The estimate is the total amount of gold in fort Knox is say $440bn? Which is 1.22% of the national debt? Trust doesn't come into it therefore? The bigger question is whether the governments truly have all the gold they say and the real effect it has on the trust of the governments fiscally. My final question is what is the point of governments holding all this gold. For example, china is officially estimated to have 1.22% of its GDP, but if at unofficial max if 1 billion Troy ounces then that becomes 15% of GDP.

Some say, it acts as collateral. Really? 1% for most countries of debt and gdp? Most deposits for consumers range between 10% to 30%.

Am not trying to be difficult. I have a hypothesis on all this, yet it cannot be proven.

The non conspiracy theory version could be that holding gold simply allows for rehypothecation in the paper markets.