a reliable partner” to Germany.
