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A comment on Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions. Parent comment

Re:Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose M... by JumpCrisscross on Wednesday May 23, 2018 @10:34PM (#17140566)
> Fort Knox has an entire military base to secure it

Fort Knox has basically nothing to do with the modern U.S. dollar financial system.

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Re:Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose M... by slededit on Wednesday May 23, 2018 @10:44PM (#17140628)
You don't consider a country's reserve assets to be a factor in their monetary system? An interesting way to see the world.
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Re:Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose M... by JumpCrisscross on Wednesday May 23, 2018 @10:49PM (#17140654)
> You don't consider a country's reserve assets to be a factor in their monetary system?

The U.S. dollar isn't backed by gold. The total value of the gold at Fort Knox, about $100 billion, is negligible [1] and does not appear on the Federal Reserve's balance sheet [2]. It is mostly an anachronism from the eras of the gold standard.

[1] https://en.wikipedia.org/wiki/United_States_Bullion_Deposito...

[2] https://www.federalreserve.gov/monetarypolicy/bst_fedsbalanc...

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