CHINESE GOLD RESERVES
Steer your path through life by our GOLDEN COMPASS the quest for eternal happiness
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
- 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
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.
The United States of America, with 8,133.5 tons of gold
DOES HAVING GOLD RESERVES IMPACT A COUNTRY?
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.
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