This story is about one of the world’s largest gold hoards stored in one of the largest most secure vaults ever built. The French stored their 2,500 tons of gold in their secure underground vault in Paris. When the Germans began their offensive, the French started to remove its gold as a precaution. When the Maginot Line was breached and it was clear Paris would be overrun the remaining gold was rushed out of France. The gold traveled over thousands of miles in different directions by ship, train, truck, and airplane during WWII. So grab your Indiana Jones fedora and a globe so you can follow along.
[Related: Trump offered to buy Greenland from Denmark whose Prime Minister said th idea was “absurd.” -Bob]
By Reuters – Re-Blogged From IJR
Brexit Britain’s overtures to U.S. President Donald Trump risk further complicating the search for common ground this weekend at a Group of Seven summit already clouded by transatlantic rifts over trade, Iran and climate change.
The summit host, President Emmanuel Macron of France, has set the bar low for Biarritz to avoid a repeat of the fiasco last year when Trump threw Canada’s G7 summit into disarray by leaving early, scotching the final communique.
Macron, an ardent europhile and staunch defender of multilateralism, will count on incremental advances in areas where a united front can be presented, with the meeting, which runs from Saturday to Monday, officially focusing on the broad theme of reducing inequality.
During WWII the Germans were in need of money to buy foreign materials to conduct the war. It is estimated they stole almost 500 metric tons (around 16 million troy oz equal to $23 billion USD @ $1,450 / oz) from various governments. Most was taken from Belgium, the Netherlands, Austria and Czechoslovakia. The French gold (about 2,500 metric tons or 80 million troy oz) was saved from the Germans in a rather interesting story that I will save for later.
It is very roughly estimated that around 100 tons were passed through Switzerland and then sent to neutral countries to purchase goods. There are stories of the Vatican bank helping Germany to launder and store gold as well as the German gold train buried in a tunnel in Poland and secret gold transfers to Argentina. Those stories are undocumented and have been the subjects of speculation for decades.
It should have been no surprise that Boris Johnson is now Prime Minister. It should also be no surprise he will implement Brexit on 31 October, the last date agreed between Mrs May’s government and the EU. Johnson was elected by Conservative constituency members to do just that. His cabinet appointees are fully supportive, including ex-Remainers (that’s politics!) and he has appointed an aggressive rottweiler, Dominic Cummings, as his Brexit enforcer. Already, his influence over Brexit strategy can be detected. There are no compromises to be had, a point which slower minds in the commentariat find difficult to comprehend and accept.
It is likely there will be an agreement on the way forward after Brexit, which could involve a transition period, but nothing like that agreed with Mrs May. If, as seems unlikely, the EU digs its heels in, the UK will walk away. That is the message being given by the new administration.
By Frances Coppota – Re-Blogged From Forbes
Europe has found a way of circumventing U.S. sanctions on Iran. The governments of France, Germany and the United Kingdom have developed a special purpose vehicle (SPV) to enable European businesses to maintain non-dollar trade with Iran without breaking U.S. sanctions. That SPV, known as INSTEX, is now up and running.
The three governments announced the successful implementation of INSTEX at a meeting of the Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) on June 28, 2019. The meeting was chaired on behalf of the EU by the Secretary General of the European External Action Service (EEAS), Helga Schmid, and was attended by representatives of China, France, Germany, Russia, the United Kingdom, and Iran.
By Eric Worrall – Re-Blogged From WUWT
In the face of the utter failure of large investments in renewables to deliver CO2 reductions, greens are increasingly embracing nuclear power as the solution to climate change.
Nuclear Power Can Save the World
Expanding the technology is the fastest way to slash greenhouse gas emissions and decarbonize the economy.
By Joshua S. Goldstein, Staffan A. Qvist and Steven Pinker
Drs. Goldstein and Qvist are the authors of “A Bright Future: How Some Countries Have Solved Climate Change and the Rest Can Follow.” Dr. Pinker is a psychology professor at Harvard.
The recent collapse in world trade volume is the worst since the financial crisis and as dangerous as during the dot-com bubble of the early 2000s, according to The Telegraph.
Data from the CPB Netherlands Bureau for Economic Policy Analysis revealed that world trade volume dropped 1.8% in the three months to January compared to the preceding three months as a synchronized global downturn gained momentum.