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SkyChief
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Central Bank Gold Hoarding Hits 50-Year High
Reply #100 - Jan 12th, 2020 at 8:20pm
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Central banks accumulated over 668 tons in gold purchases this year, which is more than 2018’s record numbers. In fact, the key drivers in gold demand this year stemmed from central bank purchases, most of which were bought (390 tons) during the first two quarters of 2019.





The smart money is in physical gold. 

Central banks aren't stupid.  They know why countries should be shifting their assets from US Treasury bonds to gold.

http://www.silverbearcafe.com/private/12.19/hoarding.html
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #101 - Jan 13th, 2020 at 8:10am
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SkyChief wrote on Jan 12th, 2020 at 8:20pm:
Central banks accumulated over 668 tons in gold purchases this year, which is more than 2018’s record numbers. In fact, the key drivers in gold demand this year stemmed from central bank purchases, most of which were bought (390 tons) during the first two quarters of 2019.

http://www.silverbearcafe.com/private/12.19/images/buying.jpg

http://www.silverbearcafe.com/private/12.19/images/index.jpg

The smart money is in physical gold. 

Central banks aren't stupid.  They know why countries should be shifting their assets from US Treasury bonds to gold.

http://www.silverbearcafe.com/private/12.19/hoarding.html
It must be nice to run your own central bank, creating lots of fiat money and using it to buy tons of gold.
  

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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #102 - Jan 13th, 2020 at 12:09pm
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Jeff wrote on Jan 13th, 2020 at 8:10am:
It must be nice to run your own central bank, creating lots of fiat money and using it to buy tons of gold.
Many countries do this.  Today,  all currencies are backed only with faith and credit.

They know that its vital to have real assets, so many countries are repatriating their gold reserves.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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kaz
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #103 - Jan 13th, 2020 at 5:03pm
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SkyChief wrote on Jan 13th, 2020 at 12:09pm:
many countries are repatriating their gold reserves.


What does that mean?  I know what the words mean, I just don't know what they mean strung together in that sequence. 

How do you "repatriate" gold?  Are you saying countries are storing gold overseas?  Why would they do that?

Also, I don't know any country that is backing their currencies with gold.  Do you know any?
  

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Jeff
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #104 - Jan 13th, 2020 at 6:05pm
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kaz wrote on Jan 13th, 2020 at 5:03pm:
How do you "repatriate" gold?  Are you saying countries are storing gold overseas?  Why would they do that?

Yes, of course they are, don't you know anything?

They do it because they think their gold will be safer someplace like the Federal Reserve Bank of New York.
  

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kaz
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #105 - Jan 13th, 2020 at 6:08pm
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Jeff wrote on Jan 13th, 2020 at 6:05pm:
Yes, of course they are, don't you know anything?

They do it because they think their gold will be safer someplace like the Federal Reserve Bank of New York.


Link?

Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley Smiley

OMG, I'm funny.  I asked Jeff for a link ...
  

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Jeff
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #106 - Jan 13th, 2020 at 6:19pm
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kaz wrote on Jan 13th, 2020 at 6:08pm:
OMG, I'm funny.  I asked Jeff for a link ...
Idiot. lazy idiot to boot...

https://money.cnn.com/2017/08/23/investing/germany-gold-reserves-new-york-paris/...
  

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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #107 - Jan 13th, 2020 at 9:15pm
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kaz wrote on Jan 13th, 2020 at 5:03pm:
What does that mean?  I know what the words mean, I just don't know what they mean strung together in that sequence. 

How do you "repatriate" gold?  Are you saying countries are storing gold overseas? 

Yep.  They're storing it HERE in the US.

kaz wrote on Jan 13th, 2020 at 5:03pm:
Why would they do that?
I truly don't know.  But many countries are storing their gold reserves in the US.

But that has recently changed.  They want their (physical) gold returned.

kaz wrote on Jan 13th, 2020 at 5:03pm:
Also, I don't know any country that is backing their currencies with gold.  Do you know any?


No country backs their currency with gold.  Not ONE.  There is simply not enough gold to do that.

But the fact they are repatriating gold is writing on the wall.

Can you see the message?
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #108 - Jan 13th, 2020 at 9:26pm
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SkyChief wrote on Jan 13th, 2020 at 9:15pm:
Yep.  They're storing it HERE in the US.

I truly don't know.  But many countries are storing their gold reserves in the US.

But that has recently changed.  They want their (physical) gold returned.


No country backs their currency with gold.  Not ONE.  There is simply not enough gold to do that.

But the fact they are repatriating gold is writing on the wall.

Can you see the message?



Widespread dissatisfaction with high inflation in the late 1970s and early 1980s brought renewed interest in the gold standard. Although that interest is not strong today, it seems to strengthen every time inflation moves much above 5 percent. This makes sense: whatever other problems there were with the gold standard, persistent inflation was not one of them. Between 1880 and 1914, the period when the United States was on the “classical gold standard,” inflation averaged only 0.1 percent per year.

AS far as I know, Switzerland was the last country to have any gold backing for their currency (Swiss Franc). That was some time in the last century. So if you ask why. Why they do or why they don't? They don't because any linkage between the gold and currency would limit them from manipulating their money supply. So why do they hold gold bullion? Because when the shit hits the fan, they'll need it. And they know it.
  
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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #109 - Jan 13th, 2020 at 9:51pm
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yamcha wrote on Jan 13th, 2020 at 9:26pm:
AS far as I know, Switzerland was the last country to have any gold backing for their currency (Swiss Franc). That was some time in the last century. So if you ask why. Why they do or why they don't? They don't because any linkage between the gold and currency would limit them from manipulating their money supply. So why do they hold gold bullion? Because when the shit hits the fan, they'll need it. And they know it.

Right.

the writing is on the wall.

When SHTF, these countries want their gold in THEIR vaults - NOT in US vaults.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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