I don’t think I’m commenting on an operation that the Americans decided on with the Israelis alone.
They can then complain that they aren’t being helped in this operation, which they decided on alone.
It’s not our operation.

While the world was watching the Iran war, Macron quietly executed a historic operation.
Over 6 months, through 26 separate transactions, France liquidated its last 129 tons of gold from US vaults.
Old bars were sold in New York at record prices, replaced with new ones purchased in the European market.
No noise, no diplomatic crisis, not even physical transport.
And as a result, all 2,437 tons of France’s gold reserves, down to the very last bar, are now entirely in Paris for the first time since the 1920s.
But to grasp the true weight of this move, you first need to understand one thing.
When a NATO ally pulls its gold from the US, it’s not just moving metal.
It’s the oldest and heaviest declaration that the foundation of an alliance has been shaken.
Macron did this silently without anyone noticing despite Trump.
And it’s not just France.
Germany is preparing for this as well.
First and foremost, we need to clearly understand what this operation entails because what follows has the potential to shake up the entire European and global balance of power.
Gold is the oldest and most tangible measure of trust between nations.
Wherever a country keeps its gold, it considers that country safe.
If it keeps it in its own vaults, it means it trusts in its own strength.
If it keeps it in another country’s vaults, it means it believes its relationship with that country is unshakable.
And if it withdraws its gold, that is the clearest declaration that trust has ended.
For over a century, France had kept part of its gold in the United States.
Since World War II, Europe’s major central banks have entrusted their gold to the famous vault of the Federal Reserve Bank of New York in Manhattan.
in exchange for security, liquidity, and the American guarantee.
This arrangement went unquestioned for decades until Charles de Gaulle came along.
Between 1963 and 1966, De Gaul withdrew a large portion of France’s gold reserves from the US.
In 1966, he withdrew from NATO’s military command structure.
Washington called this a betrayal.
Paris called it sovereignty.
Exactly 60 years later, Macron opened the same playbook, but played a much more refined version.
But to understand Macron’s move, one must first see the context that drove him.
And at the center of that context is Trump.
Trump’s second term sent shock waves through Europe.
But this was no ordinary political tension.
It was a historic turning point where the very foundations of the transatlantic security architecture built since World War II were called into question.
At first, there were threats of tariffs and trade war rhetoric, but it quickly escalated to a much deeper level.
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Defense Secretary Pete Hegth, or as Trump preferred to call him, the war secretary, openly declared that the US no longer had a primary interest in Europe’s security.
In the infamous group chat leaked by the Atlantic, it emerged that Hegathth had expressed his disgust for European freeloaders.
This was not merely a momentary outburst.
It reflected an official shift in policy as evidenced in the draft of the Pentagon’s new national defense strategy and words turned into action.
The Pentagon began systematically reducing the US military presence in Europe.
Troops were withdrawn from Romania.
The USS Gerald R.
Ford aircraft carrier was redeployed from the Mediterranean to the Caribbean.
In September 2025, HEGs Global Force Posture Review laid out a comprehensive plan for troop withdrawal from Europe.
Congress sounded the alarm and included a provision in the 2026 National Defense Authorization Act prohibiting the number of US troops in Europe from falling below 76,000.
The figure itself speaks volumes.
The very fact that such a number had to be set indicates that the Pentagon had planned to go far below that level.
However, the truly devastating aspect of the withdrawal lies not so much in the numbers as in the functions.
The Rammstein base in Germany is not just an air base.
It is the headquarters of Yukcom, which coordinates all of NATO’s operations in Europe.
Every US military operation in Europe.
Every logistics operation and every intelligence coordination effort is managed from this headquarters.
Meanwhile, Deacellu in Romania forms the backbone of Europe’s strategic defense with its Eegis ballistic missile defense system, serving as the continent’s primary line of defense against ballistic missile threats from Iran or Russia.
The weakening or closure of these bases would directly undermine not only Europe’s conventional but also its strategic defense capabilities and the redeployment of the USS Gerald R.
Ford aircraft carrier along with three destroyers from the Mediterranean to the Caribbean effectively means that US naval power in the eastern Mediterranean specifically the Suez Cyprus Libya triangle has been reduced to zero.
This region is critical not only from a military perspective but also for energy security.
A significant portion of Europe’s LNG and oil supply routes pass through this triangle.
The region left most vulnerable by this military vacuum is the Baltic states.
Estonia, Latvia, and Lithuania, the thinnest link in NATO’s eastern flank.
The US presence in this region is numerically small, but has a significant deterrent effect.
Its withdrawal could be interpreted as an open invitation to Russia.
Poland recognized the threat early on and increased its defense spending to 4% of GDP, twice the NATO average.
But it is strategically impossible for Poland to shoulder the defense of all of Eastern Europe on its own.
And Greenland.
Trump openly demanded Greenland from NATO ally Denmark.
He openly targeted the territorial integrity of an ally.
>> And he said, “I would love I didn’t call him, he called me.
He’s very proactive.
He’s a great guy.
He’s a deal guy.
He’s a dealmaker type guy.
And we need it for national protection.
We need Greenland for national protection.
They have a very small population.
>> This was an unprecedented step in NATO history.
A member state setting its sights on the territory of another member state.
Denmark refused.
Trump ramped up the pressure.
A shock wave spread through European capitals.
Today Greenland, tomorrow what? And when all this converged with the Iran war, the breaking point in Europe was reached.
When the USIsrael coalition attacked Iran in February 2026, France refused to open its airspace and bases to the coalition.
Italy and Spain also kept their distance.
They called for a diplomatic solution, a ceasefire, and negotiations.
Trump labeled his allies cowards and paper tigers.
Debates over a partial withdrawal from NATO flared up in the French Parliament.
The clearest challenge to the alliance’s structure since 1966.
A European diplomat summarized the situation as follows.
The same movie plays out every day.
The cause changes.
Defense spending, Greenland, the Strait of Hormuz or something else.
But the threats always come back.
This is the context in which Macron’s gold move must be understood.
France has observed the US trend of withdrawing from Europe, its troop reduction plans, its claim on Greenland, the divisions over the Iran conflict, and the erosion of trust within NATO.
And it has decided to shift its financial foundation away from American soil.
The gold operation is not an isolated economic move.
It is one of the most concrete, measurable steps toward Europe’s evolution towards strategic autonomy.
The doctrine Macron has championed for years that Europe should manage its own defense, economy, and resources is no longer theory, but practice.
France’s move did not come out of nowhere, and the ripple effect is being felt on multiple fronts.
First wave, Germany.
There are still 1,236 tons of gold in New York, 37% of its total reserves.
The words of Michael Jagger, president of the German Taxpayers Association, are clear.
Trump is unpredictable.
He’ll do anything to make money.
Germany’s gold is no longer safe in the Fed’s vaults.
The Bundes Bank tried to withdraw 300 tons from New York in 2013.
It took 5 years.
France completed the transfer of 129 tons in 6 months without any physical transport.
The question in the German public is inevitable.
If France can do it, why can’t we? But Germany’s situation is structurally very different from France’s.
It’s not just a matter of scale.
It’s a matter of the depth of dependence.
Germany is dependent on Ramstein, Yukcom, the nuclear umbrella, and the Eegis shield.
All of these dependencies are under US control.
France on the other hand possesses an independent nuclear deterrent.
It withdrew from NATO’s military command in 1966, returned in 2009, but has always kept one foot outside.
Behind Macron’s ability to make this move lies France’s structural independence.
Germany does not enjoy the same luxury.
If Berlin were to pull its weight, the retaliation from Washington could be far harsher.
Second wave dd dollararization.
France’s gold move is part of a broader global trend.
Central banks purchased record amounts of gold in 2025.
China, Russia, India, and Turkey have been divesting from US Treasury bonds and accumulating gold for years.
BRICS countries are establishing dollar-free trade mechanisms.
Until now, non-western countries have led this trend.
But when a NATO ally, Europe’s second largest economy, takes a concrete step in the same direction, ddollarization is no longer just the East’s project.
The message is no longer coming from Moscow or Beijing.
It’s coming from Paris.
This signals a long-term threat to the dollar’s status as the global reserve currency.
Third wave, Europe’s military restructuring.
Gold is just the beginning.
EU defense spending reached a record high in 2025.
Germany alone established a€ 100 billion euro special defense fund.
Poland is allocating 4% of its GDP to defense, twice the NATO average.
The EU Commission allocated€ 1.
5 billion for the European Defense Industry Program.
France and the UK have initiated dialogue on nuclear deterrence.
All of these developments send the same message.\

Europe now aims to ensure its security without relying on the US.
And the financial pillar of this goal, the most tangible measure of confidence is keeping its gold in its own vaults.
129 tons, 26 transactions, 6 months, 13 billion in profit.
And in the end, all 2,437 tons down to the very last bar are in Paris.
De Gaul did it with fanfare.
Macron did it quietly.
De Gaul paid the price for it.
Macron profited from it.
There isn’t a single French gold bar left in the New York Fed’s vault, but Germany’s and Italy’s gold is still there.
Trump is withdrawing troops from Europe, questioning NATO, and targeting allied territories.
And Europe is responding quietly by increasing defense budgets, building its own security architecture, and now shifting its financial foundation away from American soil.
The gold move is the most concrete, measurable, and irreversible step in this response.
In the short term, rhetoric in France US relations will harden, but there will be no practical break.

This relationship has always worked this way throughout history.
In the long term, however, the era of Europe entrusting its security to Washington is coming to an end.
France was the first country to walk out that door, and history shows that the first to leave is never the last to leave.
So, what are your thoughts on this topic? Share your thoughts in the comments.
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