Russia is not alone among central banks in building up its gold reserves. Here are the major central bank additions to gold reserves in 2021:
Belarus: 2.80 metric tonnes
Brazil: 62.3 metric tonnes
Cambodia: 5.00 metric tonnes
Hungary: 63.0 metric tonnes
India: 71.0 metric tonnes
Ireland: 2.00 metric tonnes
Japan: 80.8 metric tonnes
Kazakhstan: 15.0 metric tonnes
Mongolia: 5.70 metric tonnes
Poland: 3.10 metric tonnes
Singapore: 26.3 metric tonnes
Thailand: 90.2 metric tonnes
Uzbekistan: 42.6 metric tonnes
Physical possession of gold. Lets be our own central bank and stack our butts off in 2022.
I heard as a brief comment In a video I watched that the federal reserve counts its gold as if it was worth $30-40 per ounce on its books.
That if they counted it at today's price their books wouldn't look so bad. That they don't want it known that they actually have a fucktonne of wealth in gold. To keep awareness down.
Why do you guys think they count their gold as being worth way less than it is worth on their books.
Smaller countries central banks buying gold to protect themselves from the IMF and other international banking cabals. They see what’s coming are are protecting against it by buying gold.
The gold standard ended almost a century ago and the link between the US dollar and physical gold was completely severed in 1971, yet our government still holds massive reserves. Does gold fulfill such an important financial role that our government would be interested in hoarding a massive stockpile? Why haven't they just sold it off?
To date, the country has bought Bitcoins several times:
On 07-Sep-2021: 400 BTC for $21M
On 08-Sep-2021: 150 BTC for $7M
On 20-Sep-2021: 150 BTC for $6.4M
Total so far: 700 BTC for $34.4M
At the current price of $61,389; these 700 BTC is now worth $43M. That means El Salvador has gained $8.6M on the dip.
To understand how big is $43M in El Salvador’s context:
El Salvador’s total remittance is $583.85M. Compared to the value of holdings, it represents 7.4% of total remittance.
El Salvador’s reserve is $3.292B. So, the total Bitcoin holding is 1.3% of the total reserve.
El Salvador’s gold reserve is $83M. So the current value of Bitcoin holding is 51.8%, just over half of the country’s gold reserve.
And how big is the dip gain ($8.6M)? If this amount is distributed to every person in El Salvador, everyone will be better off by $1.25.
Again, how big is $1.25 in El Salvador? It is almost the minimum wage for commerce, service, industrial, and agroindustrial sectors ($1.50 an hour, $12.00 per day)
Figures are taken from the World Bank data and Trading Economics.
In detail? Like what purpose does the gold serve?
Venezuela always kept their gold in U.K. vaults. When Maduro claimed it the U.K. at request of the U.S. said not so fast. It is being ruled on now and Supreme Court said Guaido is president and not Maduro. Right or wrong if you don't have possession you don't own it. Period...... Lets goooooo
They don’t talk about it in the media (that’s normal) the only sentences I have heard about the subject growing up are: “Spain took all our gold” “Puerto Rico had gold on its surface once” “Natives traded it for pencils” ( I highly doubt this insult) So do any of you know anything?
https://www.gold.org/goldhub/data/monthly-central-bank-statistics
Other countries, which are certainly waaaay poorer:
Guatemala 2.09% of its reserves in gold
Yemen 1.83%
Bangladesh 1.7%
Nigeria 3.2%
Albania 3.4%
Haiti 4.33%
Sri Lanka 7.88%
Egypt 11.58%
Cambodia 14.13%
Afghanistan 14.7%
Mongolia 15.75%
But Singapore is not alone on a list of the most rich countries who neglect gold (and of course silver). Certain countries mysteriously just prefer not to hold gold... being rich as hell:
- South Korea 1.3%
- Oman, Canada, Norway 0%
- Japan 3.5%
- Saudi Arabia 3.95%
- Taiwan 4.23%
- Switzerland only 5.43% -- why not 25% or 75% like Germany ???
- UK 10.5%
- Kuwait 8.98%
Together these countries hold 4 trillion USD in Fx reserves. If they would like to switch to 4,000 tons gold over 4 year period with that much fiat, market price would have to be 1 billion USD per tonne.
Currently its just 57k
Something does not compute, but im no rocket surgeon, and I havent done any real digging yet. The US debt clock website has a gold/precious metals tab that tracks gold holdings by country, as well as metals productuon and reserves. The ratio of gold to silver production is 1:7.5. The ratio of reserves is 1:11.5. Why is there more silver stored than comes out of the ground, especially if its annual production is being used up by industry? Who holds these silver reserves and where are they stored?
Gold needs to be disappearing from the market and "reserves" faster than silver. OR the silver is being reserved at a higher rate than gold from an unknown source. Is there another explanantion or am i missing the whole picture (most likely)?
Hi everyone. Here are some very nice problem-free notes for the beginner/intermediate collector of U.S. paper money. Enjoy!
As usual, I am posting this very late, and will respond to messages in the order they were received by 10:00 AM Pacific Time
Fr. 988: 1914 $20 Federal Reserve Note, Chicago - Very Fine/Extremely Fine. Bold inking and crisp paper with only a few lighter folds on this “transportation note.” Much nicer than most! $175
Fr. 1187: 1922 $20 Gold Certificate - Fine. Well circulated but completely intact. No tears or pinholes. This popular design is getting hard to find without major problems for less than $200. $195
Fr. 2402: 1928 $20 Gold Certificate - Fine/Very Fine. Like the other gold certificate above, but this one has a little more life in the paper. No pinholes or tears. $135
Fr. 2062-K: Ten consecutive 1950 C $20 Federal Reserve Notes, Dallas - PMG graded Choice/Gem Uncirculated. These notes come from the tougher to find Dallas district, and have been together their entire lives. Someone spent $300-$500 on PMG's grading fees alone on these. $595 O.B.O.
Payment, Shipping, Etc.
PMs and chats welcome!
Payment: Now accepting Zelle (preferred), Venmo, Cashapp, and Paypal! I am happy to consider trades.
Shipping: Always $4 for USPS First Class w/ tracking anywhere in the United States. I can bundle lots together! Large priority bubble mailer or small flat-rate box is $8. Additional options such as insurance may be available at a cost. Packages go out the next business day.
I pack extremely safely and discretely. I trust USPS and have never lost a package with them, but once it is in their hands, it is out of mine. However, I have no problem bending over backwards if there is some weird hang-up with the shipping process. Lastly, if buying through the mail is exceedingly nerve-racking to you, then I would suggest shopping at your local coin shop instead if possible.
Lastly, I post feedback for everyone who buys from me. I highly appreciate feedback in return.
I found this video very informative and definitely shows a positive long term outlook. Video mainly about gold (higher gold price higher silver price) with silver only mentioned a few times.
Hi Reddit!
First time posting after a long observing period. I recently started an adult job at the age of early 30 (I have been in school most of my 20s)- and I want to get the best out of a credit card use and a credit card for upcoming travel needs for the next few years.
About me: Early 30s, income is on the lower side for where I live - $75K in NYC, but I manage to pay off one credit card that I have (it’s a standard cashback card) and don’t have debt.
I live in the US. For job, I don’t necessarily have to travel, but I want to make a card that I can maximize travel bennies personally. I want to travel more in the future to visit family & friends in Asia - so a long haul 1-2x a year, plus maybe 5x domestic (air) travel.
A lot of the perks both Amex and Chase offer seems attractive tbh, especially a NYC resident like me who dine out pretty often (1-2x a week, sometimes more). Any recommendations on the best card? Much appreciated.
https://www.bullionstar.com/blogs/ronan-manly/irish-central-bank-raises-gold-reserves-by-33-worried-by-inflation/
