Why does the United States still have a repository full of gold bars?
In: Other
It doesn’t have any particular use for it. Unlike other entities (like you or I), the US govt can print USD any time it needs to. So why would it sell gold for USD when it can simply print USD? (This is like the owner of a beach selling gold for sand). Since the USD is recognized to have value nearly everywhere else, any USD the govt prints can be traded for foreign currency and goods as it needs. In that case, the gold as a means of trade is redundant.
Because, heh, well ya never know when that’ll be useful to have.
I mean, they don’t really have a reason to get Rid of the gold bars. Putting it all onto the market would actually just drastically deflate the price of gold.
The really funny question is how did the USA get away with holding onto Germany’s gold that it confiscated after WW2 all the way until 2017 by basically telling Germany “don’t worry man we will keep it safe” and Germany not being able to do much about it.
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