Gold is within the fabric of money, not just Central Banks

Gold is within the fabric of money, not just Central Banks

A lot of posts on X frame Central Banks as malevolent institutions, and by some form of conspiracy they hold gold in their reserve accounts. And apparently not holding gold is a step towards monetary freedom - even more if you forego an atomic element (Au) for a cryptographic computer algorithm (Bitcoin).

A more productive approach is asking why do Central Banks chose gold over all other commodities and assets. Every single world reserve currency, without exception, started on a gold and/or silver standard. Gold has been used as money for over 5000 years.

I've written several articles on what makes gold so special and how Bitcoin is not a replacement for gold. I'll leave them linked below

My article on Gold vs Bitcoin, and how Bitcoin needs Gold, but Gold doesn't need Bitcoin: https://illya.sh/threads/bitcoin-needs-gold-gold-doesnt-need-bitcoin.html

My article on how all reserve currencies started on a gold and/or silver standard: https://illya.sh/threads/all-reserve-currencies-achieved-reserve-status-under-gold-or