- Reaction score
I saw this posted at ZH. I didn't attach the same level of importance to it that ZH did, but I do find it curious. Someone at the DNB probably going to lose their job after letting this get published (emphasis is mine):
Shares, bonds and other securities are not without risk, and prices can go down. But a bar of gold retains its value, even in times of crisis. That is why central banks, including DNB, have traditionally held considerable amounts of gold. Gold is the perfect piggy bank – it's the anchor of trust for the financial system. If the system collapses, the gold stock can serve as a basis to build it up again. Gold bolsters confidence in the stability of the central bank's balance sheet and creates a sense of security.