I thought I was the only one, when it comes to protecting one's assets, has been worried about geopolitical risks. As it turns out, the Dutch central bank shifted the location of 78 metric tons of gold, valued a $11 billion at today’s prices, from vaults beneath the streets of Manhattan to London, saying it would improve the ability to trade the metal in a pinch. The high-security operation took several months to pull off. Some of the gold was sold in the U.S. and repurchased in the U.K. Other bars were flown to Europe, likely in the storage hold of planes. The result: Almost a third of the Dutch gold reserve is in London and a still chunky 19% in New York, flipping their earlier positions. “In view of increasing geo-political unrest, DNB is strengthening its crisis preparedness,” the central bank said in a statement referring to its Dutch acronym.
[EOP]
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