In the event of a complete system failure on the part of the global economy, gold would remain the only saviour. This is because fiat currency would become inferior to gold incase the financial system collapses. The details are according to a European Central Bank. 
<h3>De Nederlands Banks (DNB) ‘Gold is Indispensable’</h3>
The Dutch Central Bank popularly known as the <a href="https://en.wikipedia.org/wiki/De_Nederlandsche_Bank">De Nederlandse Bank (DNB) </a>noted that gold would be indispensable in case of a fiat break down. According to a statement by the bank, Gold is the trust anchor of the financial system. It is clear that gold would offer some type of collateral for the system to pick from. For instance, Central banks obtain confidence in the strength of their Central Bank’s balance sheet from gold stocks. The Dush Bank claimed that it gives the system a sense of security and financial safety. 

However, Central Banks buying gold is no news given that it has been a routine since the financial crisis of 2008. Meanwhile, it is the bank’s phrasing of the situation that is exciting bitcoin and gold proponents. 

Gold features the highest stock-to-flow ratio of any commodity. It is also considered a form of money and has previously assured economies sound functionality; before central banks decided to uncouple their national currencies from the backing of gold, years ago.
<h3>Gold Over Fiat</h3>
This single decision cost economies a lot, and resulted to decay which plagued entire countries. In the meantime, Central Banks have manipulated the supply of fiat currency. Which is an impossible fit to accomplish with gold due to its unique stock-to-flow ratio.  The debate championing Gold quality over paper has attracted the attention of bitcoin figures. A Digital Assets Manager at VanEck, <a href="https://www.linkedin.com/in/gaborgurbacs">Gabor Gurbacs </a>added that DNB is an established Bank and is speaking to the times we live in. The assets manager continued that :
<blockquote>"I firmly believe that private/non-sovereign moneys have a place in our world. Private moneys should be allowed to compete in the free market with central bank moneys."</blockquote>
In the course of the debate, Mike Novogratz (a serial investor) told CNN that gold and bitcoin were sound money and would benefit the financial system incase fiat fell. The investor said the following during the October 11 interview. 
<blockquote>“We’ve got geopolitical uncertainty, we’ve got negative rates; it’s all bullish for gold and bullish for Bitcoin.” </blockquote>
<h3>Bottom line</h3>
However, they were also negative rants and one stood out. <a href="https://www.cryptoknowmics.com/crypto/apple-will-not-create-its-digital-currency-says-cook/">Apple CEO</a> Tim Cook highlighted that only governments should have control over fiat. The CEO of the Cupertino Giant exclaimed his sentiments in the context of Facebook’s current challenges to launch a stablecoin.

Gold Will Rescue the Economy from a General Collapse

My first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.

Gold Will Rescue the Economy from a General Collapse

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