The enduring value of gold in a hyper-technical age is explored, questioning why countries invest in it despite technological advancements. Gold's high stock-to-flow ratio, divisibility, and resistance to rust make it a reliable store of value, unlike currencies and commodities. Global central banks' shift towards buying gold and selling treasury bonds since 2014 signals a move away from dollar dependence. Secrecy surrounding gold movements raises concerns of deception and fraud, especially with major shifts occurring without transparency. Luke Gromen suggests gold is a geopolitical metal, a hedge against the dollar system, and a means for countries like China to challenge currency dominance. The discussion also covers the potential for gold to facilitate economic restructuring and the revival of American manufacturing.
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