EDITOR NOTE: When mainstream financial institutions go against their pro-Keynesian foundations to vouch for gold’s intrinsic value, you know something major is stirring. Dutch National Bank joined this growing bandwagon last October. We’re curating this year-old article as it bluntly states a point we’ve been saying for years: if the global economy collapses, gold is the only currency that can restart it. Gold is about to be officially recognized as a Tier 1 currency option, as Basel III implementation gets underway. Banks built on an ”unsound” system of unsound money are now demanding the robustness that only sound money can bring. Of course, as central banks print fiat values out of existence, like a Xerox machine printing increasingly degraded photocopies of photocopies, what other “original” currency of value might be left standing besides gold?
Dutch Bank Talks Global Reset
The translated article, entitled “Goud van DNB” (“Gold from DNB”) states: “If things go wrong, prices may fall. But, crisis or not, a gold bar always holds value.” DNB claims to hold over 600 tons (15,000 bars) of gold mainly in Amsterdam, with other stores in the U.K. and North America. The reserve is valued by the bank to be worth over €6B (~$6.62B). Calling gold the “trust anchor,” the article details briefly why the hard asset is so important to wealth building and the global economy, claiming:
Gold is … the trust anchor for the financial system. If the entire system collapses, the gold stock provides a collateral to start over.
On October 7, the bank also announced they’d soon be moving a large part of their gold reserves to “the new DNB Cash Centre at military premises in Zeist,” a local media outlet reported.
Even Unsound Banks Want Sound Money
DNB is no stranger to playing along with the Keynesian, inflationary games of the global monetary system. A system which, according to some, is now more a Ponzi scheme based on force and blind faith than sound economic principle. That notwithstanding, the centralized financial powers of the world know the real score, and that’s why hard assets like gold are hoarded and locked down while everyday, individual residents of these geopolitical jurisdictions are encouraged to spend and spend, going further into debt to prop up ultimately unsound national economies.
As news.Bitcoin.com reported on September 4, De Nederlandsche Bank is also set to begin cracking down on crypto exchanges and wallets, the bank stating that “firms offering services for the exchange between cryptos and regular money, and crypto wallet providers must register with De Nederlandsche Bank.” The demand for greater KYC/AML policy is a growing global trend, so there’s no surprise there. The remarkable part for many in the crypto space is the fact that invasive regulations and restrictions by central banks can be seen as yet another means of stockpiling precious assets. This time, not gold bars, but a limited monetary tool everyday people are now freely spending and saving more and more, with great effect: Bitcoin and crypto.
Originally posted on Bitcoin