Only resiliency is essentially the gold reserves that the ECB has been building.
Seems that that "gold reserves" is in the best case are some papers, vouchers, or most probably just a digit in some database. Russia lost some part of "gold reserves" due to sanctions, Didn't get deep into, but something like London stock really held the gold, and Russia had only papers that this gold belongs to Russian government.
All that thing with gold looks fucking strange - where is all that gold really? I recall a story with gold plated tungsten ingots from US, but I suppose that casting a bars of tungsten (one of the most refractory metal in the world) to use them inside fake gold ingot will make it cost nearly as gold ingot itself. Tungsten is only 4 times cheaper than gold, add the extremely high temperature casting and finally casting gold ingot with tungsten bars inside. So, it is not about money, there is something else.
The confiscation is reserves is a short term win since it will cause a lack of trust that persists forever across all nations. There will be no more global centralized gold and each central bank will manage its own exchange.
Seems that that "gold reserves" is in the best case are some papers, vouchers, or most probably just a digit in some database. Russia lost some part of "gold reserves" due to sanctions, Didn't get deep into, but something like London stock really held the gold, and Russia had only papers that this gold belongs to Russian government.
All that thing with gold looks fucking strange - where is all that gold really? I recall a story with gold plated tungsten ingots from US, but I suppose that casting a bars of tungsten (one of the most refractory metal in the world) to use them inside fake gold ingot will make it cost nearly as gold ingot itself. Tungsten is only 4 times cheaper than gold, add the extremely high temperature casting and finally casting gold ingot with tungsten bars inside. So, it is not about money, there is something else.
100%. :)
The confiscation is reserves is a short term win since it will cause a lack of trust that persists forever across all nations. There will be no more global centralized gold and each central bank will manage its own exchange.