I agree: you’d probably pawn the gold off to some billionaire for some nominal amount less than its face value. (Would the government would let you as a private citizen just sell them like $70 million in gold?) I’m assuming this is legal, in-the-clear, and it doesn’t matter if we assume it was created out of thin air.
I say “less than” because the buyers know you probably lack connections and just want it gone ASAP so you’re not robbed or worse. Still, whatever percentage hit you take can’t be anywhere near the 40% difference between the cash and the gold, and you’d probably dump it so quick that the investment opportunity cost wouldn’t matter.
I agree: you’d probably pawn the gold off to some billionaire for some nominal amount less than its face value. (Would the government would let you as a private citizen just sell them like $70 million in gold?) I’m assuming this is legal, in-the-clear, and it doesn’t matter if we assume it was created out of thin air.
I say “less than” because the buyers know you probably lack connections and just want it gone ASAP so you’re not robbed or worse. Still, whatever percentage hit you take can’t be anywhere near the 40% difference between the cash and the gold, and you’d probably dump it so quick that the investment opportunity cost wouldn’t matter.