From what this post has learned, when you buy gold you only get certificate of gold deposit. You do not get deliveries of physical gold. Perhaps a 5,000 units certificate are over a 1,000 on physical gold. And when you ask for delivery.....
That is why Germany and France (not 100% trusting US) took physical delivery of gold - their reserves from US. And thereafter, Pres Nixon in 1973 ended the pegging of dollar to gold as specified in the Bretton Woods agreement of 1944. The dollar was no longer gold backed. It became just a fiat, and its value depended on trust at US. Probably starting the end of US dollar as legal reserve for banks.
Not many countries think US is trustworthy now...
1. Its 38T dollar debt that many think cant be repaid;
2. Weaponizing the dollar as in the case of sanctions vs Iran and Russia
3. The harsh tariff being imposed by DT vs the world (fortunately US SC has ruled that DT
has exceeded his power by using an emergency law to dictate an economic policy
