Central banks around the world added 425.4 metric tons of gold to their reserves last year, the biggest increase since 1964, according to the World Gold Council.
That represents a 1.4 percent gain to put their holdings at 30,116.9 tons in total. The increase was the first since 1988.
Central banks in India, Russia and China were among those boosting their gold reserves last year, as the precious metal jumped 24 percent, hitting a record of $1,226 an ounce in December.
Central banks now possess 18 percent of all gold ever mined.
“There’s clearly been a renaissance of gold in central bankers’ minds,” Nick Moore, an analyst at Royal Bank of Scotland, told Bloomberg.
“It’s not just been central banks taking on gold, but a general shift for physical gold in the investment sector.”
Many are now singing gold’s praises, with the precious metal up about 3 percent so far this year.
“Gold is quietly, at the edge, becoming the world’s second reservable currency, supplanting the euro and rivaling the dollar,” money manager Dennis Gartman wrote in his Gartman Letter, obtained by Bloomberg.
“The trend shall continue months, if not years, into the future.”
David Skarica, editor of The Gold Stock Adviser, tells Moneynews.com that central banks will continue to buy gold.
“The next lot sold by the IMF (International Monetary Fund) will go to China’s central bank,” he said. “The IMF has a supply overhang.”
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I hope it is finally becoming clear to everyone. This great site has long urged us all to BUY GOLD. If you haven't yet gotten your stash, please do what you can to get some. You cannot go wrong, and you will NOT lose. Good luck to all of you!
ReplyDeleteThe price of gold is now just high enough to keep the middle class from amassing anything other than a couple of ounces. Clever of the bankers to bash gold to the citizens while buying.
ReplyDeleteOne stupid question, how much of this gold is actual gold. I mean, the Chinese complained that the US gold is stuffed with Tungsten. The same applies to the Germans about the gold they purchased from the Bank of England.
ReplyDeleteYes buy gold. This will be the last bull market in gold for the next 100 years. After Gold runs up the NWO will institute a cashless society. Those buying gold at the top will be out in the cold.
ReplyDeleteYou heard it here first.
What would have to happen before a cashless society was initiated? A one world currency. What would the value of that currency be based on? Other than gold, I can't think of anything. So while gold is running up I will be selling and purchasing hard goods. In the meantime there's a whole lot less risk to gold than there is to cash or to stocks.
ReplyDeleteGovernment would LOVE a cashless society. Absolutely nothing, except barter, could escape taxation.
ReplyDeleteMaybe. Their cubarts may be bare.http://www.zerohedge.com/article/eric-sprott-not-optimistic Might want to have a listen.
ReplyDeleteGold is neat
ReplyDeleteGold is fine
with Gold you can make
Golden Wine
Drink it up
Drink it down
with Golden lips
you'll wear no frown
Gold has never been worth nothing
ReplyDeleteIt never will be either
That's more than I can say for just about every other " store of value"
MSNBC and the Pentagon just said the US economy is getting better.
ReplyDeleteI just heard that the new unemployment rate is going to be 2.5% in February so nobody should be complaining for benefits cut off any more...
The DOW is almost 11,000 so I believe good times are around the corner (As ignorant as I am).
Hey I got a Job in the US Government making bookoo bucks so what do I care about this web site and seeds ?
You guys are paranoid with this food stock up stuff.. As far as I am concerned we're headed for a bull(sh*t) market..
Those who have lost their homes are just lazy and just don't want to lood for a Job. There are plenty of Jobs out there.
Even transexuals and gays can find a Job in the Obama administration. The even more perverse than that can get an even higher salary than that...
It's paradise in this perverted land so why the gloom ?
The principle reserve currency of the Central Banks are the military personnel who invade, sieze, kill, interogate, smuggle, and spy on the command of the Central Banksters. This principle asset subordinates and controls all other assets, including production, shipment, storage. Consider the history of gold/coal/diamond mines, oil fields, banana plantations. Power comes from the barrel of the rifle.
ReplyDeleteOh Bullshit !
ReplyDeleteThey own 18% Coal is even less and until the huge
Opec Oil was the same. cannot speak about bananas
and who gives a shit about diamonds; they might get you laid periodically; other than that they are a scam.
The private sector continues to control by far the biggest proportion of precious metals; followed by industry & the vast majority of coal reserves lies beneth private lands ( as well as timber I might add )
And if true power comes from the barrel of a rifle - well I'd say we have that covered - wouldn't you ?
Everybody on this blog acts as though there are no people left on this planet who cannot think for themselves and are eminitly beholden to these
banksters.
I've got news for you - there are not a few self made; original thinkers left in this world who still make things, don't need banks to operate and have their own guns ( lots of them )
5 20
ReplyDeletewhats your point
the man was just making an observation
if you cant see that
im sorry for your family
buy gold
inflation is coming
and yes america makes nothing
and is bankrupt
so get off your high horse
and grab an orr because the ship is going down
everyone knows
except the idiot who says we have it covered
we are slowly going to war against the whole world
and even hitler new that it will end badly
spain france germany rome did not see at there hieght of power
the party was over
the roads suck our leaders are fools
and our president are feeble minded trowls
that have destroyed america and the world with
greed and taxes
i dont care how much guns you have
you have and will loose
for you have lost the people
and the people see you as there enemy
If the elites wanted to bring about a cash-less society now would be the time when we are already relatively close to it with all of our electronic transactions. They dont want to wait until AFTER the collapse of society to do so because all of that will be dashed away. The global economy is going backwards, NOT FORWARD. Therefore there will be no cashless society. Mark my words.
ReplyDelete8:39, 5:20 -- Funny to see you guys argue the same or similar points. 8:39 talks as if 5:20 is unaware of any of these issues and in rambling off your advice you kind of prove 5:20's point about not thinking for yourself. Just an observation.
ReplyDeleteAll the kings horses and all the kings men can’t put the debts back in the box
ReplyDeleteOr replace all the tungsten and paper held in Fort Knox
Can anybody comprehend a paragraph or 2 ?
ReplyDeleteThis turkey at 4:59 is trying to tell me that the central banks are in control of the armies which are in turn used to totally control the production, shipment and storage of aforementioned valuable commodities.
He forgets ( as rebuttal states ) who ACTUALLY OWNS the bulk of these - it's individuals and small business. Oil; until recently was the same.
Where the hell does he think Titusville, Pa. is?
In saudi arabi ? It was discovered; engineered; utilized HERE in the good ole USA First !
Guess who owned it ??? The first 10 HUGE production wells were ALL on private property folks.
These people just shoot their mouth off & throw in a few ambiguios words and think it'll just fly on it's own.
The statement is simply inaccurate - same is true of the "power comes from a gun barrel" statement - who the hell does he think owns all the guns and ammo in this world - hell man; do some research - you cannot even own a friggin' gun in Japan, most of E.U. China etc. etc.
Which is scarier to a would be threat - a US army
of 1.5 million with M-16's or a civilian population of 300 Million with AR-15's ( civilian version of m-16 - same weapon without full auto capability)
The whole statement in my view is just what the bull left at the fair ( shit )