Does the US government need a gold reserve? No, it doesn’t. The government’s gold is basically an emergency slush fund for elites to use to preserve their political power.
Citation: “What share for gold? On the interaction of gold and foreign exchange reserve returns” by Omar Zulaica, BIS Working Papers, No. 906: bis.org/publ/work906.pdf
Be sure to follow the Loot and Lobby podcast at https://Mises.org/LL
Citation: “What share for gold? On the interaction of gold and foreign exchange reserve returns” by Omar Zulaica, BIS Working Papers, No. 906: bis.org/publ/work906.pdf
Be sure to follow the Loot and Lobby podcast at https://Mises.org/LL
