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RandomWorker
71 days ago
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Dutch central bank moves 86 tonnes of gold from US...
On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.
fbrncci
71 days ago
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Not the right comparison to make when comparing gold vs paper currency that can be printed at a whim. The comparison would hold if they pulled out physical fiat currency reserves.
radiator
71 days ago
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The sum of 12 billion USD would be correct for paper gold probably. But in practice, the supply of paper gold exceeds that of physical gold.
everybodyknows
71 days ago
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To put in human terms, it's roughly three day's labor of every worker in the Netherlands.
tosti
71 days ago
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Make that the cat wise.
SanjayMehta
71 days ago
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GDP is just a number in a spreadsheet. This is a physical asset.
apexalpha
71 days ago
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GDP is a proxy for economic output. This is a static collection of a certain element producing nothing.
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