So far, not much beyond Taco pitching a typical trumppler temper tantrum. He is livid that Germany and Italy want to remove nearly 250 BILLION dollars in gold owned by their respective countries.

They do not trust a multiple felon with the self control of a 2 year old and the trustworthiness of a convicted thief to keep their property secure. They know he is a corrupt criminal who would happily simply declare their gold now beings to the US (and make sure he gets a cut for himself). They can see how he bullies, threatens, lies, intimidates, and simply steals whatever he wants and they have good reason to be concerned about him attempting some kind of corrupt maneuver to keep them from accessing their property.

My bet is, he is going to find some way of attempting to pull a combination bribe/threat to force them to give HIM PERSONALLY control of at least a portion of their resource. Perhaps under the guise of forcing them to “donate” several hundred million to his “presidential library.” And if they try to refuse he will simply threaten to impose huge tariffs, withdraw some kind of support or interfere in some way with their countries’ security.

They need to make a VERY public demand so the entire world can start watching and the UN can have their hand involved in an effort to for a convicted criminal to give back property that is not his.

European nations, especially Germany and Italy are pushing to repatriate their gold reserves, quite simply because they no longer trust Trump. The trade war Trump has started has undermined global confidence in the dollar-based economy – part of the reason these thousands of tons of gold are held in the US is as a result of the Bretton Woods agreement of 1944, which established the US Dollar as the global reserve currency.

Basically, by asking for their gold back, Germany and Italy are essentially saying that they no longer trust the US Dollar, and need their own gold reserves to ensure confidence in the Euro – which is rapidly replacing the US Dollar as the preferred global financial medium of exchange.

Some US news services have made light of it, describing it as a kind of personal vote of no confidence in Trump – who, needless to say has thrown an almighty hissy fit about the whole thing. Not because he recognises the problem it represents for America, but because of the embarrassment to him personally.

.But it’s actually very, VERY dangerous for the US economy. Recently, Federal Reserve Bond auctions, where US T-bills are sold to support government borrowing, have seen falling bid-to-cover ratios and increasing yields – in other words, it’s become harder and more expensive for the US government to borrow money.

The US National Debt is at $37 trillion and rising, and 39 cents of every dollar collected in taxes is spent servicing it – paying the interest on America’s credit card in effect.

Trump’s “Big Beautiful Bill” will actually increase the national debt, while his tax cuts reduce government revenues. The Bond markets don’t think America can afford to borrow much more, and that’s why T-bills are getting harder to sell.

It’s also why the Europeans want their gold back – if the US were to default on it’s sovereign debt, the effect on the US economy will be absolutely catastrophic – and the Europeans want to be able to continue global trade based on the Euro when the US Dollar collapses.