Emerging markets are leading the gold-buying spree.
The holdings of gold in the foreign exchange reserves of the central banks have been growing worldwide, hitting a 31-year high this year. At the same time, US dollar holdings have been dropping.
According to the World Gold Council, the banks have built up their stockpile by more than 4,500 tons over the past decade. As of September, the reserves totaled some 36,000 tons – the largest haul since 1990, and up 15% from a decade earlier.
At the same time, the presence of the dollar in foreign exchange reserves has dropped sharply over the past decade. In 2020, the currency-by-currency ratio of the greenback plunged to the lowest level in a quarter of a century.
Analysts say that the central banks, particularly in emerging economies, are continuing their shift to gold, reflecting global concerns about the dollar-based monetary regime. In the first nine months of 2021, Thailand bought some 90 tons, India 70, and Brazil 60.
Central banks and public institutions started boosting holdings of gold after the global financial crisis of 2008, which caused an outflow of funds from US government bonds, resulting in falls in the value of dollar-denominated assets.
Trust in dollar assets thus “faltered,” market analyst Itsuo Toyoshima says, as quoted by Nikkei Asia.
Gold prices have remained firm, trading at the $1,806 level per troy ounce as of December 30.
Saturday, February 12, 2022
We Won — All Across the Board
By Anna Von Reitz
Spread the good news!
It has been a long, hard, nasty, inch-by-inch uphill struggle against the powers of darkness in the bowels of the banking world, but the World Snake is being forced to eat its tail instead of causing trouble for everyone else. I can take no particular credit for this, other than my actions locating and securing assets belonging to Americans — the glory of this victory (ironically) belongs to bankers, and especially our own banking team.
I would go further in extolling the virtue, knowledge, foresight, dedication, determination, courage, and valor of Our Guys, but at the present moment, they are not terribly popular in certain circles.
Rest assured these men and women will be lauded and rewarded for all the good they are accomplishing on a worldwide basis, and their names may only be remembered by friends and family, but their work will endure for generations— because it is all founded on the rock of love for our planet and love for our fellow man and love for our Creator.
197 million Troy ounces of American gold has been recovered, trillions in treaty gold has been assigned to the actual beneficiaries, and we are beginning the process of repatriating American gold, along with American credit, stocks, bonds, and silver.
We are also well on the way to the Grand Opening of our Bilateral Bank System.
Soon Americans will be able to open their accounts in our private International Trade Banks. Those Americans who have already “Signed In” will have relief from mortgage fraud and other ills, and billions more people worldwide stand to see the same relief coming to them.
It’s happening, and it’s happening because it was never legal or lawful to force Americans to accept legal tender without recourse.
There had to be remedy built in, and there was— otherwise, taking our lawful money (gold and silver) in exchange for paper currency issued against our own credit would be robbery under force and color of law.
So lift your heads and savor the good news. Take a little mental vacation and visit your own Happy Place. Remember the good and honest people of the Earth, working away, often without pay, without fanfare, without support — and the loyal Public Servants who have helped to turn the tide