CHINESE GOLD RESERVES

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When food shortages and the energy crisis really begin to bite, only gold, silver and gemstones might be trusted apart from barter. In a secure future, banks who trade in real coin of the realm, are the only ones who will be trusted. For this reason precious metal coins make a comeback. John Storm is in favor of a more stable form of international currency, over paper promissory notes. He has suggested that gold is index linked to energy, food, timber and other essential commodities.

In days gone by they traded in real money based on solid gold and silver minted coins. Today, paper currency is based on worthless promises, made by governments (and the IMF) that are typically corrupt in some measure; political pirates, racking up staggering national debts, based on flawed policies. There are though some countries who are building up real wealth. Gold bullion reserves as ingots and bars, that will be worth something when the digital/paper system collapses. In the future, smarter individuals change their promissory notes for something more tangible. Taking control of their lives back from banks and corrupt politicians.

This move displeased Governments, who froze accounts and assets of many of those joining in the gold stampede, on realization of the political hidden agendas. Many paper money dissidents were arrested and interrogated by state police - by way of terror tactics.

So it is that when John Storm discovers a long lost hoard of treasure, a number of nations are keen to get their grubby mitts on it. Adding John to their hit list. To add to their dwindling stockpiles, even though they still issue unsupported paper notes for all those yet to wake up to the economic facts of life. These are estimates as at 2023.

14 MARCH 2023 - HIGHLIGHTS

- Gold prices lost momentum in February 2023. While the LBMA Gold Price AM in USD fell by 5%, the Shanghai Gold Price Benchmark PM (SHAUPM) in RMB saw only a 1% drop due to the RMB’s depreciation against the dollar.

- The Shanghai-London gold price premium continued to pick up, reflecting strong gold demand during the month .

- Gold withdrawals from the Shanghai Gold Exchange (SGE) totalled 169t last month, 30t higher m-o-m and 76t higher y-o-y.

- Chinese gold ETFs saw a mild outflow of US$45mn (RMB313mn), bringing their collective holdings to 47.4t (US$2.8bn, RMB$20bn).

- The People’s Bank of China (PBoC) reported a further gold purchase of 25t, taking its total gold reserves to 2,050t by the end of February. 

TOP TEN RESERVES IN 2021

6. CHINA @ 1,958.3 TONS OF GOLD

After 2009, China became secretive about the country’s gold activity. Since 2015, the People’s Bank of China has started to share its monthly gold purchasing projects. Although China is in the top 10 most extensive gold reserves list, only 3.3% of its foreign reserves of it account for gold.

However, in 2021, China opened the doors to national and international trade of gold in the country to support its economy. About 150 metric tons of gold was to be shipped to China in April or May 2022. 

China is also the world's biggest gold producer, accounting for 12% of global mine production according to investment manager US Global Investors. The local demand for gold has been boosted by the burgeoning wealth of its growing middle-class – and it's likely the numbers will be higher in GoldHub's next dataset, as China has reportedly been stepping up its gold imports from Russia. 

Although the quantities are still relatively small, China's receipt of 2.16 tonnes of Russian gold in October 2022 represents a seven-year high. Between January and October 2022, China imported 5.72 tonnes of gold from Russia in total, almost twice as much as the same period the year before. This was worth $330 million (£275m), 1.8 times more than China's January-October Russian imports in 2021. Making China a firm and undeniable ally of the Soviets, against Ukraine, in effect, underpinning Russian Empire expanding objectives; their war effort. When viewed in relation to gold transactions, it all become clear.

TOP TEN

1. The United States of America, with 8,133.5 tons of gold
2. Germany, with 3,362.4 tons of gold
3. Italy, with 2,451.8 tons of gold
4. France, with 2,436.2 tons of gold
5. Russia, with 2,298.5 tons of gold
6. China, with 1,958.3 tons of gold
7. Switzerland, with 1,040 tons of gold
8. Japan, with 765.2 tons of gold
9. India, with 686.8 tons of gold.
10. The Netherlands, with 612.4 tons of gold

HOW DOES HAVING GOLD RESERVES IMPACT A COUNTRY?

Any country that exports gold or has a huge gold reserve will inevitably experience a rise in its currency as the price of gold 
increases. This price rise of gold increases the trade or helps balance the trade deficit. It also leads to an increase in the country’s exports.

On the other side, if any country lacks gold in its reserves and is a massive importer of it, they have a weaker economy whenever the gold price increases.

In 2020, the top 10 countries traded more than one metric ton of gold, emphasizing just how important this metal is in the world economy.

According to the WGC (World Gold Council) data from April 2021, central banks bought about 273 tons of gold in 2020. International Monetary Fund is not a country; thus, it is not included in the list. However, if it were, it would be in the third position with 2,814 tons of gold in its safe.

The best known golden treasures are Doubloons, Guineas and Sovereigns. Other forms of transportable money are diamonds, rubies and emeralds. It's difficult to trade with old bars or ingots. Not so difficult to trade half sovereigns or silver pieces of eight.

The Cup of Christ is the Holy Grail, that has never been found, in all searches through the ages.

  CHINESE YUAN RENMINBI BANKS & BANKING BIGGEST INTERNATIONAL GOLD BULLION BARS RESERVES BY COUNTRY - A TO Z INDEX OF WEALTHY NATIONS TOP TEN

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