If the value of the US dollar goes belly-up, gold would be a lifeline, and China and Russia understand this. If central banks prove that gold is not just a viable alternative to the US dollar, but a favorable one, what can one do to safeguard oneself against either outcome? It is one of only four companies in Panama that offer safe deposit boxes, and Fort Kobbe provides additional services that no other company in Panama can offer — all aimed at the discerning investor. Contact Fort Kobbe Vaults now for advice on how to secure your gold, silver, assets — and your future.
Subscribe for the latest news and opinons about Gold, Silver, offshore vaulting and other industry information and opinion delivered right to your email inbox. Linkedin Facebook Twitter Instagram. August 27, by Mike Brown. It generates no cash flow and serves no practical purpose. Warren Buffett has pointed out that we dig it out of one hole in the ground only to stick it in another, and anyone watching this from Mars would be very confused.
Money is just an accounting device, a way of keeping track of how much each of us produces and consumes. Gold is a shiny and somewhat tacky looking metal that is malleable, durable and heavy. The big story of our era is not that the Spanish government is broke, nor is it that Paul Ryan apparently feels the need to embellish his running record. As was first reported here in April of last year, according to International Monetary Fund calculations, the U.
We will soon be the first people in two hundred years to live in a world not dominated by either Pax Americana or Pax Britannica. This sort of changing of the guard has never been peaceful. The declines of the Spanish, French and British empires were all accompanied by conflict. Maybe this will turn out better than similar episodes in the past. Maybe the Chinese will embrace an open society and the rule of law.
If you believe that, there is probably no reason to hold any gold. US Markets Loading H M S In the news. Will Martin. Russia has ramped up its gold buying, adding 26 tonnes to its reserves in July, according to International Monetary Fund data. As Russia buys gold, it continues to sell US Treasurys, in response to sanctions first placed against the state in Sign up for notifications from Insider!
Stay up to date with what you want to know. Between and , Germany repatriated most of its massive reserve from Paris and New York to Frankfurt. The Netherlands did likewise in , followed by Austria. Then came Eastern Europe. In , Hungary announced it would repatriate nearly 3 tons of gold from London, while greatly boosting its reserves.
Poland repatriated tons from London a year later, about half of its national reserve. Next was Romania , while Slovakia and Serbia have been considering moving gold home from England too. This dash to gold is about geopolitics and economics. Gold serves as a patch mark of nationalist identity. Stocking up has made sense to many countries in the populist climate. It is also a sign of countries diversifying from dollars. The likes of Russia, China and even countries in Western Europe want to break the US dominance of the financial system, having seen it used as leverage in everything from economic sanctions to trade threats.
Following the last financial crisis, many also feared there was more to come.
0コメント