News for hackers. Stuff that matters.

A comment on Palantir bought $50M in gold bars in August as cash pile grows. Parent comment

Re:Palantir bought $50M in gold bars in August as cash pile ... by defgeneric on Tuesday August 17, 2021 @04:01PM (#28214183)
Still, on the other end of the trade the capital remains parked or "hoarded" in gold. It is removed from circulation.
[ Parent | on HN ]
Re:Palantir bought $50M in gold bars in August as cash pile ... by missedthecue on Tuesday August 17, 2021 @04:04PM (#28214216)
I don't understand what you're saying.

If Palantir buys $50MM in gold, they are not removing $50MM from circulation. They are giving $50MM to another entity, and receiving a piece of paper that says they own x number of gold bars in a vault somewhere. The gold doesn't move. The gold isn't doing anything different than it was before Palantir owned it.

The fifty million dollars continues to flow and buy goods and services. It is not removed from circulation. If you go out and buy a bar of gold do you think you are removing money from circulation?

[ Parent | on HN ]