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RE: Hungary's Central Bank To Repatriate Its Gold From London

in #hungary7 years ago

It's very wise for Hungary to do this, just as it was wise for the Germans to ask for their gold back. In the event of another crisis, countries that don't have physical possession of their gold are at risk of having it confiscated by the host countries. The confiscating countries would cite national security as justification for the confiscation, and might provide compensation in the form of fiat currency, but that would only provide scant consolation. Countries need to have physical possession of their gold. The U.K. was really stupid to sell most of its gold at close to the bottom of the market some years ago.

gold is money.jpg