Core Insights - Gold has historically served as a hard currency and remains irreplaceable in value for nations and individuals [2] - As of 2013, the total amount of gold mined globally is approximately 171,300 tons, with less than 40,000 tons used as strategic reserves by various countries [2] Group 1: Gold Storage and Management - A significant portion of the world's gold reserves is not stored domestically by countries but is instead held in the United States, including 600 tons from China [4] - The Federal Reserve in New York City serves as the storage location for gold from over 60 countries and regions [6] Group 2: Historical Context and Economic Implications - The Bretton Woods Conference in July 1944 established a system where currencies were pegged to the US dollar, which was in turn linked to gold at a rate of $35 per ounce [8] - Following World War II, many countries, including West Germany, transferred a substantial portion of their gold reserves to the US for safekeeping due to America's strong economic and military standing [8][9] - The Bretton Woods system facilitated the rapid recovery of the post-war international economic order, although it collapsed in the 1970s, the tradition of using the US dollar for international settlements persists [9] Group 3: Current Status of Gold Reserves - Despite the dissolution of the Bretton Woods system, the gold reserves of various countries continue to remain in the United States [11]