Australia produces 10 million oz of Gold annually which accounts for 10.3% of global gold production.
Imagine what happens if Australia places a moratorium on gold exports, the supply drops by 10% and gold price could rise some 10-15% perhaps or more on that.
If we hoard 5 years of annual gold production of 50 million oz and were Gold to reach US$10k by then, that 50 million oz would be worth US$500B or A$715B @ 70c exchange rate. Sell it at an average of say US$5k per oz over the 5 years, proceeds would be half or US$250B and most accrued to foreign holders of our gold producers.
US$500B would immediately wipe out all our A$520B of national debt.
If Trump can think of a BTC strategic reserve, why can't we?
And that includes not selling our Gold to China too, which is 2nd largest producer exporting $1.7B per year but importing $7.1B, so you can guess that most of their gold own produced are not sold abroad.
