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Due to rising gold prices, the move helped the bank to generate a capital gain of €13 billion ($15 billion), bringing it to a net profit of €8.1 billion for the 2025 financial year after a net loss of €7.7 billion in 2024.
If they sold gold in New York to buy gold in Europe, how did they turn a profit? Is this some accounting magic I’m too poor to understand?
Well, in Accounting terms, once you sell your investment you have realized the gains on it (and if you’re a person or a company, are now liable to pay tax on those gains), even if you use the money from the sale to buy the same thing again.
Gains on an investment which hasn’t been sold yet are unrealized gains (in common parlance “paper gains”) and don’t really count in accounting terms until you sell that investment so you don’t have to pay tax on it.
Amongst other things billionaires use this to pay no tax when the share value of the companies they own goes up: if they need money rather than sell their share holdings they take loans using the shares as collateral, and because the shares aren’t sold any gains aren’t realized, hence no tax is due.
“they simply sold the older, less pure gold bars in New York for what they were worth in U.S. dollars as gold prices were reaching all-time highs, then pocketed the cash and bought bars that met their updated weight and purity standards in Europe, as prices conveniently pulled back.”
-https://www.kitco.com/news/article/2026-04-06/bank-france-sells-its-129-tonne-us-gold-reserve-then-buys-it-back-europeHah, nice. Thank you for the link.
Dunno and didn’t read article, but buy in Europe first, prices go up, sell in USA last.
Germany should do the same, why haven’t they already?
https://www.theguardian.com/world/2026/jan/24/repatriate-the-gold-german-economists-advise-withdrawal-from-us-vaultsUSA no longer deserves to be the financial center of the world they’ve been for many years.
Gold reserves, petro dollar, global reserve currency, and as collateral damage, the continued flood of brain power coming from around the world will stop. It will all collapse because the American population is too stupid to elect an even somewhat sensible government.It’s kind of sad, because the ideals USA claimed to protect were fine, it just turned out to be a lie. And now they are not even protected but are falling apart inside USA too.
USA no longer deserves our trust, and not even our respect anymore.
As an American I feel like I should be disputing this but all of your points are quite good.
I were going to make a list here of just the most outrageous offenses the US has done to US allies in just the last months. But the list kept getting too long for the short witty response I wanted to make…
They’re doing it to most Americans too. Just not the rich ones.
What if you focus on stuff the US didn’t used to do? Because they used to do all the imperialist stuff too, just with more excuses to try justifying it (or, better secrecy).
Exactly. What’s new here is not the anti-democratic imperialism, that’s for sure.
What’s up with that body text? I assumed they’re always manually written by whoever submits the post
no body text appears for me. I would be annoyed at an automated one. The body to me is supposed to be the start of the conversations from the poster.
I’m on sync, don’t see any body text
Just so you know what I meant:
Yeah that’s not there for me
Lemmy automation that doesn’t work. As a poster you can do nothing. The worst kind of automation there is.
It all looks good on my end. Could be the app I use corrects it in translation tho.
Are you claiming to not see this?:
ERROR: The request could not be satisfied www.mining.com
Yup. I don’t see that.
fwiw I don’t see that anywhere
OK, but in the standard web interface it’s there, maybe the app removers it, because it’s an automatically added text, that more often than not is irrelevant.
I see that too, on lemmy.today.
It’s auto pulled from the article and the article isn’t opening for me either.
