Many crypto-sea people were surprised to find an article on the De Nederlandsche Bank website. It asserts that “if the entire system crashes, the gold stock will provide a collateral to start again.” Although such bold statements are not uncommon, it is unusual to see a major financial institution speak out about the superiority and value of sound money assets in a limited supply. Perhaps a little too hypocritical given the diametrically opposing Keynesian practices that central banks all over the globe are engaging in. More about Charity Token Homeless
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The article translated as “Goud van DNB” (“Gold From DNB”) says: “If things don’t go according to plan, prices could fall. DNB claims that it holds over 600 tons (or 15,000 bars) of gold, mostly in Amsterdam. It also has other stores in the U.K., and North America. The bank estimates that the reserve is worth over EUR6B ($6.62B). Gold is the “trust anchor”, the article describes briefly why gold is so crucial to wealth building and the global economic system.
Gold is… the trust anchor for our financial system. The gold stock can be used as collateral in case the whole system falls apart.
According to local media, the bank announced on October 7 that they were moving large amounts of their gold reserves soon to “the new DNB Cash Centre located at military premises in Zeist”.
Dutch National Bank says gold can re-start economy in case of total collapse
Photo of gold bars taken from the DNB article, “Goud van DNB.”
Even banks that are not financially sound want sound money
DNB is used to the Keynesian and inflationary games of global monetary system. According to some, the system is more of an economic Ponzi scheme that relies on force and blind trust than it is based on sound economic principles. The centralized financial powers in the world do know the real score. This is why hard assets like gold can be hoarded and locked away, while each day, residents of these geopolitical areas are encouraged to spend and borrow to support ultimately unsound national economies.
According to news.Bitcoin.com, De Nederlandsche Bank has announced that it will crack down on crypto exchanges. It stated that “firms offering services in the exchange of cryptos with regular currency and crypto wallet providers have to register with De Nederlandsche Bank.” There is no doubt that the demand for a stricter KYC/AML policy is growing globally. One of the most striking aspects in the crypto space is that central banks and invasive regulations can be seen as another way to stockpile valuable assets. It is not gold bars anymore, but crypto and bitcoin are a limited monetary tool that everyday people use to freely spend and save more.