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Why would they want to increase Gold reserves anyway? Surely holding strategic foreign currency reserves is broadly more useful.
by nly 12y ago
Why would they want to increase Gold reserves anyway? Surely holding strategic foreign currency reserves is broadly more useful.
- lclarkmichalek 12y agoMight make the fiscal luddites shut up for a while? Not sure it'd actually be worth the cost though.
- fla 12y agoIt was an initiative motivated by FUD and protectionism.
- Tomte 12y agoBecause gold bugs and fiat money. Gold bugs are kind of the more conservative variant of Bitcoin fans.
- MagicWishMonkey 12y agoBecause hoarding a nearly worthless mineral makes some people sleep better at night.
- Htsthbjig 12y agoBecause gold can't be printed ad infinitum like the central banks can and do with currency. E.g If you hold Japanese yens and the Bank of Japan announces it is printing like crazy like they did recently, and the currency falls 20% in one year, you loose 20% of your reserves. Useful for what? For Bankruptcy? Today all central banks are printing like crazy, so it is a good idea to hold real things.