Counting the cutlery

The Netherlands’ central bank said it had moved more than 78 tonnes of gold from New York to London, citing “increasing geopolitical unrest”. Bullion stored in Britain would be more readily available in a crisis than that stored across the Atlantic, the bank explained. France has removed all its bullion from New York’s Federal Reserve over the past couple of years.

Source: The Economist (3 September 2026)

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ninalanyon · 70-79, T

Is the bullion that governments hold enough to back the currency at the current valuation of the metal?

If not why do they hold on to it?

At the moment gold is about 124 400 EUR/kg so that 78 tonne is worth 9.783 x 10^9 EUR. Netherlands GDP is 1.25 x 10^9 EUR so the gold is worth just under eight years of GDP.

The total household wealth of the country is 4 190 x 10^9 EUR which is about 430 times the current value of the gold.

Presumably the total wealth of the country is far higher.

Sources:
- https://en.wikipedia.org/wiki/List_of_countries_by_total_private_wealth#Total_household_wealth_by_country

- https://www.worldometers.info/gdp/netherlands-gdp/

- https://goldpricez.com/us/kg

If I've made a mistake in the arithmetic please let me know

anythingoes477 · M

The WSJ says.........."Fear of a complete collapse of government under the corruption of trump".

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