Latest news with #WesternWorld
Yahoo
3 days ago
- Business
- Yahoo
Germany stores 1,200 tons of gold at the Fed—now Trump fears are sparking repatriation demands
Ever since the end of the Second World War in 1945, a rehabilitated Germany has built close ties to the U.S. and committed to Western democratic values. The country has put its money—or rather, its gold—where its mouth is. That financial commitment to the U.S. is now being put to the test, as calls from within Germany grow louder to pull the country's vast stock of gold reserves out of the Federal Reserve. Germany has the world's second-highest stockpile of official gold reserves, at 3,352 tons. More than a third of that, around 1,200 tons, is stored in the Fed, equivalent to about $130 billion in value. Yet President Donald Trump's adversarial rhetoric against the country and its allies has prompted calls to check on those reserves, and, if possible, bring them home. Following the Second World War, Germany had effectively depleted its gold reserves to fund its various conflicts. The blank slate on which the country built up its fresh batch of reserves mirrored the country's new diplomatic strategy. Germany prioritized moving vast amounts of gold out of the country and far from the Soviet Union, fearing for its status during the Cold War. The country's close ties with the U.S., which has historically held up the Western World order, made the Fed an obvious resting place for the commodity. In a whirlwind opening salvo to his presidency, though, Trump has rocked the established geopolitical order, slapping import tariffs on traditional allies like the European Union and threatening to take control of the territory of Greenland by force. Germany has also been prompted into a multibillion-dollar pledge to beef up its military, partly motivated by Trump's rhetoric on NATO and the war in Ukraine. Several voices across Germany now believe the U.S. is no longer a safe haven for its multibillion-dollar gold reserves. Speaking to German publication Bild last month, Christian Democratic Union politician Markus Ferber said: 'I demand regular checks of Germany's gold reserves. Official representatives of the Bundesbank must personally count the bars and document their results.' In a follow up interview with Reuters, Ferber said: 'Trump is erratic and one cannot rule out that someday he will come up with creative ideas how to treat foreign gold reserves. 'The Bundesbank's policy for gold reserves has to reflect the new geopolitical realities.' Ferber's latest comments came as the German Taxpayers Federation sent a letter to the Bundesbank asking for Germany's central bank, the Bundesbank, to repatriate the country's gold. 'Trump wants to control the Fed, which would also mean controlling the German gold reserves in the U.S,' the federation's vice-president, Michael Jaeger, told Reuters. 'It's our money, it should be brought back.' To date, the Bundesbank has been careful not to ruffle feathers in the U.S. with regard to the status of its gold reserves, publicly backing the Fed as a protector of its assets. Countries have been taking different approaches to how they think about the location of their gold since Trump. Indeed, many nations have decided to create closer ties between their assets and the country to avoid negative repercussions. In late January, the FT reported that waiting times to get gold out of the Bank of England had increased eightfold as countries rushed to get their reserves across to the U.S. to safeguard the commodity from potential tariffs. Germany itself holds about 13% of its gold reserves at the Bank of England. This story was originally featured on
Daily Mail
5 days ago
- Health
- Daily Mail
EXCLUSIVE Rampage killings have become commonplace and drugs like cannabis are to blame - PETER HITCHENS tells SARAH VINE on provocative Mail podcast
Rampage killings have become commonplace throughout the Western world and the normalisation of mind-altering drugs is to blame, acclaimed broadcaster Peter Hitchens argued on the latest episode of the Mail's Alas Vine & Hitchens podcast. Responding to events in Liverpool on Monday, where a 53-year-old man allegedly high on drugs drove his car into a group of celebrating football fans, Hitchens said more must be done to restrict access to substances with the potential to cause 'madness'. A rampage killing is a specific type of mass murder where an individual kills several innocent people in a relatively short period of time. 'It is common now, in almost every major society in the world, that we get rampage killings', Hitchens said. 'It is incessant. It happens all the time. It never used to happen – and I think I know why. What has fundamentally changed since the 1950s and 60s? 'Crazy individuals are quite uncommon. Usually, madness is connected to some form of brain injury, which is either caused by serious head trauma or a disease. Or a third thing, drugs. 'Anders Brevik was a steroid user. The man who went wild in several Mosques in New Zealand was also on steroids. 'Drugs like steroids, SSRIs, antidepressants, and marijuana are often in the recent backstories of people who do these things. It's very hard to find these things out because the authorities aren't interested. 'There's a huge reluctance in our society to admit that there is a correlation between these things and drugs. There is an immense marijuana lobby – the other drugs have their lobbies as well. 'Particularly, there is a reluctance to admit any connection between the use of marijuana and insane violence.' Metanalyses conducted in America have shown a tenuous link between cannabis use and the propensity to commit violent crimes. However, other studies conducted in the wake of legalisation in certain US states have shown the opposite – with violence decreasing where dispensaries open. Mail columnist Sarah Vine disagreed with her co-host, arguing that psychotic people often seek out drugs and it is not the substances themselves that account for the perpetuator's underlying mental illness. She also emphasised that the prohibition of drugs like cannabis creates a black market actively incentivised to sell a more potent product. However, Vine concurred that the power of cannabis to stir mental illness has been downplayed in wider society. 'People think that because cannabis isn't chemically addictive, it isn't dangerous', Vine began. 'But it is highly psychologically addictive – I have friends that were heavy smokers that when they tried to quit, they went mad.' Hitchens compared the light policing of cannabis in the West to countries like South Korea, Japan, and China, making the point that Asia sees very few of these rampage-style killings. He argued: 'In South Korea, these things just do not happen because the possession of marijuana is still considered a crime. 'Asian governments have rejected the propaganda – if you're a public figure and you're caught with it, you do not merely go to jail, you are discredited. 'You are out of public life forever because it is seen as a shameful thing to do, as it ought to be. 'The people that promote it should also face shame because they are ruining lives. It is not a victimless crime – the family of a person who becomes permanently ill because of marijuana use is a family full of grief for the next 40 years. 'It ought to be punished – we must have it on our statute books that you are punished for possession.' To watch the full contentious debate, search for Alas Vine & Hitchens now, wherever you get your podcasts.
South China Morning Post
11-05-2025
- Entertainment
- South China Morning Post
What to see and eat in Melbourne's Chinatown, cultural hub that grew from gold rush roots
Chinatowns are often portrayed as gritty underworlds riddled with prostitution, gambling and drug trafficking. Some of this is rooted in truth, but that unfair depiction is largely the result of rampant xenophobia and cultural ignorance, especially in the West. Advertisement In a series of articles , the Post explores the historical and social significance of major Chinatowns around the world and the communities that shape them. In 1997, Hong Kong martial arts legend Jackie Chan starred in the action comedy Mr Nice Guy as a celebrity chef who unwittingly gets embroiled in a war between criminal gangs. Directed by Hong Kong's Sammo Hung Kam-bo , the English-language film was set in Melbourne and is packed with scenes of Chan showing off his typically acrobatic fighting style across the Australian city. Some scenes were shot near the laneways and distinctive arches of Melbourne's Chinatown that, after more than 160 years of boom and bust, is one of the oldest continuously occupied Chinese settlements in the Western world.
Arab News
11-05-2025
- Business
- Arab News
A new era of US-Middle East grand strategy
Some view US President Donald Trump as the pioneer of transactional relationships. That may be partially true, but in reality, a series of transactional deals can lay the foundation for a new and enduring strategic vision. The era of the US focusing on meaningless idealism, at least in its Middle East policy, is over. And even if a future Democratic administration eventually takes power, that shift will be hard to reverse. The golden rule for any government should be simple: Serve the national interest. Yet, the concern with previous US administrations was that they often appeared to willingly make decisions that ran directly against America's core interests, especially in the Middle East. Some of this could be chalked up to incompetence or ignorance. But the greater fear is that it was intentional, driven by the rise of global far-left agendas that harbored resentment toward their own country's history, conduct, and identity. We have witnessed grievance politics, 'woke' ideology, and an all-out war against family values, faith, and basic common sense — a new radical version of postmodernism that perhaps deserves to be called the 'post-common-sense era.' Despite fierce criticism, the Trump administration arguably saved the US — and by extension the broader Western world — from falling into that abyss. It did so by enacting dramatic course corrections to stabilize America's future trajectory. Now, four months into his second term, Trump is doubling down on this approach, particularly in the Middle East. In regional policy, the US leader has remained clear-eyed, and impatient with rigid bureaucracy. He wants real, immediate change, not decades of incremental steps that often lead nowhere. One major obstacle to US interests in the region has long been the Israeli-Palestinian conflict. While the US has maintained strong relations with most Middle Eastern countries, the potential for deeper, more beneficial partnerships has been limited by this unresolved dispute, which fueled widespread distrust and resentment across the region. Trump now has a chance to deliver one of the most historic achievements of the 21st century: finally ending the Israeli-Palestinian conflict — not by endless negotiations that lead nowhere, but by pushing both sides toward a lasting peace. Such a breakthrough would not only strengthen US interests and regional stability, but also would deal a devastating blow to the extremists and radicals who have always thrived on chaos and hatred. Trump wants real, immediate change, not decades of incremental steps that often lead nowhere. Salman Al-Ansari This would also be a service to Israeli citizens, liberating them from the dangerous self-destructive policies of their own extreme leadership. Trump understands the language of prosperity. And prosperity cannot happen without security. He knows that for economic growth to flourish, peace must prevail. He will likely mobilize his network of right-wing American Jewish officials and business leaders to apply real pressure on the Israeli government — pressure that previous administrations hesitated to use. For years, some factions within Israel have exploited American goodwill without offering meaningful concessions in return. During his first term, Trump gave Israeli Prime Minister Benjamin Netanyahu unprecedented political support: He recognized Israeli sovereignty over the Golan Heights, moved the US Embassy to Jerusalem, endorsed Israeli settlements, brokered the Abraham Accords, and delivered major financial and military aid. No US president had done more. Yet Netanyahu responded with four major problems: no flexibility on Gaza, constant pressure to push the US into a war with Iran, reckless military adventures in Syria, and alleged interference in US political affairs. From Trump's perspective, the Israeli leader took everything and gave nothing meaningful back. Trump has now seen Netanyahu's true face, without filters. He also now clearly understands Saudi Arabia's longstanding position regarding the importance of resolving the Palestinian issue for lasting regional peace. The US president is unlikely to view Netanyahu as an asset anymore. Rather, he will see him as a free rider — a liability Washington can no longer afford if it is serious about an 'America First' foreign policy. That does not mean the US will abandon Israel; quite the opposite. True friendship means helping Israel avoid its own self-destruction and securing a future where it can peacefully coexist with its neighbors. Trump now has a golden opportunity to shift the longstanding dynamic of the US taking dictation from Israel on Middle Eastern affairs. Instead, he can reestablish an independent American foreign policy that serves American interests first. And, as history often shows, what is good for America tends to be good for the wider world as well. If a figure as bold as Trump cannot redirect this relationship, it is unlikely that any future American president can. As a historical reflection, many believe the US replaced Britain as the world's leading power immediately after the Second World War. But the true turning point came in 1956, during the Suez crisis, when the US forced Britain, France, and Israel to halt their aggression against Egypt. That moment redefined global perceptions of power. If the US still aspires to reclaim that kind of moral and strategic credibility, it must be willing to remind its allies, including Israel, of the natural order of partnership. In the end, that will not only protect American interests, but also safeguard Israel's future by saving it from the dangerous path charted by leaders like Netanyahu.
USA Today
07-02-2025
- Automotive
- USA Today
Tennessee whiskey, autos could suffer from Trump tariffs
Tennessee whiskey, autos could suffer from Trump tariffs Hi hi hello, I hope you are having a wonderful Friday. I'm gonna get off work and do my favorite thing: relax. I'm not sure what I'll do during this time, but right now I'm thinking a nice book and a cozy couch. Trump tariffs would hit Tennessee whiskey, auto industries most In a brewing trade war, some industries are hit harder than others. With the Trump administration implementing tariffs, pausing them and possibly not enforcing them, business leaders are worried. None of that is more true than for alcohol and auto leaders. In Tennessee, many businesses are awaiting direction with trepidation. "They're just going to have to wait and see what Canada does," said Steven Livingston, director of Middle Tennessee State University's Business and Economic Research Center. "Every time there's been a trade war, bourbon has been hit. It's such an American product." To read more reporting by Hadley Hitson and Mackensy Lunsford, follow the link here. More stories to read: 🏈 Super Bowl bites: Yum yum yum, check out these recipes for delicious dips and more to make your party shine. 🤠 Nashville expansion: Robert's Western World is gonna need bigger boots after its planned expansion. A second floor, a performance stage and more. Tennessee politics: Here's a roundup of political news across the state.
