Swiss Security Problem: Storing Gold
Seems like the Swiss may be running out of secure gold storage. If this is true, it's a real security issue. You can't just store the stuff behind normal locks. Building secure gold storage takes time and money.
I am reminded of a related problem the EU had during the transition to the euro: where to store all the bills and coins before the switchover date. There wasn't enough vault space in banks, because the vast majority of currency is in circulation. It's a similar problem, although the EU banks could solve theirs with lots of guards, because it was only a temporary problem.
Posted on July 28, 2009 at 7:13 AM • 61 Comments