One of the main points is mentioned in the article:
> Germans were already well known for their love of physical money and data privacy.
I think the most important point here is privacy. If you deposit $10k into a bank account, of course you are tracked. But if you put the $10k into a bank vault you are not tracked.
> Also, no "cash owner" would buy gold to save vault space.
Saving vault space is only one of the reasons. Gold is more stable than cash.
> Germans were already well known for their love of physical money and data privacy.
I think the most important point here is privacy. If you deposit $10k into a bank account, of course you are tracked. But if you put the $10k into a bank vault you are not tracked.
> Also, no "cash owner" would buy gold to save vault space.
Saving vault space is only one of the reasons. Gold is more stable than cash.