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The Midas Touch: Is Germany Again After Gold Reserves — This Time Poland’s — Ahead of War with Russia?

Henry Kamens, November 09, 2026

Behind the struggle over Poland’s Constitutional Tribunal lies a far larger geopolitical game: Warsaw’s army, its gold reserves, and its sovereignty itself may be at stake.

Polish gold in Berlin's sights

Various pundits, including several Polish sources I know personally, openly claim that the recent palace coup attempt, trying to take full control of Poland’s Constitutional Tribunal and the ability to appoint its leadership is part of a much larger geopolitical game. At its core, they see a broader effort to position Poland’s sizeable and relatively professional military as a frontline instrument in the confrontation with Russia and a proxy force against the Russian Federation.

There are already developments lending urgency, as earlier discussed, giving rise to grave concerns, including recent troop deployments ordered by Polish Prime Minister Donald Tusk, who has become increasingly prominent in the European security debate. According to claims circulating among intelligence-linked sources, German and Polish forces are also expected to be moved closer to the Russian border, particularly around Kaliningrad Oblast, ostensibly in anticipation of a possible Russian provocation, and of course, based on trusted intelligence sources.

After WW2 (and WW1) much of Europe was concerned about Germany getting out of control again

The headlines are most revealing, leaves little room for imagination, Poland launches special operation on the border with Kaliningrad, and describes what many of us have already been writing about. And as one Polish source shared with me, and link too, as this article was being sent off for final editing:

Not Good News, Why Soldiers in Warsaw?

On November 3, Polish Member of Parliament Dariusz Matecki encountered German Bundeswehr personnel on Wiejska Street in Warsaw, in the immediate vicinity of the Polish Sejm (Parliament).

When Matecki approached the German soldiers and asked where they were from and what they were doing in the area, he was reportedly told that they were members of the Bundeswehr who had come to Warsaw for an exhibition.

Nevertheless, the encounter raises questions about the visibility and activities of foreign military personnel in the vicinity of Poland’s principal government institutions, particularly at a time of heightened military activity and expanding German involvement in Poland’s defence infrastructure and multinational military cooperation.

Likely Real Purpose

According to the German press, Poland has launched a major security operation along its 232-kilometre border with Russia’s Kaliningrad exclave, deploying reinforced police, border guards, the military and the elite special forces unit. The operation comes amid growing Polish and European rhetoric that Moscow could test NATO’s resolve through provocations ranging from cyberattacks to a limited military incursion.

I am also receiving some rather hard to swallow comments from Polish sources. Some claim that German soldiers are already in Warsaw, allegedly invited by Prime Minister Donald Tusk to help protect the Constitutional Tribunal. Whether this reflects genuine developments, political speculation, or wishful thinking in Berlin and other European capitals remains unclear—especially considering his German roots. But the very fact that such claims are circulating speaks to the growing unease surrounding Poland’s sovereignty, and it’s less than cozy and friendly relationship with Germany, especially from a historic perspective, and how Poles were murdered in mass by the Nazi invaders during WW2.

Beyond the military and historical dimension, it is impossible to ignore Poland’s substantial gold reserves and the strategic importance they could assume in any future European monetary realignment; this is especially true if Warsaw is drawn closer into the eurozone.

But who will ultimately exercise influence over those reserves—and under what political or financial arrangements—is a question worth asking. That calculation may well exist independently of any perceived Russian military threat and domestic crisis.

Golden Rule: He who has the Gold Makes the Rules

Germany has the EU central bank and holds the wealth. This puts it largely in charge (those with the gold make the rules). Germany also ends up being on the hook for other EU failures. The Greek bailout fell largely on Germany and when the French need a bailout they will need cash (+gold) to cover that. Or else they refuse, and the EU has a major problem.

Federalization is also a self propelling process. It’s generally a bad idea for states to subordinate themselves to larger powers as they lose sovereignty. This happened to the states in the US and has already happened to the countries in the EU. So the process seems to be natural even without a specific driving paradigm. The military angle adds a different dimension.

I’m not sure if Germany alone is driving the war with Russia idea. France and especially the UK are as bad or worse. But they are on the same page and Germany is the one in a position to pull in Poland. This may be driven by outside forces, particularly the CIA and associated Intel agencies. They are the ones behind the use of Ukraine, and the apparent drive towards war directly with Russia.

Push Comes to Shove

I personally think if it ever comes down to that, push comes to shove, Russia will use nukes and the US will sit back and sacrifice Europe. The elected government has very limited abilities to do much in this arena, the CIA is in charge. Meanwhile, there is concern about re-militarizing Germany are shared by others, and how Russia sees this scenario: https://korybko.substack.com/p/reviewing-medvedevs-article-about

It is worth mentioning that after WW1 Germany was not supposed to re-arm. It was rebuilt and militarized with the support of Rockefeller, Dulles, Standard Oil, AG Farben and others. Initially following WW2 NATO was originally formed to face off the Soviets. In the early 1990s when the Soviet Union collapsed there was talk of disbanding NATO as no longer being necessary. I heard two knowledgeable people (I think Macgregor and Chas Freeman, but I’m not certain) both claim that NATO was continued at that time largely because the rest of Europe was concerned about a reunified Germany re-militarizing. That is what Russia now fears the most and its motivation for pushing so hard now in Ukraine in meeting its original objectives in its SMO.

If Germany is militarizing, then who is supporting it?

What affiliations did Dulles and Rockefeller and others have? This is all off the cuff, there is nothing I have deeply researched nothing that there is a clear case for as far as I can tell. Just some interesting ideas and food for thought.

I’ve read in several places that the reason NATO continued after the fall of the Soviet Union was not to counter or contain Russia but to be able to manage and contain Germany. After WW2 (and WW1) much of Europe was concerned about Germany getting out of control again.

Just like Nazi Germany seized Czechoslovakia’s gold and its robust military-industrial complex in the run-up to World War II, so too is today’s Germany plotting to seize Poland’s gold and subordinate European NATO’s largest army to Berlin ahead of a possibly upcoming war with Russia by 2030.

Maybe that’s happening now, and there is much to reflect upon, and that was a thought from just one recent article on Zero Hedge to get you started.

Does Europe Still Have Values?

It is worth remembering the remarks made by U.S. Vice President JD Vance at last year’s Munich Security Conference. His warning was striking—not because he identified Russia or China as Europe’s greatest danger, but because he argued that the real threat was coming from within Europe itself.

“The threat that I worry most about, vis-à-vis Europe, is not Russia, it’s not China, it’s not any other external actor. What I worry about is the threat from within: the retreat of Europe from some of its most fundamental values — values shared with the United States of America.”

The question now is whether Europe has taken that warning seriously—and, more fundamentally, whether it can still collectively agree on what those fundamental values actually are.

Is Europe preparing for another confrontation with Russia while quietly reshaping the balance of military and financial power in Germany’s favour?

 

Henry Kamens, columnist and expert on Central Asia and the Caucasus

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