pull down to refresh
90 sats \ 23 replies \ @Satosora 8 Aug 2024 \ parent \ on: Let's Find A Scapegoat To Mask The Reason And Deflect The Blame econ
I guess that is true.
I just never got the idea of printing money and buying gold.
Seems counter intuitive.
Who's buying gold?
reply
China, russia, india, the us.
reply
Is the US buying gold?
Those other countries are trying to protect themselves against US inflation. Most of their currency reserves had been US Treasuries.
reply
US is always buying gold.
Just not massive amounts like India and China.
reply
We don't know if they're holding onto it, though. Every attempt to audit Ft. Knox over the past 80 years has been denied.
As far as I'm concerned, all we know is that they claim to have gold.
reply
I didn't see your reply! I just said the same thing, but my years were off.
The gold is still there.
It hasnt disappeared.
Some citizens, but not the government. They haven't even audited Ft Knox in like 50 years.
reply
The government isnt buying any gold?
Not true for India.
India buys Gold for two reasons. One because our woman love it too much. We have exceptional demand for gold. Second, which is important, India still follows Gold Standard partially.
reply
I think he meant governments are buying gold, plenty of American citizens buy gold, too.
Does India have a gold reserve requirement?
reply
Those other countries are trying to protect themselves against US inflation. Most of their currency reserves had been US Treasuries.
This was a reply to your comment.