Why Nations Are Moving Gold Out of the U.S. and Back Home
Why Nations Are Moving Gold Out of the U.S. and Back Home | Peter Boehringer
Kitco News: 6-26-2025
Central banks around the world are accelerating a quiet but powerful shift — pulling their gold reserves out of U.S. and foreign custody.
Germany led this move over a decade ago, repatriating 674 tonnes of gold from the Federal Reserve and Banque de France. Now others are following. Why?
In this exclusive Kitco News interview, Jeremy Szafron speaks with Peter Boehringer, Member of the German Bundestag and former Chair of the Budget Committee, who spearheaded Germany’s gold repatriation.
Boehringer breaks down why trust, control, and monetary sovereignty are pushing countries to rethink their reserve strategies — and why this trend is only gaining speed in 2025.
Key topics:
-Germany’s gold repatriation: why it began and how it unfolded
-The risks of outsourcing custody to the U.S. and U.K.
-OMFIF 2025 survey: 70% of central banks cite U.S. instability as a concern
-Why more central banks are buying gold and reducing dollar exposure
-Is a sovereign gold movement underway?
-Could gold become a new anchor of credibility in a fragmenting world?
-The future of the euro, digital currencies, and Bitcoin in national reserves
00:00 Introduction
01:57 Germany's Gold Repatriation
04:05 Concerns About Foreign Gold Custody
07:21 Audit and Transparency Issues
13:32 Global Gold Movement
18:25 Euro and Global Reserve Dynamics
21:12 Germany's Fiscal Policy and Gold Reserves
23:50 Germany's Missed Gold Opportunity
24:54 Bitcoin vs. Gold: A Libertarian Perspective
25:18 The Future of Sovereign Crypto Reserves
25:48 Gold's Historical Value and Bitcoin's Uncertainty
27:25 Challenges of Using Gold to Offset National Debt
30:43 The Independence of Central Banks
32:14 The Case for a European Gold Depository
36:44 Central Bank Digital Currencies: A Dystopian Future?
42:06 Public Influence on Gold Repatriation
43:25 Gold Market Dynamics and Central Bank Strategies
44:43 Conclusion