Good point there gold bear, with fiat losing value, which sped up when we left the gold standard in 1971, it would be an improvement to return all fiat to the gold standard.

The various countries are still in competition for supremacy in the currency wars, and whoever has the most gold wins. The "they" that you mention may not be one entity but numerous countries in competition. China, Russia, India and USA are all probably in a race to accumulate it. But as you say, it may not be that scarce and some may be fake. So it could be a ruse. However, Bitcoin is digital gold, the new hard money, easier to move, and more scarce too.