Donald Trump’s tariff statements and actions have had a variety of unintended consequences. Not only has the price of gold hit record amounts in US dollar terms, but Germany and Italy are considering relocating gold stored in the United States to their own nations:

Gold: Germany (and Now Italy) Want $245 Billion Back
25 June 2025
Recall back in April of this year … Germany had a nascent but growing movement to repatriate its Gold from the US. Of chief importance was the longstanding assumption that Germany’s gold reserves were safe in New York is no longer taken for granted. Political shifts in Washington, public calls for increased transparency, and broader concerns about U.S. reserve integrity are prompting parts of Berlin’s political establishment to reassess the wisdom of maintaining large-scale gold holdings abroad. Turns out this is now a growing risk to global bullion markets spreading both internally in Germany and externally into Italy.

Yesterday, the Financial Times reported that Germany and Italy are under mounting pressure to move their gold reserves—currently held in New York—back to Europe. Concerns stem from geopolitical instability and repeated political interference by former U.S. President Donald Trump in Federal Reserve policy.

Germany and Italy hold the second- and third-largest official gold reserves in the world (3,352 and 2,452 tonnes respectively), and each stores over a third of that in the vaults of the New York Federal Reserve. The total combined market value exceeds $245 billion, according to FT estimates.

Critics across Europe are questioning the prudence of outsourcing custody to the U.S., particularly under the specter of political volatility. Fabio De Masi of Germany’s BSW party told the Financial Times that relocating gold to Europe during “turbulent times” is a logical risk-management step. Former conservative MP Peter Gauweiler echoed this, noting the Bundesbank must re-evaluate the security and stability of foreign storage. …

Italy’s Giorgia Meloni, who once vowed to repatriate Italy’s bullion, has since taken a more muted stance as Prime Minister. Her party now calls the gold’s location “of relative importance.”
“Gold is an asset of last resort for central banks. It needs to be stored without any third-party risk.” — Peter Boehringer, AfD MP https://www.zerohedge.com/news/2025-06-25/gold-germany-and-now-italy-want-245-billion-back

Here is something from earlier this year about gold and Germany:

Desperate in Deutschland
April 1, 2025
Germany has the second-largest gold reserves in the world (on paper, at least). The country’s official holdings clock in at 3,352 tons, behind only the United States’ 8,133 tons.
About 37% of Germany’s gold, 1,236 tons, is held by the New York Federal Reserve. The gold was moved to the U.S. for safekeeping in the aftermath of WW2, when the threat of Soviet tanks charging through the Fulda Gap loomed large.
Back in 2013, German politicians first raised a stink about bringing their gold back home. By 2017 a decent chunk the nation’s gold had been returned to Germany’s central bank, mostly from France and England.
Only about 300 tons of that came from the NY Fed, which brings us to today, when more than a third of German gold still sits in NY Fed vaults beneath Manhattan.
Today German conservatives are once again lobbying to at least be able to inspect their reserves at the NY Fed, which they still haven’t been able to do.
Here’s a recent quote by Michael Jager, of the European Taxpayers Association. From the German tabloid Bild:
The Bundesbank and the German government must demonstrate foresight in this phase of global power shifts and immediately retrieve German gold from the USA. Especially at a time when Berlin and Brussels are discussing immense new debt, we need immediate access to all gold reserves in an emergency.
That quote is from a Bild article dramatically titled Bring our gold back from the USA immediately!: …
Governments are no longer as trusting when it comes to gold reserves held by foreign central banks.
This is yet another signal that we are nearing the end of this period of fiat currency dominance. https://dailyreckoning.com/desperate-in-deutschland/

Germany thought about doing more of this back in 2020 if Donald Trump were to be re-elected then:

Will Germany Repatriate its Gold From New York If Trump Wins the Election?
October 28, 2020
During the Trump administration political ties between the U.S. and Germany have critically deteriorated. Recently, the U.S. imposed sanctions on companies working on Nord Stream 2, and announced to withdraw 12,000 troops from Germany. In 2013, when Germany repatriated gold from the U.S., the Germans communicated: we will not be threatened.

Gold is a political metal. “Whoever has the gold makes the rules,” as the saying goes. Because gold serves as the backstop of the international financial system, the global distribution of gold influences the balance of power. This is true for gold ownership, but it also applies to storage locations. The more of its gold reserves Germany stores at the Federal Reserve Bank of New York, the more leverage the U.S. has over Germany. …

Since the launch of the Eurosystem Germany has been repatriating gold. Currently, Germany has 1,698 tonnes (50%) stored on its own soil, 1,236 tonnes (37%) stored in the U.S., and 432 tonnes (13%) in the U.K. Officially, Germany has the second largest gold reserves in the world at 3,366 tonnes. …

Germans are no fan of Trump. The annual “The Fears of the Germans” survey, performed by R+V Versicherung, shows that in 2020 the people in Germany fear nothing more than Trump’s foreign policy. …

Germany might be waiting for the elections in the U.S., because Biden can change America’s foreign policy. If Trump wins, and trans-Atlantic alliances further deteriorate, I wouldn’t be surprised if Germany brings more gold home. The consequences will be significant. One, if Germany repatriates because of a political dispute, this can incentivize other countries to repatriate from New York as well, causing a run on the Fed. Second, Germany would emphasize the importance of gold, which hurts the credibility of the dollar. https://www.zerohedge.com/commodities/will-germany-repatriate-its-gold-new-york-if-trump-wins-election

As far as gold goes, notice something from my latest book available at Amazon Kindle: Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? as well as Amazon print Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies?:

Since many are now questioning the role of the USA dollar as the world’s reserve currency, more are looking into other currencies as well as gold.
Gold will set records in U.S. dollar terms. … gold will set further records in U.S. dollar terms in the relatively near future.
It has been asserted that:
The only replacement for fiat {currency} is a currency credibly backed by gold.[i]
Although the above can be debated, the reality is after the elimination of the USA and the crash of its dollar, the world will want something more stable than unbacked currency. Thus, it is likely that some type of gold-backed currency will emerge as the preferred reserve currency in the world.
It has long been reported that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”[ii] Various steps were also taken in 2022 and 2024.[iii]
When the U.S. dollar totally collapses people all around the world will consider that even if the euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the USA dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar or various other currencies.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied. (pp. 205-207)
[i] MacLeod A. Designing a new currency is impractical. Goldmoney Insights, March 24, 2022
[ii] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
[iii] Guistra F. Why the U.S. dollar will be replaced as the dominant global currency — sooner than you think. Toronto Star, July 5, 2022; Bezek I, Duggan W. De-Dollarization: What Would Happen if the Dollar Lost Reserve Currency Status? US News & World Report, November 2024
(Thiel B. Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Nazarene Books, 2025, pp. 205-207)

And we have already seen gold hit a record price multiple times since that book came out in mid-January 2025.

While I am NOT a “gold bug” as I understand how some define that term, Bible prophecy shows that gold and silver will have value into at least part of the Great Tribulation–which means it will have value AFTER the USA dollar is done.

Notice the following prophecies related to the coming European (at least partially German per Isaiah 10:5-12) King of the North:

37 He shall regard neither the God of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
40 “At the time of the end the king of the South shall attack him; and the king of the North shall come against him like a whirlwind, with chariots, horsemen, and with many ships; and he shall enter the countries, overwhelm them, and pass through. 41 He shall also enter the Glorious Land, and many countries shall be overthrown; but these shall escape from his hand: Edom, Moab, and the prominent people of Ammon. 42 He shall stretch out his hand against the countries, and the land of Egypt shall not escape. 43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; (Daniel 11:37-43)

If gold and silver were of no value then, then they would not be precious (see also Zechariah 14:13-14) to the King of the North. The Bible clearly shows that gold and silver will be of value into the time of the final Babylon (Revelation 18:11-16). It may well be that the King of the North will realize that his currency needs more gold-backing as the collapsing of the USA dollar will likely send shockwaves against other paper currencies. Gold will help stabilize whatever currency he is supporting. He even may start amassing gold prior to the invasion of the USA (Daniel 11:37-39), but will clearly do so afterwards when he invades the King of the South (Daniel 11:40-43).

The fact that more in Germany want to repatriate gold is consistent with those prophecies in the Book of Daniel.

Shortly after Donald Trump became USA president, the Continuing Church of God put out the following video on our Bible News Prophecy YouTube channel:

Germany, Gold, and the US Dollar

In February 2017, Germany announced that it repatriated more of its gold three years ahead of schedule. Why would Germany do this? Are various nations accumulating gold with the intention to dethrone the US dollar as the world’s reserve currency? Will the US dollar ever collapse? Does the Bible teach that gold will have value after the currency of the USA is no more? Will gold deliver people in the end? What does the Bible teach?

Here is a link to our video: Germany, Gold, and the US Dollar.

So, yes it is interesting that the idea that Germany may repatriate more of its gold.

Germany, and much of the rest of Europe, is in the process of decoupling more and more from the USA.

Related Items:

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Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Is Donald Trump going to save the USA or are there going to be many disastrous unintended consequences of his statements and policies? What will happen. The link takes you to a book available at Amazon.com.
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