3 ms·

Central banks moving gold reserves is very different from everyday financial transactions because reserves have a special status tied to their physicality. They

Central banks moving gold reserves is very different from everyday financial transactions because reserves have a special status tied to their physicality. They act as a form of physically controlled collateral. Corporations and individuals generally do not move wealth via physical assets.

rsync 13y ago
False, and trivially easy to demonstrate. Off the top of my head, I am thinking of ... - A deep, pervasive culture of gold hoarding and gold wealth transfer for dowries (yes, even in 2013) for Indians.[1] - Persians/Iranians who have a deep cultural link to carpets as a store of value that can be used in day to day life, but also transported and stored as value. How about any middle american over the age of 50 who counts his or her "vehicle" as an asset and shops/deals in used cars every 12-18 months. A lot of people think about cars this way. As for corporations just consider casino counting rooms and exxon tankers full of crude oil. [1] http://www.bloomberg.com/news/2013-11-17/gold-laden-brides-in-india-defying-singh-as-culture-wins.html http://www.bloomberg.com/news/2013-11-17/gold-laden-brides-i...
- jasonwatkinspdx 13y ago
  I think you need to google the definition of 'generally'. A list of narrative exemplars does not refute an assertion of proportion. Like the first google result for payments volume yeilds this: http://www.gfmag.com/component/content/article/119-economic-data/12528-payments-volumes-worldwide-new.html#axzz2lRIkExrN http://www.gfmag.com/component/content/article/119-economic-... As you can see, credit transfers dwarf everything. It's worth noting that all of these payment types are cleared electronically (including checks). I sincerely doubt gold bugs and Persian carpet fans are trading at total volumes of 100's of trillions of fucking dollars globally.

rsync 13y ago

False, and trivially easy to demonstrate. Off the top of my head, I am thinking of ... - A deep, pervasive culture of gold hoarding and gold wealth transfer for dowries (yes, even in 2013) for Indians.[1] - Persians/Iranians who have a deep cultural link to carpets as a store of value that can be used in day to day life, but also transported and stored as value. How about any middle american over the age of 50 who counts his or her "vehicle" as an asset and shops/deals in used cars every 12-18 months. A lot of people think about cars this way. As for corporations just consider casino counting rooms and exxon tankers full of crude oil. [1] http://www.bloomberg.com/news/2013-11-17/gold-laden-brides-in-india-defying-singh-as-culture-wins.html http://www.bloomberg.com/news/2013-11-17/gold-laden-brides-i...

jasonwatkinspdx 13y ago
I think you need to google the definition of 'generally'. A list of narrative exemplars does not refute an assertion of proportion. Like the first google result for payments volume yeilds this: http://www.gfmag.com/component/content/article/119-economic-data/12528-payments-volumes-worldwide-new.html#axzz2lRIkExrN http://www.gfmag.com/component/content/article/119-economic-... As you can see, credit transfers dwarf everything. It's worth noting that all of these payment types are cleared electronically (including checks). I sincerely doubt gold bugs and Persian carpet fans are trading at total volumes of 100's of trillions of fucking dollars globally.