Posted on 02/16/2025 4:02:59 AM PST by hardspunned
Deep under the Bank of England, in a network of vaults into which cameras are rarely admitted, sits the world's second biggest known trove of gold.
Once upon a time the Bank's vaults stored bullion owned by the Crown but these days they serve mostly as a repository for other central banks and private banks that want to hold on to this critical asset.
But in recent weeks fears have been raised that the vaults are slowly being emptied - leading to other fears, that the Bank is struggling to keep up with the outflow. All of which raises a somewhat ominous question: is the Bank of England running out of gold?
Well, now the governor has told Sky News that there is no shortage of gold left inside the central bank's vaults, though he acknowledged that billions of pounds of bullion had left and been flown across the Atlantic in recent months.
(Excerpt) Read more at news.sky.com ...
Trump is bi+ch slapping the Euroweenies back to reality. Hopefully he’s not too late to MEGA too.
If I had money, I’d probably buy gold. DOGE is going to audit FT Knox.
Then buy silver.
Gold is wealth, but silver is currency. When we go to a PM-backed financial system (sooner than you might think), gold will initially lead. Silver will follow and then... lead.
The gold-silver-ratio historically is 10-15. Today it is 91. If gold held today, and the GSR returns to 10, silver in fiat dollars would be $300.
There is little to no gold in Ft. Knox. True story. I read it on the interwebs.
I think privately owning gold is a waste. How could it be used for currency? The only gold I own is a filling in tooth I had to get pulled.
Lead, brass and food is a better option.
The problem with physically owning metals is there is no efficient market. You pay a premium (and in some places sales tax) when you buy it, and the few places you can sell it demand a discount.
The guy making money when you trade your fiat for gold is the guy taking your fiat and giving you gold. If you can’t figure that out, you’re missing what is going on
That’s nonsense. Coin dealers and gold buyers don’t care if gold is going up or down in price. They make money on the spread. It is absolutely no different than buying or selling anything else.
Selling (or buying) gold is the easiest (and probably the fastest) exchange on the planet. Stick to recognized government issued coins of known weight and purity.
-——————————>went to Schiffgold and bought some.
Lead, brass and food is a better option.
What will you use as barter when that’s all gone? After the SHTF and things calm down what will you have to barter?
We’ve talked about this in our prepping group and it all comes down to some kind of money. Something everyone recognizes as a store of wealth. Whether it be wooden nickels or silver coins. With humans, even with indigenous people, wealth is something that you had to work for be it beads, seeds, feathers , wild animal teeth, precious stones. A universally recognizable trading item.
Owning physical gold is only good for one thing: Buying back into the economy after a crash and recovery. Asset protection. Akin to Evel Knievel stockpiling diamonds because he couldn’t get insurance companies to insure him.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.