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On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.
by RandomWorker 15d ago
On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.
- SanjayMehta 15d agoGDP is just a number in a spreadsheet. This is a physical asset.
- apexalpha 15d agoGDP is a proxy for economic output. This is a static collection of a certain element producing nothing.
- everybodyknows 15d agoTo put in human terms, it's roughly three day's labor of every worker in the Netherlands.
- tosti 15d agoMake that the cat wise.
- fbrncci 15d agoNot the right comparison to make when comparing gold vs paper currency that can be printed at a whim. The comparison would hold if they pulled out physical fiat currency reserves.
- radiator 15d agoThe sum of 12 billion USD would be correct for paper gold probably. But in practice, the supply of paper gold exceeds that of physical gold.