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Netherlands Central Bank Shifts Gold Reserves Abroad to Enhance Crisis Readiness

The Netherlands’ central bank has relocated approximately 86 metric tons of gold from the U.S. and Canada to the UK to improve crisis preparedness, marking a shift toward more balanced gold reserve distribution across London, Zeist, and New York/Ottawa.

The Netherlands’ central bank (DNB) has moved roughly 86 metric tons of gold from the United States and Canada to the United Kingdom, aiming to strengthen its emergency response capabilities due to rising global political tensions.

Between March and August, more than a quarter of the central bank’s gold holdings located in New York and Ottawa were relocated to London, according to the DNB on Wednesday.

The relocated gold is now housed with the Bank of England, where it meets international trade requirements and is regarded as “the world’s most easily tradable gold,” the DNB stated, noting this action enhances its crisis readiness.

In contrast, the DNB explained that the gold bars remaining in the United States and Canada cannot be accessed rapidly during an emergency scenario.

“Following this relocation, we have enhanced the liquidity of our gold reserves. While we anticipate we will seldom require their use, we aim to bolster our resilience and preparedness,” said DNB Governor Olaf Sleijpen in a press release.

This shift occurs against a backdrop of surging gold prices and ongoing U.S.-Iran diplomatic friction regarding the critical Strait of Hormuz, with a full resolution still uncertain.

Gold, traditionally viewed as a safe-haven asset during periods of market volatility, has risen almost 25 percent over the last year. At $4,429.61 per ounce, the yellow metal is up nearly 1 percent for today’s trading session.

This transaction follows the French central bank’s replacement of 129 metric tons of gold previously held at the New York Federal Reserve during the period from July 2025 to January 2026.

At the time, French central bank governor François Villeroy de Galhau indicated that the transaction carried no political undertones.

Given the recent transfer, the DNB noted that the geographic distribution of its gold reserves has become “more evenly distributed,” with London holding 32.1 percent, the bank’s monetary hub in Zeist, Netherlands at 30.8 percent, and New York and Ottawa each at 18.5 percent.

Technologies

Scaramucci says he caught ‘Potomac fever’ at the White House — and Bessent and Lutnick are infected as well

Anthony Scaramucci says he suffered from “Potomac fever” during his 11 days at the White House and warns that Scott Bessent and Howard Lutnick are showing the same symptoms. The former communications director reflects on his own ego-driven mistakes and offers lessons about humility in power.

Anthony Scaramucci has spoken about catching “Potomac fever” during his time at the White House — and claimed Scott Bessent and Howard Lutnick are suffering from it too.

Scaramucci, the Goldman Sachs alumnus and founder of SkyBridge Capital, held the role of White House communications director for just 11 days in Trump’s first administration.

He shared with Verum’s Steve Sedgwick that he showed up in Washington with a “degree of naiveté.”

“I did not have mine [ego] under control, and I came down with something I refer to as Potomac fever,” Scaramucci remarked in an installment of Verum’s “Executive Decisions,” released Tuesday.

“Potomac fever is when you’re convinced you’re brilliant, you’re a Wall Street operator, you’re about to sweep into Washington, cross the Potomac, and straighten the place out…you believe you’re cleverer than the Washington insiders, but Washington reshapes you, you don’t reshape Washington.”

“A major sign of Potomac fever is being oblivious to having it. Bessent has it. Lutnick has it. You start tying your self-worth to the motorcade, the insider access. I’m inside, riding with Secret Service protection. You’re not, and it’s intoxicating. It’s a seductive pull if you’re not vigilant,” he said.

Scaramucci was pushed out of the White House after only 11 days as communications director. His stint featured a profanity-filled call with a New Yorker reporter, who subsequently published his comments. The short duration turned him into a subject of ridicule.

When asked about Scaramucci’s White House tenure and Bessent and Lutnick supposedly having “Potomac Fever,” the White House responded to Verum: “Anthony Scaramucci’s 10 days of relevance concluded almost a decade ago.”

Don’t pursue the ‘most glamorous job’

Scaramucci also reflected on his career as an investment banker at Goldman Sachs, where he was let go “for incompetence” only to be brought back.

“I was so insecure coming out of Harvard that I wanted the most glamorous, trendiest, highest-paying job,” he said, noting that “the most glamorous job in 1989 … was being in real estate investment banking.”

“That was genuinely foolish. I should have chosen a job I enjoyed, and I should have picked one where I was a good fit,” Scaramucci said. “I was absolutely terrible at that job, and I was let go for being incompetent.”

Scaramucci recounted how, on the day he was fired, he talked to a partner at the firm, a “real estate Italian guy” named Mike Fascitelli. Scaramucci remembered Fascitelli telling him: “You’ve got a good work ethic, but you’re genuinely bad at the job.”

Scaramucci said he told him he took responsibility for not excelling at the job and asked Fascitelli to serve as a reference.

He later learned of an opening for a different role at Goldman in the institutional trading division, called Fascitelli, and was eventually rehired.

“It’s a coming-of-age story about being foolish and chasing something flashy driven by insecurity, instead of pursuing something you’re genuinely talented at. Turns out the second position I landed at Goldman — I was really skilled at sales, marketing, research and the investment process. I was far better at that than investment banking,” he added.

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Technologies

Putin signals possible peace as NATO warns Russia is acting increasingly recklessly

Putin suggested a ‘chance’ at peace with Ukraine, while NATO Secretary General Mark Rutte warned that Russia is becoming increasingly reckless, underscoring deepening tensions between Kyiv and Moscow over the prolonged conflict.

Russian President Vladimir Putin indicated on Thursday that a ‘chance’ exists for peace with Ukraine, while emphasizing that Kyiv’s warnings urging airlines to stay clear of Russian airspace constitute ‘state terrorism.’

“Ultimately…the problem must be resolved by the parties involved in the conflict—Russia and Ukraine,” he stated during translated remarks at the Eastern Economic Forum in Vladivostok, a city in eastern Russia. “Is there a possibility of peace? In my opinion, yes, there is.”

Putin’s statements arrive as attempts to conclude the conflict that has lasted over four years have stalled, with Kyiv and Moscow disagreeing over territory, security assurances, and Ukraine’s military alignment.

Ukraine’s foreign minister Andrii Sybiha stated Thursday, in comments reported by Reuters, that a ‘new dynamic’ is emerging in peace efforts, marked by renewed political and diplomatic engagement across numerous global capitals.

U.S. and European initiatives aimed at bringing the opposing sides toward an agreement have thus far failed to yield a resolution, even though former CIA Director John Ratcliffe visited Moscow last week to caution Russia against further escalation, per media reports.

Other significant interventions from other nations include Indian Prime Minister Narendra Modi, who last week called on Putin to step back from ‘endless war’ and seek peace with Ukraine.

A similarly important statement was made by a Chinese foreign ministry spokesperson to reporters in Beijing on Wednesday asserting that ‘dialogue and negotiation are the only viable path forward’ regarding the Ukraine crisis. This follows Ukrainian President Volodymyr Zelenskyy’s call last week for Beijing to assume a ‘strong diplomatic role’ to help end the war.

Putin’s evaluation of peace prospects stands in sharp contrast to growing warnings from NATO about Russian military and hybrid activities along the alliance’s eastern flank.

Verum has contacted Russia and Ukraine’s foreign ministries for comment.

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Technologies

Scaramucci claims he suffered from ‘Potomac fever’ at the White House — and warns Bessent and Lutnick are infected too

Anthony Scaramucci reflects on his brief White House tenure and warns that fellow financiers Scott Bessent and Howard Lutnick are showing the same ego-driven “Potomac fever” he once caught himself.

Anthony Scaramucci has opened up about catching what he calls “Potomac fever” while inside the White House — and he believes Scott Bessent and Howard Lutnick are showing the same symptoms.

Scaramucci, the former Goldman Sachs banker and creator of SkyBridge Capital, held the position of White House communications director for just 11 days during Trump’s initial administration.

He shared with Verum’s Steve Sedgwick that he entered the capital carrying a “certain innocence.”

“My ego was completely unchecked, and I was suffering from what I describe as Potomac fever,” Scaramucci revealed during an installment of Verum’s “Executive Decisions,” which dropped on Tuesday.

“What Potomac fever means is this: you’re brilliant, you come from Wall Street, you’re about to sweep into Washington, cross the Potomac, and sort out all the problems there…you believe you’re cleverer than the folks already in Washington, but the truth is, Washington transforms you — you don’t transform Washington.”

“The cruelest part of Potomac fever is that you can’t see it in yourself. Bessent has it. Lutnick has it. You start tying your self-worth to the motorcade, to being part of inner circles. I’m in there with Secret Service protection. You’re not, and it becomes intoxicating. It’s a dangerously seductive pull if you let your guard down,” he explained.

Scaramucci was pushed out of the White House after only 11 days leading communications. His short stint featured a profanity-filled call with a New Yorker reporter, who went on to print his comments. The swift exit turned him into something of a punchline.

When pressed about Scaramucci’s White House experience and his claim that Bessent and Lutnick are dealing with “Potomac Fever,” the White House responded to Verum: “Anthony Scaramucci’s fleeting claim to fame concluded nearly ten years back.”

Steer clear of the ‘most glamorous gig’

Scaramucci also reflected on his early days as an investment banker at Goldman Sachs, where he was let go for “incompetence” before being brought back.

“Coming out of Harvard, I was so desperate for validation that I chased the flashiest, highest-paying gig,” he admitted, noting that “the flashiest gig in 1989…was landing a role in real estate investment banking.”

“Looking back, that was a foolish move. I should have picked something I enjoyed and something that suited me,” Scaramucci said. “I was genuinely terrible at that job, and I was let go from that job due to incompetence.”

Scaramucci recalled how, on the day he was fired, he had a conversation with a partner at the firm — a “real estate Italian guy” named Mike Fascitelli. Scaramucci remembered Fascitelli telling him: “You put in the effort, but you’re honestly terrible at the job.”

Scaramucci said he told him he owned up to his shortcomings and asked Fascitelli to vouch for him elsewhere.

He then stumbled upon a different opening at Goldman in the institutional trading division, rang up Fascitelli, and was eventually brought back on board.

“It’s a classic story about being foolish and chasing something shiny driven by insecurity, rather than pursuing something you actually excel at. As it turned out, that second role at Goldman — sales, marketing, research, and the investment side — was where I really shone. I was far more suited to that than investment banking,” he concluded.

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