freetx on Nostr: Many don't know this - but under NYC is the Federal Reserve's gold vault that holds ...
Many don't know this - but under NYC is the Federal Reserve's gold vault that holds approx 300B in gold bullion. Most of that gold is held as custody for other central banks, and that gold is intrinsically tied to the foreign reserves those nation-states have with each other.
The area itself is partitioned into separate holding areas - each designated for a different client. When trade happens between these member banks, the gold is physically moved to that clients holding area....as described here....
So when you see a headline on the news: ***South Korea Increases Reserves of Mexican Peso as Trade Increases***, what is really happening is that some man with a hand-truck are moving a few pallets of gold from an area on the floor named Korea to the area with the sign Mexico....
The implications for Bitcoin should be obvious. As Bitcoin finds its way onto sovereign balance-sheets it will take over this role.
HEAVY ROCKS UNNEEDED (obligatory ODELL font)
#Bitcoin
Published at
2024-01-19 14:57:12Event JSON
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"content": "Many don't know this - but under NYC is the Federal Reserve's gold vault that holds approx 300B in gold bullion. Most of that gold is held as custody for other central banks, and that gold is intrinsically tied to the foreign reserves those nation-states have with each other.\n\nhttps://m.primal.net/HYUy.png\n\nThe area itself is partitioned into separate holding areas - each designated for a different client. When trade happens between these member banks, the gold is physically moved to that clients holding area....as described here....\n\nhttps://m.primal.net/HYUz.png\n\nSo when you see a headline on the news: ***South Korea Increases Reserves of Mexican Peso as Trade Increases***, what is really happening is that some man with a hand-truck are moving a few pallets of gold from an area on the floor named Korea to the area with the sign Mexico....\n\nThe implications for Bitcoin should be obvious. As Bitcoin finds its way onto sovereign balance-sheets it will take over this role.\n\nHEAVY ROCKS UNNEEDED (obligatory ODELL font)\n\n#Bitcoin",
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