Loading ...Must Portfolio
Gold is booming in some countries. Lesson must be learned.
Early 2000’s Zimbabwe went thru similar situation.
From a gold expert:
“IGNORE THE PROPAGANDA FROM WESTERN GOVERNMENTS AND BANKS WHO DON’T UNDERSTAND HISTORY OR GOLD. INSTEAD FOLLOW THE LEAD OF CHINA AND INDIA AND PROTECT YOURSELVES AGAINST THE COMING DESTRUCTION OF PAPER MONEY, WITH PHYSICAL GOLD AND SOME SILVER.”
“So my advice to investors is to learn from the recent economic problems/disasters in Turkey, Argentina and Venezuela. Any amount of personal gold, even very small, would have saved the holders in these countries from misery. It is also now critical to heed the strong warning signs of deep trouble coming in Europe, Japan and the USA. A 75-79% fall in the currencies of these countries is telling us that they will all go to their intrinsic value of ZERO in the next few years. This will lead eventually to the same hyperinflation as in Argentina and Venezuela.”
“As the above chart shows, China and India have bought almost 25,000 tonnes since 2008. This means that on average they have annually bought the majority of the annual gold mine production, together with Russia and Turkey”
Preaching to the Choir
“IGNORE THE PROPAGANDA FROM WESTERN GOVERNMENTS AND BANKS WHO DON’T UNDERSTAND HISTORY OR GOLD” I have a big problem believing this statement. Then ask yourself why do central banks hold gold as a reserve? Do banks and governments who benefit from the paper money scheme want to acknowledge the benefits of owning gold or do they want to control gold price to create confidence in their paper money?
Most CBs have small portion of portfolio in gold. Mostly in USD paper money.
In 1999 Gordon Brown of BOE sold 50% of gold 400T at the bottom. That is why Gold bottom in 2000 is called Brown’s bottom.
BOJ has almost no gold.
Fort Knox has just about 0T gold from 1944 24000T gold. Most of it sold or leased out to Bullion banks.
Between 2000 to 2011 there used to be a Washington agreement between G7 CBs to sell gold no more than 400T a year. That agreement no longer exist.
Italy wanted to sell its gold in 2007.
IMF sold gold to China and India in 2012. Now they have very minimum.
LOL!