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NYT said:...
During the cold war, West Germany followed a policy of storing its gold as far west as possible in case of a Soviet invasion. While that worry is gone, there is still an argument for keeping some gold in financial centers like New York and London. It remains the one currency that is accepted everywhere. ...
gold in Moscow
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Almost five decades after the collapse of the Bretton Woods system, gold continues to form an important share of global foreign exchange reserves. This may be because gold has traditionally offered reserve managers many benefits, such as the absence of default risk. ...
... are you asking:
... to reply to your post a) quoting a post mentioning Central Banks + Gold and b) using in the reply-text "#tradition"?
... or to reply to any post mentioning Central Banks + Gold, using "#tradition"?
Federal Reserver Chair Jerome Powell at The New York Times DealBook Summit on Dec. 4.
While cryptocurrency fans like to float Bitcoin as a possible replacement for the U.S. dollar, Federal Reserve Chair Jerome Powell doesn’t quite see it that way.
Speaking at The New York Times (NYT) DealBook Summit in Manhattan Wednesday, the central banker said Bitcoin is a speculative asset like gold, rather than something comparable to a currency.
“It’s just like gold only it’s virtual,” Powell said. “People are not using it as a form of payment, or as a store of value. It’s highly volatile. It’s not a competitor for the dollar, it’s really a competitor for gold.”
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