repatriate australian gold reserves...., page-34

Kingpin

"It is not so long ago, GFC, that banks were having problems with availability of funds between banks.
So if you have gold anyone will accept it."

Gold played no role at all in resolving the collapse in the liquidity in the interbank cash market in 2007-2008. That problem was resolved by governments providing deposit guarantees and central bank intermediation (central banks standing between lenders and borrower).


"The holding of gold is just an insurance policy just the same as your house insurance, that is all the requirement necessary to hold our own gold in our own country."

How does this insurance policy work? If an insurable event takes place (like a financial crisis) how does gold help?

Gold can't work as insurance unless you can sell it. Holding it in Australia makes it hard to sell.