My questions is this:
Since we don’t currently have a gold or silver standard, what is the importance of gold in long term government storage?
I am not arguing. Its a serious question and I would like to hear actual views on it.[/quote]
Well, it’s kind of a silly question. It’s like saying since I am not currently in Europe, what does it matter if my suitcase full of Euros is still in my safety deposit box.
RP is just anticipating a forced relocation to Europe and wants to know what we are working with[/quote]
No.
I go to Europe a lot so that would matter to me more.
This is a bit…more…disconnected from me.
But to recap, the concern is that we will need the gold shortly?
What would be the circumstances for needing it?[/quote]
Good question. If there was a melt down (a severe lack of confidence) in the fiat currency of the US/ world, only commodities with inherant value would matter.(Food, oil for your car, gold/silver for trading purposes.) The fiat currency would be worth nothing. Think of germany in the 1920’s. Gold/silver has served this purpose many times in the past under just such circumstances. Having gold reserves also matters when countries get together to dicuss banking concerns. It’s kind of like discussing military concerns and having air craft carriers parked all over the world versus having no military might. The intimidation value can be subtle but real.
