24/7 put together a convenient list of the world’s top nation-state gold holders, and what it represents is nation-by-nation list of how the world’s central bankers control the world’s gold, although the publication did not mention this. The report highlights how the International Monetary Fund is the official third-largest holder of gold with 2,814 tonnes. The European Central Bank comes in right behind India with 502.1 tonnes and 32.4% of its foreign reserves held in gold. Central banks, not nations, are buying gold in nations as diverse as Russia, Turkey, Ukraine and the Kyrgyz Republic.
The real conclusion that must be internalized is that, while buying precious metals and other tangible assets can be an excellent way of exiting the fiat currency paradigm, we mustn’t forget that central bankers own the world’s gold. They have been in a position to accumulate for centuries, and through conniving and contrivance have ensured that their stashes are the biggest on the planet.
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