No Central Bank Should Hold Gold: Citigroups Buiter

The video discusses John Maynard Keynes' perspective on gold, describing it as a 'barbarous relic' and examining its role in central banks' reserves. It explores the potential consequences of a gold market flood and the political implications. The discussion shifts to gold as a commodity, highlighting its minimal intrinsic value and the speculative nature of its market. The video concludes by examining the practical uses of gold, such as in jewelry, and its role as a store of value.

What did John Maynard Keynes famously describe the gold standard as?

• A modern necessity

• A valuable asset

• An economic miracle

• A barbarous relic

Why are central banks unlikely to sell off their gold reserves?

• Due to potential political backlash

• Because gold is too valuable

• Because gold is a renewable resource

• Due to high demand in the market

How is gold perceived in terms of investment strategy?

• As a long-term strategy

• As a short-term bet

• As a stable investment

• As a high-risk venture

What is the intrinsic value of gold compared to other commodities?

• No intrinsic value

• De minimis intrinsic value

• Moderate intrinsic value

• High intrinsic value

What portion of gold's use is attributed to speculation?

• All of it

• None of it

• Half of it

• A quarter of it