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imho the biggest difference is: gold is currently the preferred reserve by the world governments, which hold 30k tons, including the government with the largest
by twelve40 9y ago
imho the biggest difference is: gold is currently the preferred reserve by the world governments, which hold 30k tons, including the government with the largest military in the world. There is a chance that those in power will put a bit of effort to keep it more or less stable.
- down 9y agoand they store it because there is a market for it, because people find it valuable, if the millennials don't get why a piece of metal has value, there isn't much governments can if no one buys their shiny metal.
- twelve40 9y agooh, right, millennials
- guitarbill 9y agoexcept when it's e.g. required to manufacture the electronics these millennials use. gold might be over-valued in your opinion, but it has intrinsic value, unlike bitcoin.
- gonvaled 9y agoActually, it is debatable how much gold does the USA hold: audits are not allowed. Germany was recently "discouraged" of claiming their gold reserves back.