Why in the world do other countries have ANY gold held by Fed Reserve or in Londor?

[srj19]

Hey BrotherJohn,

I'm piecing together the big picture (like a lot of people).

There have been a lot of stories recently about countries like Venzuela, India, Switzerland and Germany becoming interested in repatriating Gold held outside their borders.

What I don't quite understand is why so many countries have gold stored outside their country and in the hands of the Federal Reserve or in London. Is it some world banking system collateral or something?

Scott