Gold is the center of the financial world; do not measure gold by money, as money can be printed while gold cannot. Converting gold into money is meaningless. Gold should be measured in terms of labor, specifically the cost of extracting 1 ounce of gold (wages, energy, machinery operation, etc.).
Fiat money can be printed with just a push of a button, meaning the cost to create a 100$ note is actually very low (only a few cents).
If we convert the U.S. gold reserves of over 8000 tons into labor, it shows how shocking it is. Nowadays, there are many gold mines around the world, but they cannot be exploited due to high costs, making the supply of gold increasingly scarce.
Gold represents "Labor in the past"; gold preserves the value of labor over time without being eroded by purchasing power. For example, in 1900, if you worked a small piece of land and bought 1 gold bar, by the year 2000, if you exchanged that 1 gold bar for money, the money would still equal the profit obtained from that small piece of land. => Gold is a means of preserving the value of labor over time => keeping gold is preserving labor value permanently => GOLD MUST BE MEASURED BY THE VALUE OF LABOR.
The U.S. gold reserve is essentially a freezer storing that enormous amount of labor units over decades without being eroded by inflation affecting actual purchasing power. The reality shows that the U.S. keeps its gold reserves very carefully and has not sold any ounces for many decades.
Global elites hold tens of thousands of tons of gold not to sell for profit, nor to hedge against risk, but to maintain the status of the financial system because gold is basic currency; it is the core of the financial system.
#PAXGUSDT
Fiat money can be printed with just a push of a button, meaning the cost to create a 100$ note is actually very low (only a few cents).
If we convert the U.S. gold reserves of over 8000 tons into labor, it shows how shocking it is. Nowadays, there are many gold mines around the world, but they cannot be exploited due to high costs, making the supply of gold increasingly scarce.
Gold represents "Labor in the past"; gold preserves the value of labor over time without being eroded by purchasing power. For example, in 1900, if you worked a small piece of land and bought 1 gold bar, by the year 2000, if you exchanged that 1 gold bar for money, the money would still equal the profit obtained from that small piece of land. => Gold is a means of preserving the value of labor over time => keeping gold is preserving labor value permanently => GOLD MUST BE MEASURED BY THE VALUE OF LABOR.
The U.S. gold reserve is essentially a freezer storing that enormous amount of labor units over decades without being eroded by inflation affecting actual purchasing power. The reality shows that the U.S. keeps its gold reserves very carefully and has not sold any ounces for many decades.
Global elites hold tens of thousands of tons of gold not to sell for profit, nor to hedge against risk, but to maintain the status of the financial system because gold is basic currency; it is the core of the financial system.
#PAXGUSDT