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'Bank of England should have been worried years ago': US economist issues warning over withdrawal of gold from Britain's vaults

Summary by GB News
A US economist has warned that the Bank of England and other central banks "should have started getting worried several years ago" after at least two banks withdrew gold bullion from the vaults and sent it to the US.Anticipating fears of a trade war under President Donald Trump, JPMorgan and HSBC began withdrawing gold bullion from the Bank of England and shipping it across the Atlantic, according to the Wall Street Journal.Roughly 8,000 bars of…

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GB NewsGB News

'Bank of England should have been worried years ago': US economist issues warning over withdrawal of gold from Britain's vaults

A US economist has warned that the Bank of England and other central banks "should have started getting worried several years ago" after at least two banks withdrew gold bullion from the vaults and sent it to the US.Anticipating fears of a trade war under President Donald Trump, JPMorgan and HSBC began withdrawing gold bullion from the Bank of England and shipping it across the Atlantic, according to the Wall Street Journal.Roughly 8,000 bars of…

·London, United Kingdom
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American BankerAmerican Banker

Banks aren't as worried as they should be

President Trump's concerted effort to bring the entirety of the executive branch under his direct control defies tradition, and in some cases, likely the law. Banks have thus far voiced little objection, but they should know how critical the rule of law is to their bottom line.

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American Banker broke the news in on Friday, February 21, 2025.
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