Sounds good... But to me this has a FDR 1933 confiscation, or a Sam Bankman-Fried sharpshooter “I don’t know where it went” vibe about it.
Peter will make sure that gold is safely elsewhere. Probably Perth Mint in Australia as they have the set-up...
Think about it.
Does the bank actually have the cash to back up everyone’s checking/savings accounts? Not even close.
Does the FDIC have enough greenbacks to cover everyone’s losses during a bank run? Not even close.
All you see is your balance on your phone or computer.
Same with digital assets anywhere.