Poland also have around $50B in gold reserves.
Is there some law or unwritten law that requires Central Banks to keep so much gold? It looks like waste of resources to me, especially so if it's kept abroad. Is there a scenario in which it's better than just keeping reserves in mix of various government's bonds or some other asset like land or something else.
The idea of all countries having it in one location: If you have to transfer money to a different country for whatever reason you just have to put the gold from one part of the vault to the other. Money securely, physically and quickly transferred.
Also you have the physical money and don't rely on computers or similar. More secure (if you ignore Die Hard 3).
If countries start moving the gold away it's a) sign that they need the money elsewhere or b) they don't trust the current location anymore.
This is not as much as it looks like at first glance. "Revenue" for the german state is something around $2000B, while their ~3000 tons of gold are worth ~300B.
It is plausible to me that building up a gold reserve might be worth it, longterm, purely because the gained trust/perceived stability nets you slightly better conditions when financing megaprojects alone (like the Fehmarn tunnel): Over a few centuries you might save tax dollars thanks to investing into bigger gold reserves earlier.
And gold is objectively useful if things go to shit-- just look at Russia for a recent example-- gold is nice for mitigating sanctions and stabilizing your currency under bad conditions.
This is called war chest. Because the war is coming.
II World War hasn't started with German attacking Poland 1.IX.1939 and Russia (Soviet Union) on 17.IX.1939. There was Spanish Civil War earlier (1936), annexation of the Sudetenland - part of Czechoslovakia in 1938.
