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Dutch central bank moves share of gold from U.S., Canada to London

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Re: Dutch central bank moves share of gold from U.S., Canada to London

#151

Post by basisword »

SideburnsOfDoom wrote: post #100
GJim wrote: post #66

Earlier quoted context omitted.

Are you saying there was a worse option than Trump? Really? Because unless the alternative option was a diminutive Austrian with a dodgy 'tache, I find that rather hard to believe. The reality is America voted for Trump (TWICE!) because they wanted him. The rest of the world knows this, and is now acting accordingly. EDIT: Downvotes coming from the brainwashed MAGA crowd!

I disagree not because "brainwashed MAGA crowd" but because people saying "it can't be worse" are almost always wrong. Unless you're starving in the ruins of your house in one of the world's war zones, in which case you're likely focussed on survival, not saying that. Pick any of the leader's third-rate third-tier henchmen or failsons for example of a worse option. Don't dismiss it out of hand. People in the UK voted…

>> People in the UK voted for Brexit because "well it can't be worse, can it?" They were suckers.

I don't think that's true it all. They were promised that it would be better and sold pretty obvious lies. Same applies to Trump. Unfortunately the intelligence of the average voter is now at the bottom of the barrel and I wouldn't expect that to improve soon. Just look at the support people like Andrew Tate get among young people.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#152

Post by lotsofpulp »

toast0 wrote: post #144
_whiteCaps_ wrote: post #121

Earlier quoted context omitted.

IMO if you don't vote, you're tacitly agreeing with whoever gets voted into office. (Although US voter suppression weakens this argument)

That's reasonable enough, but you have to consider it in the context that we don't vote for president, we vote for state electors to vote for president. If you live in a 'safe' state, tacitly agreeing with your state's electors doesn't mean tacitly agreeing with the electoral college result.

If you can’t be bothered to make your disapproval seen at least once every 4 years, then I consider it a tacit approval. So that actually makes 2/3 of Americans in support of Trump’s brand of America.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#153

Post by Isamu »

TheRealPomax wrote: post #122
consp wrote: post #20

Earlier quoted context omitted.

No, but "removing" around half of it from one place is quite a bit. Though I doubt any single physical kg ever moved more than a few meters to the buying countries vault. edit: They physically moved 27 tons, the rest was traded away and bought again in London.

That's the fun thing about gold. It's literal gold, not numbers on a spreadsheet. Moving it really means moving it: bars are stamped and owned, and if the owner wants to move them, those bars need to get transported to wherever the owner says they should be. It's also the idiotic thing about gold, a metal that has no more or less inherent monetary value than a fiat currency =)

>inherent monetary value

I agree, the price of gold depends on demand like everything else. Although gold just has some inherent utility value in addition to scarcity that makes it less likely for the price to go to zero, other stuff like cryptocurrency have only scarcity and can go to zero much more easily.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#154

Post by basisword »

andsoitis wrote: post #8
kingleopold wrote: post #5

Earlier quoted context omitted.

No it's not simple to call "he" did this. WH people, half? of the country supporting him for 2nd time, and wealthy people that donated so much too, it's never "he". Nothing big like that is one persons responsibility. Actions have cons. ? All elected and supported, especially AFTER how he and his supports lead the so many extra deaths in covid. I know your media does not bring facts but truth is out there.

Voters cannot be held accountable for all the specific things the person they elected do. That much should be self-evident.

If you vote for a man that thinks he can "grab women by the pussy" because he's famous, and then you vote for him AGAIN, you should be held accountable for everything he does. It's patently obvious he's an absolutely awful person and completely untrustworthy.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#155

Post by dmurray »

consp wrote: post #20
andsoitis wrote: post #7

> “A more equal spread of the gold supply between North America, the United Kingdom, and the U.S. also helps to spread the risk.” They’re not exiting all the gold held in North America; instead they’re rebalancing so that for more resilience against a backdrop of increased geopolitical risk.

No, but "removing" around half of it from one place is quite a bit. Though I doubt any single physical kg ever moved more than a few meters to the buying countries vault. edit: They physically moved 27 tons, the rest was traded away and bought again in London.

If they sell enough of it in the US and buy enough in London, traders who take the other side of that position will physically move it to London.

That's exactly the service the commodities markets provide: they will absorb a small trade without anyone incurring the costs of shipping precious metals, and they know who to call to get it shipped once there's enough supply/demand imbalance to make shipping it worthwhile.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#156

Post by buttercraft »

andsoitis wrote: post #8
kingleopold wrote: post #5

Earlier quoted context omitted.

No it's not simple to call "he" did this. WH people, half? of the country supporting him for 2nd time, and wealthy people that donated so much too, it's never "he". Nothing big like that is one persons responsibility. Actions have cons. ? All elected and supported, especially AFTER how he and his supports lead the so many extra deaths in covid. I know your media does not bring facts but truth is out there.

Voters cannot be held accountable for all the specific things the person they elected do. That much should be self-evident.

You might have a better point if the elected person hadn't made such a big show of following "mandates" from the voters. You can't have it both ways.

Re: Dutch central bank moves share of gold from U.S., Canada to London

#157

Post by pton_xd »

dhosek wrote: post #17
andsoitis wrote: post #8

Earlier quoted context omitted.

Voters cannot be held accountable for all the specific things the person they elected do. That much should be self-evident.

He’s doing exactly what he said he would do when he ran. People who voted for him can very much be held accountable.

Technically, he campaigned on not starting new wars... so he's doing the worst combination of what he said he would do, AND what he said he wouldn't do. Amazing!

Re: Dutch central bank moves share of gold from U.S., Canada to London

#158

Post by NhanH »

TheRealPomax wrote: post #122
consp wrote: post #20

Earlier quoted context omitted.

No, but "removing" around half of it from one place is quite a bit. Though I doubt any single physical kg ever moved more than a few meters to the buying countries vault. edit: They physically moved 27 tons, the rest was traded away and bought again in London.

That's the fun thing about gold. It's literal gold, not numbers on a spreadsheet. Moving it really means moving it: bars are stamped and owned, and if the owner wants to move them, those bars need to get transported to wherever the owner says they should be. It's also the idiotic thing about gold, a metal that has no more or less inherent monetary value than a fiat currency =)

Currency is inherently about trust: you believe it can be traded later for goods. The mechanism with fiat is that you need to trust your state and government.

In gold, you trust that everyone is believing gold has value. And that it is commmon knowledge (in the logic sense [0])

Saying that gold has no more or less inherent monetary value than fiat currency assuming a magic wand that can change a large percentage of people's belief.

[0] https://en.wikipedia.org/wiki/Common_knowledge_(logic)

Re: Dutch central bank moves share of gold from U.S., Canada to London

#159

Post by 028363922092 »

dgellow wrote: post #147
nfrankel wrote: post #36

Fun fact, France did exactly the same earlier this year (though the trend has been there for decades). [1] https://en.wikipedia.org/wiki/Gold_repatriation#France

There were discussions in Germany to do the same, but I don’t think they followed up on it

[dead]

Re: Dutch central bank moves share of gold from U.S., Canada to London

#160

Post by rdm_blackhole »

_whiteCaps_ wrote: post #121
lokar wrote: post #101

Earlier quoted context omitted.

Not half the country. Almost half of the people who voted.

IMO if you don't vote, you're tacitly agreeing with whoever gets voted into office. (Although US voter suppression weakens this argument)

I disagree with your take. You have the right to not vote when you disagree with all parties running.

In fact, from a moral point of view voting for the lesser evil is highly objectionable because you are voting for someone who you do not even support just so that another person you support even less does not get elected.

Its perfectly fine to say, I don't agree with either and I am going to sit this one out otherwise you end up in weird political dynamics that you can see playing out in real time in France for example.

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