Comments by "" (@foxmoongaze) on "What is the obsession with gold?" video.

Gold and silver were money for thousands of years, and in the American constitution declared as the only money allowed, because the founding fathers were looking to avoid the financial abuse that has now been playing out for the last 90 years. Internationally gold is considered a tier 1 asset with a zero risk weighting, so the gold a country holds can't be sanctioned. Compared to the ever devaluing fiat currencies we are forced to use, gold seems like an attractive alternative. Many economists, bankers and officials hate the idea of gold as it is outside the system and can't be easily manipulated or corrupted.
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@abody499 I call the gold a "country holds" as that within it's own borders. Most attempted confiscations have had poor results, even the USA in 1933 only managed 25% handed in by a largely patriotic public. It's not worth the expense for a government to knock on every door and dig up every garden looking for it. Keeping gold reserves off shore is not sensible unless there are fears of invasion or revolt. With sanctions we are probably just talking from the West, the rest of the world doesn't tend to sanction each other, and BRICS will soon offer alternative ways of clearing there.
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@abody499 Not at all, I just mentioned that sanctions of any sort are generally from the west, not that gold can be sanctioned as it has no need of an international clearing system such as SWIFT and does not have any external dependencies if held within that countries borders. BRICS has created it's own clearing mechanisms and is in the process of finalising it's own unit of exchange (based partially on gold) to avoid the need for dollars.
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@abody499 You have changed my comment and want to argue your changes 🤣🤡. Then you want to correct my grammar, I can only imagine in an attempt to bolster your ego and prove yourself in some way superior. However, you are confusing me with someone who gives a f**k 🤪
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@shadowofmyfutureself It's about confidence, not imagination. Gold and silver, as metal, have many uses and great demand due to their unique properties giving them substantial value beyond the monetary one. Gold in particular is excellent as a store of wealth as it is fungible, immutable and rare enough, there is no equal.
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