bactrian hoard

November 14, 2003 8:15 AM

The fascinating story of how a lone security guard in Afghanistan managed to ensure the safety of the Bactrian hoard.
posted by stbalbach (3 comments total)

Afghanistan - one of the world's poorest nations - has gold reserves at the Federal Bank Reserve in New York. Its combined gold assets, including those revealed on Friday, are thought to be worth about $350m.

I hate to be a philistine, etc., but shouldn't Afghanistan sell the gold and invest it in an economic/civil/political infrastructure?
posted by goethean at 8:27 AM on November 14, 2003

IANAE, but I think Afghanistan needs to have a certain amount of gold reserves in order to have a functional currency.

(I know the U.S. and other developed economies' currencies are not tied to gold, but I think in the case of Afghanistan, they do not have the credit profile to qualify for a $1,500 secured Visa card, much less to allow their currency to float freely.)
posted by stupidsexyFlanders at 8:51 AM on November 14, 2003

I'm pretty sure Malaysia is the only Islamic state that's considering
the Gold Standard. The Afghani is the official coin of the realm,
though Rupees from Pakistan are traded in southern provinces.
posted by Smart Dalek at 9:21 AM on November 14, 2003