Central Banks Hoard Gold and So Should You
October 10th, 2012I found this video titled “Ron Paul Owns Ben Bernanke in 10 seconds” I might have said “Schooled” Ben Bernanke, just to avoid the language of human ownership. But it’s a pretty sound argument I think… the great and noble central planners that are tasked with keeping the world’s baseless paper currencies afloat all hoard gold… why would they do that? They’re currencies aren’t redeemable for gold. None of them are tied to gold. So why are they all still keeping huge stores of gold in their reserves? It almost seems like they don’t swallow the BS they’re spoon feeding you. Well, that should tell you something.
Vladimir Putin has reportedly doubled Russia’s gold stockpile in the last five years, spending about half a billion dollars on acquisitions each month.
The World Gold Council (WGC) recently reported that global central banks have increased their gold purchases 137.9% in the last year, including a list of 10 countries with the largest official gold holdings:
10) India: 557.7 tonnes
9) Netherlands: 612.5 tonnes
Japan: 765.2 tonnes (Up from just 6 tonnes in 1950)
7) Russia: 936.7 tonnes
6) Switzerland: 1,040.1 tonnes
5) China: 1,054.1 tonnes (Increasing gold reserves in order to compete as the world reserve currency)
4) France: 2,435.4 tonnes
3) Italy: 2,451.8 tonnes
2) Germany: 3,395.5 tonnes
1) United States: 8,133.5 tonnes (Down from 20,663 tonnes in 1952)
Gold just seems to go up and up. This year the one year high broke $1,700. It wasn’t that long ago that detractors were saying it could never break $1,000. Meanwhile, the plummeting dollar has reached all time lows. And Bernanke would have you believe these things are unrelated. But it’s interesting, isn’t it? The thing the central banks of the world are hording keeps going up and up, and the thing the central banks are producing keeps going down. Could it be that it’s actually in the central banks self interest to destroy the currencies of the world? That would certainly make their reserves more valuable.
Gold remains the best way to protect ourselves from collapsing world currencies, especially since Bernanke obstinately insists he can print us back into economic prosperity. I don’t believe it. I seriously don’t think he truly believes it. And you shouldn’t believe it either. Every time he flips on the printing presses, gold spikes. Believe that.
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