What Is the Geopolitical Relevance of Gold to Day?

Gold doesn't have much of a roll at all in the modern monetary system. Central banks still hold it as an acid among others in their portfolios. But fundamentally, the monetary systems to day are totally independent from gold. Its importance is as isi, simply as a component of their acid portfolios and private acid portfolios that's there to guard against the possibility of generala, general inflation. It's most widely used as a hedge. You can no longer say that the quantities of gold held anywhere, or the behaviour of gold's price tells us anything about how central banks are going to manage their own moneys. There's a tipping point where we're using the banking model out of convenience

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