Eastern And Western Central Banks Support Gold Price
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
Both western and eastern central banks are now fully supporting gold. Precious metals investors can, with total confidence, buy and hold physical gold, silver
Central banks’ total gold holdings went from a peak of 38,000 tonnes in the early 1960s to 30,000 tonnes in 2006. The sellers were almost exclusively western banks.
Central banks were selling into a falling
Up for discussion: The higher the debt, the higher gold goes; galloping debt cannot be financed; a total catastrophe of the currency system; western banks reducing gold holdings; next phase—gold buying, west and east; and banks continuing to block clients.