To protect against inflation?..........................😉
To protect against inflation?...
———-
Possibly, but more likely they are broke, and know it. China has already stated years ago they will back their digital Yuan with Gold holdings….ditto with many Brics nations…..seven or eight US States have already created sovereign State Gold and Silver depositories….
My travels through SA revealed many of their gold mines have been bought by China, they circumnavigate the corrupted western Gold pricing mechanisms by buying the mine, and shipping the ore to China.
The US with $44,000,000,000,000 in unpayable debt knows the clock is ticking, pray our Gold Reserves are what the government says they are ( they aren’t)- the last full audit ( assay) of our gold reserves was done decades ago.
Interesting to note a full audit entails drilling bars and assaying the contents,
Cross checking bar serial numbers, weighing, etc….that said, except a full blow off when our Comex has a “ failure to deliver “ event, which is getting close.
https://www.bullionstar.us/blogs/koos-jansen/us-government-lost-7-fort-knox-gold-audit-reports/
https://www.govtrack.us/congress/bills/117/hr3526
https://www.numismaticnews.net/coin-market/u-s-government-gold-reserve-auditor-deceptions
https://www.gold-eagle.com/article/truth-about-bundesbank-repatriation-gold-us
…….and on and on.