Wild times
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Replies (14)
Wild they have to justify taking custody of their gold.
Ha 😄… if only! 🧡
"Trust comes on foot, but leaves on horseback"
Well the US government constantly talks about the gold as if it is all theirs. Also they have now been outright weaponising the dollar and all the global payment systems it controls against other countries including threatening their allies.
That said I think they only have to "justify", because they want to move the markets imo.
There's also plenty of precedent for government level reserves just getting swiped, especially by the USA (France historically, Russia more recently, though that was,USD), but also the UK (Venezuela case iirc).
> Paul Volcker, told Zijlstra ‘You are rocking the boat’, to which Zijlstra said; ‘if that boat rocks too violently as a result of converting $250 million, that boat has already sunk’.
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They're right not to trust a foreign power with their gold.
Also, this is obviously projection derived from what they would do if the shoe was on the other foot.
But we all have short term memory. I doubt any of those past events really factored into this decision as much as recent events.
Or just in cyber space. (Bluetooth, satellite, Tor, all included)
yeah, but NL are now trusting the UK
What gold? 
history repeating...
One must question why is the Dutch central bank storing gold in the US. Likely a banal answer, still a rabbit hole to investigate.