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425 sats \ 2 replies \ @kepford 27 Mar \ on: Russia, India, and China Gold Reserves charts_and_numbers
My biggest question is... how can any of this data be validated?
Just thinking about this. I have more confidence that the ETFs have the BTC they are supposed to have than I have confidence in any of the gold stats. More doesn't mean 100% but it would be far harder to fake BTC in ETFs than gold held by state actors.
If I'm wrong it is likely because I'm ignorant of how gold reserves are validated. There has to be more than trust me bro.
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1087 sats \ 1 reply \ @kr OP 27 Mar
it can’t be validated in the same way the bitcoin network can, there are some people who actually believe the gold held in Fort Knox is not really there.
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50 sats \ 0 replies \ @kepford 27 Mar
Yeah, I've heard that. I'm not in that camp. I mean maybe it isn't but I don't think the US has no gold. I just have suspicions about any numbers. They inflate other things, why not this.
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