Posted on 06/19/2024 3:33:18 AM PDT by davikkm
The 2024 Central Bank Gold Reserves (CBGR) survey conducted by the World Gold Council reveals that 29% of central bank respondents plan to increase their gold reserves in the next twelve months. This is the highest level observed since the survey began in 2018. The motivations behind these planned purchases include a desire to rebalance gold holdings, domestic gold production, and concerns related to financial markets, including higher crisis risks and rising inflation.
(Excerpt) Read more at citizenwatchreport.com ...
There’s not enough gold to cover today’s debt.
There might be if it’s valued at about 5 times it’s current $ rate.
Which would put it back in line with 1913 $20/oz. Bigger play would be to revalue silver where the ratio is way off the historic norm. Today it’s about $2400/oz once premiumns are factored in. (yesterdays spot closed at $2328)
Inflation calculator puts 1913 $ at 3072% more value than todays dollar - that’s how much they’ve stolen from us through inflation.
In preparation for the dollar being replaced as the reserve currency by the Yuan.
I’m not sure it will be the Yuan, but I think the dollar is definitely headed for the ash heap. There are many things in play right now that indicate a new game is going to be played real soon.
maddog55 :" There’s not enough gold to cover today’s debt."
reed13k :" There might be if it’s valued at about 5 times it’s current $ rate." (..continues)
"The 2024 Central Bank Gold Reserves (CBGR) survey conducted by the World Gold Council
reveals that 29% of central bank respondents plan to increase their gold reserves in the next twelve months.
This is the highest level observed since the survey began in 2018.
The motivations behind these planned purchases include a desire to rebalance gold holdings, domestic gold production,
and concerns related to financial markets, including higher crisis risks and rising inflation."
(My opinion) : Do they see an event on the horizon that would justify precious metals valued over currency ?
Don't forget that Saudi Arabia just recently let the fifty year agreement expire whereby oil is traded and capitalized on the American dollar .
Is there justification for concern ?
What say you ? Comments welcomed !
Mean while, Numb Nuts has depleted the oil reserve. (SPR)
Gold has been rehypothecated by banks as collateral over the years—a total joke.
There is zero transparency.
If you can’t touch it you don’t own it.
It’s a bit hard to get a precise fix on what really is going on in the world, but if 10% of what the Canadian Prepper posts is true, then we are very, very close to WWIII.
A lot of decades old nuclear doctrines are hastily being rewritten regarding NATO and Ukraine. I fear Russia is (again) being provoked and at some point may have to become unrestrained. That 200 mile limit of Ukraine being allowed to strike in Russia with US weaponry has now been extended. So basically the US can attack inside of the sovereign Russia. You think Russia is going to allow their citizenry to be attacked with impunity? Putin continues to warn the west that they are unnecessarily pushing the world to the brink.
Russia and the NORKS just signed a mutual military aid agreement after the NORKS shipped millions of rockets to Russia.
The US is ramping up China as the boogieman, albeit while China does appear to be prepping for an invasion of Taiwan.
BRICS are surely but steadily dethroning the US dollar as the reserve currency.
After 50 years, the Saudis have now scrapped the Petro dollar.
Central banks are hoarding gold.
All of this, and unless someone actually looks, most Americans are completely unaware of the garrot tightening around their necks.
There is a reason gold and silver is being bought in earnest by the wealthy as well as purchases now quickly becoming mainstream (see Costco and WalMart).
“29% of central bank respondents plan to increase their gold reserves in the next twelve months”
Wouldn’t that raise the price? Might be a good time to buy. For those of us that missed the first buying opportunity.
Is hyperinflation a concern? I think so.
It's probably inevitable, given our outrageous amount of federal debt.
"Every day the bucket goes to the well, one day the bottom will drop out."
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