Showing posts with label gold reserves. Show all posts
Showing posts with label gold reserves. Show all posts

Thursday, February 22, 2018

Russian Central Bank Gold Reserves Rise to 1,857 Tons in January, Passing People’s Bank of China’s 1,843 Ton Gold Hoard.

China understates its official gold reserves, so Russia probably doesn't have as much gold as China.  But this article does point out that Russia has accelerated its gold purchasing program.

https://smaulgld.com/russia-passes-china-gold-reserves/

Tuesday, October 3, 2017

Russian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates

This article is otherwise spot on, but one of the inaccuracies is the author assumes official Chinese gold reserves are actual.  Unofficially, China's gold reserves are vastly under-reported.

http://www.zerohedge.com/news/2017-10-02/russian-gold-reserves-hit-putin-era-high-buying-frenzy-accelerates

Sunday, July 30, 2017

Estimated Chinese Gold Reserves Surpass 20,000t

“Appear weak when you are strong, and strong when you are weak.” “The supreme art of war is to subdue the enemy without fighting.” - Sun Tzu, The Art of War

The People's Bank of China (PBOC) declares it has official gold reserves of 1840 tons.  Most pundits close to the PBOC acknowledge they have north of 4000 tons.  Koos Jansen says mainland China has over 20,000 tons.  In their estimation, at some point, the PBOC will have enough gold commensurate with their economy and declare their actual inventory, not their understated tonnage.

In doing so, they will also declare the renminbi (yuan) will be backed by gold, and that oil imports will be traded in contracts based on the remnibi, not in dollars any longer.

The US will declare a trade war on China as oil and consumer prices skyrocket, while the dollar collapses.

https://www.bullionstar.com/blogs/koos-jansen/estimated-chinese-gold-reserves-surpass-20000-tonnes/

Thursday, March 3, 2016

It's Official: Canada Has Sold All Of Its Gold Reserves

My question to all citizens: has Canada sold out its own citizens by depleting its national gold reserves to zero?  In my opinion, Canada's finance ministers just bankrupted its future.  There will be hell to pay for Canadians.

Please Google "Brown's bottom".

http://www.zerohedge.com/news/2016-03-03/its-official-moment-canada-has-no-gold-reserves-left

Sunday, February 15, 2015

Central Banks Are Boosting Their Gold Reserves

This refutes earlier reports from mainstream media that Russia was selling its gold to raise reserves.  Quite the opposite:  Russia is accelerating their gold purchases to prop up the rouble.  Eventually, between China and Russia (and Iran), their respective currencies will be backed by gold.  This would destroy the value of fiat currencies from insolvent western economies.

http://www.bloomberg.com/news/articles/2015-02-12/central-banks-hungry-for-gold-bought-enough-for-75-dreamliners

Saturday, December 6, 2014

Saturday, November 29, 2014

Swiss, French call to bring home gold reserves as Dutch move 122 tons out of US

This begs the question why the Dutch were able to repatriate a smaller amount of gold out of New York, while the Germans could not repatriate a much larger amount.

http://rt.com/business/209591-gold-europe-gold-repatriation/

Wednesday, May 28, 2014

Putin Says Russia, China Need To Ensure Security Of Their Gold Reserves

Here's some background on the comment about China officially announcing their gold reserves (see article link below).  Previous to 2009, China's central bank officially only had a few hundred tons of gold reserves.  After accelerating their buying programs, they announced they had accumulated 1054 tons in 2009.  This was one of the reasons why gold prices surged even higher into 2011 to an all-time high of $1923/oz.

Since that official announcement, the Chinese have been methodically adding to their reserves (some analysts would describe the buying as furious).  Recent estimates of Chinese gold holdings from observers at Swiss refiners, COMEX and ETF vaults, and Hong Kong and Shanghai exchanges range from 4,000 - 6,000 tons.  Some theorize it is not only western central banks (specifically the Fed and the Bank of England) and their bullion bank proxies suppressing the price of gold (in order to mask the debasement of the USDollar), but the Chinese are also suppressing prices in order to buy physical gold bullion at lower prices.

In essence, the western banks naked short paper gold contracts, artificially driving down spot prices, while Chinese (as well as Indian, Russian, Asian, and Middle Eastern) buyers are snapping up physical gold at discounted prices.  This blowback emptying of vaults will ultimately doom the economies of the bankrupt western world, signifying the largest wealth transfer in history from the western economies to the eastern.

The take away message is if and when the Bank of China officially announces their gold reserves, the tonnage will be so high that markets will react violently and bid up the price of gold again, as it did in 2009.

http://www.zerohedge.com/news/2014-05-28/putin-says-russia-china-need-ensure-security-their-gold-reserves

Thursday, October 3, 2013

Banca d'Italia says gold reserves key to cenbank independence

Wow, a central banker dispensing some truth serum while still in office.

http://www.reuters.com/article/2013/09/30/lbma-central-banks-idUSL6N0HQ16A20130930

In a keynote address to the London Bullion Market Association's annual conference, Salvatore Rossi, director general of the Italian central bank, told delegates that gold plays a special role in central banks' official reserves.

"Not only does it have the vital characteristic of allowing diversification, in particular when financial markets are highly integrated, in addition it is unique among assets in that it is not issued by any government or central bank, so its value cannot be influenced by political decisions or by the solvency of any institution," he said.

"These features, coupled with historic ... and psychological reasons, stand in favour of gold's importance as a component of central bank reserves," he said. "Gold underpins the independence of central banks in their ability to (act) as the ultimate bearer of domestic financial stability." 

Monday, May 27, 2013

From paper reserves to gold reserves

This author does a good job of describing the coverage ratio:  backing each currency unit with gold reserves.  But what he doesn't address is that official gold reserves are over-stated, due to re-hypothecation.  In layman terms, the gold holdings in central banks worldwide don't exist because they have been re-pledged, leased out, or outright sold off to multiple entities.  The golden empire is naked.

http://www.goldmoney.com/gold-research/gabriel-m-mueller/from-paper-reserves-to-gold-reserves.html?gmrefcode=gata

Saturday, May 4, 2013

China Set to Become World’s #2 in Gold Reserves?

China's been pretty transparent about their plans to accumulate gold.  The US media has not been reporting it, which isn't surprising--considering this signals the demise of the USDollar as the reserve currency of the world.  The dollar will collapse, along with our savings and purchasing power.

http://www.goldalert.com/2012/11/china-set-to-become-worlds-2-in-gold-reserves/