Comment on Dutch central bank moves 86 tonnes of gold from US citing 'geopolitical unrest'Comments−RandomWorker9dOn 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.−fbrncci9dNot 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.−radiator9dThe 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.−everybodyknows9dTo put in human terms, it's roughly three day's labor of every worker in the Netherlands.−tosti9dMake that the cat wise.−SanjayMehta9dGDP is just a number in a spreadsheet. This is a physical asset.−apexalpha9dGDP is a proxy for economic output. This is a static collection of a certain element producing nothing.
Comments
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.
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.
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.
To put in human terms, it's roughly three day's labor of every worker in the Netherlands.
Make that the cat wise.
GDP is just a number in a spreadsheet. This is a physical asset.
GDP is a proxy for economic output. This is a static collection of a certain element producing nothing.