Posted on 11/01/2018 8:53:05 PM PDT by NRx
Central banks around the world have upped their spending on gold to the highest level in almost three years, according to the World Gold Council (WGC).
More than 148 metric tons of gold were bought by the national banks in the three months to the end of September, a rise of 22 percent on the same period last year.
Using the current spot price of $1,223 per troy ounce, the gold purchases by the banks added up to a $5.82 billion spending splurge on the precious metal.
Russia’s central bank led the buying, purchasing more than 92 tons of gold. This marked the country’s biggest quarterly net purchase on records that stretch back to 1993.
In May this year, the Russian central bank’s First Deputy Governor Dmitry Tulin told lawmakers in the lower house of parliament that gold was “a 100 percent guarantee from legal and political risks.”
(Excerpt) Read more at cnbc.com ...
So does Silver.
No ones’ Life, Liberty or Property is safe, while the legislature is in session.
The smart people are buying brass & lead; ammo is far more valuable than either gold or silver. I’ve been buying since 9-12-2001.
“There are only two ways this can be handled. Overt default (i.e. Thank you for lending us your money or believing our promises to provide you with your golden pension and social security, but we are stiffing you. Have a nice day.) or massive money printing. Given the spineless nature of politicians, my money (literally) is on the latter.”
How soon one forgets the other option, like the one O’bastard used during his 8 yr reign of terror.
Just fake the inflation numbers to zero and hose everybody on SS.
This tells me absolutely NOTHING!
Ok; now they have gold in their vaults; right?
Yeah; sure...
Yup!
The crash WILL come; it merely depends on WHEN
I've always wondered: How does this work?
It has no mystical qualities
But I earned my pension. I am owed my pension. It was a solemn promise. Cut out all the wasteful spending and it can be paid. What about all the people who are not working. We are paying illegals. I was promised.
shtfplan article forthcoming
“The Central Banks are preparing for something and you should too.”
Find a dealer. Check the BBB rating. Order the coins. There are online places to buy them. You can use your credit card or send a check (slower).
Order ships out within a day at the rate you locked in. Delivered by UPS and you sign for it. Store it in fire proof safe or Deposit box. However during emergencies, bank might be closed, so keep some cash and coins at home.
Yep Bourbon will be the leading US commodity!
Gold is for keeping, not selling
Many people believe as you do. Oh yes, you WILL get the nominal value of your pension so the .gov’s obligation to you will be met. However, good luck in buying a single loaf of bread with it.
Ha. Caught in a sarcasm trap. Sorry, I left off the /s! I just had to see if anyone took the bait. FWIW I too have missed the missing /s several times recently. Thanks to the libs we have lost irony, sarcasm, parody, and we are well on the way to losing farce.
Even weirder is that traditionally platinum has sold at a 5-10% premium to gold. Right now, that's inverted.
Spot prices:
Gold - $1234.80
Platinum - $869.00
Silver - $14.88
Silver has been bottoming out lately.
The silver to gold price ratio has been upwards of 80:1 for a couple of months now. Historically that is very high. I have been nibbling in silver.
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