repatriate australian gold reserves...., page-16

"Repatriate Australian Gold Reserves and Protect Australia from Global Crisis"

ROFL

How does the Australian Treasury holding gold in Australia protect the country from global crisis?

Can someone explain what use the gold can possibly be put to.

You might sell or lease the gold and use the proceeds to support the AUD? But what is the point of that? Australia would be in a stronger trading position if the AUD fell. And how do you deliver the gold if you are holding it in Sydney?

In the event of a global crisis and economic slump, would holding gold reserves in Sydney stimulate bank lending? Would holding gold reserves in Sydney increase investment? Would holding gold reserves in Sydney create jobs? Would holding gold reserves in Sydney increase consumer spending?

No, no, no and no!

The only reason for repatriating gold reserves to Australia (or holding gold reserves at all) is to gratify an arcane instinct for hoarding.