The better gold looks the worse the fiat money US Dollar looks. The worse other fiat currencies look. The Fed issues these Federal Reserve Notes which are backed up by debt. Gold has an intrinsic value, not some value from being able to theoretically cash it in for a debt note (TBill). Fiat money is a profitable scam and gold busts it wide open. Fiat money is now digital and a computer notation making it more ephemeral than ever. Those who profit from the fiat money racket despise gold because it exposes them as scamsters same as Goldman Sachs and other Wall Street creeps
Worth of gold held by USG is roughly 300 billion dollars which is not that much in the great scheme of things....so those holdings do not figure into the Feds policy to suppress the gold price
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