The BoK declined to disclose the purchase price but said it had entrusted all of its gold holding to the Bank of England for possible use in gold lending and other related transactions in future." seeds of another war have been sown
re: discussions about Australia having a gold backed currency. Not possible unless we want to abandon any membership of the world bank/IMF. The system is rigged.
Oh I couldn't agree with you more Jonesy. I might have only a handful of posts on this forum but I've been buying and selling gold (mostly in the form of krugerrands) since 2003. Still dabble in gold coins but mostly silver these days. Signficantly more upside. Amazing though how few people really realise how the world financial system was set up in the favour of the US post WW2 with institutions such as the UN, World Bank and IMF for use and abuse. And the 1975 debacle of abandoning the gold standard......... how did they get away with it/!!!! Oh well, I'm just a mindless Pleb I guess.
that chart misses the holdings of the ETFs, the largest of which I recall is in the top three, a year ago or so
Everyone's getting in to the act. Even Kazakhstan's catching up to us. http://af.reuters.com/article/metalsNews/idAFL6E7J30EY20110803?sp=true
Hurray for Kazakhstan!! A moslem nation I believe. I wonder if they're obeying the fatwa of that Scot turned Muslim who decried paper money in favour of gold and silver. Indonesians have been using gold dinar and silver ..... (can't remember what the coin is called - alzheimer's setting in!) for about nine years. In fact, I think its Kalemantan (sp?) province that's started putting its official stamp on the coins. I'll bet gold reserves in Muslim countries have been quietly creeping up for a while. BTW, one gold dinar = 2 goats. One silver coin = one chicken. Apparently been that way since Muhammud was a lad - now that's STABILITY.