Comment by fedpost

Okay so possibly dumb question, but...what do you do with the gold when you "need" it? How is a bunch of shiny, admittedly "desirable", metal going to fix whatever class of crisis the article is hand waving?

Are we talking physical stuff like Germany deciding third time's a charm and Europe saying "fuck, okay America the gold is already there, do your thing and ship us a few thousand tanks and a few hundred thousand boys from the plains!"

...or are we talking more obscure "fuck, someone did stupid things with excel sheets, we need to make the numbers not say society is over, here everyone...do something with gold!" type situations?

In the former case, this all makes a lot of sense given that the US has both demonstrated a reluctance to assist other countries (sans Israel?) and a lack of capacity to do much if they did care.

I can't help but feel like in a lot of cases you're just going to suddenly crash the gold market and create a bunch of inflation because currency itself is not a "means of production" that you can make things with, it's an old IOU.