On the grand scheme of things this is 12bil usd worth of gold. The GDP of Netherlands is 1.4 trillion USD. So, this is honestly a foot note.

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fbrncci 18 hours ago | parent | next [-]

Not the right comparison to make when comparing gold vs paper currency that can be printed at a whim. The comparison would hold if they pulled out physical fiat currency reserves.

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everybodyknows 18 hours ago | parent | prev | next [-]

To put in human terms, it's roughly three day's labor of every worker in the Netherlands.

	▲	tosti 18 hours ago \| parent [-]
		Make that the cat wise.

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radiator 15 hours ago | parent | prev | next [-]

The sum of 12 billion USD would be correct for paper gold probably. But in practice, the supply of paper gold exceeds that of physical gold.

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SanjayMehta 19 hours ago | parent | prev [-]

GDP is just a number in a spreadsheet. This is a physical asset.

	▲	apexalpha 16 hours ago \| parent [-]
		GDP is a proxy for economic output. This is a static collection of a certain element producing nothing.