Mixing of concept.

Lack of understanding of gold and Gresham's law.

First, gold is most liquid assets in all assets class. try bring some paper currency overseas, people likely will tell you they will not exchange their physical possession with you.

From all around world, from Peru to Zimbabwei, to China, you can use gold as real money.

Government confiscation is in essence they recognize gold as money.Otherwiese, why do they do it if it is useless? Did you even ask that question?

Back in 1930's, US gold are moving to Switzland, where it can freely traded and exchanged. Do you know that?

Second, how much gold banks really have on their holding? They do sell gold to fill up the debt obligation. But did you even compare the debt load of banks, of governments with what they actually hold for gold reserver? Which is bigger?

Third, what expenses will you incur when you take physical delivery? Bank storage? those days, who dare to store gold in bank safe? It is like to tell government, I have gold, please confiscate it! If you store it yourself, what expenses? Especially if you store is a gold safe country, the expenses are very limited. Such as Perth Mint.

So, study some history, some facts, and learn something real instead listen to Wall Street and in that regards, Warren Buffett. LOL