Thoughts on CBs and nations that are buying gold

Discussion in 'Gold' started by rbaggio, Mar 5, 2013.

  1. rbaggio

    rbaggio Active Member Silver Stacker

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    We hear about the Central Banks and nations that are buying gold;
    * Russia
    * China
    * Bangladesh
    * Thailand
    * Philippines

    These are all emerging/developing nations.

    What are people's thoughts on why these are the nations buying gold?

    * They are the only ones with any money to spend?
    * They see a crisis coming? And want to get out of USD? (Western nations don't want to rock the boat)
    * The countries that AREN'T buying gold (i.e. Western nations) see something ELSE coming?

    I just think it's an interesting observation.
     
    rbaggio, Mar 5, 2013
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  2. JulieW

    JulieW Well-Known Member Silver Stacker

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    In the coming reset, the figure I've seen floated is 15% of reserves, and the race by countries to stack up gold reserves, is in those countries who want to protect themselves when the current global currency fails at the next crash.

    This of course requires financial acumen and if possible a few gold mines inside your borders.

    p.s. I'd suggest that 15% would be the minimum you should put aside in gold for future 'corrections'. (and I lean toward those who say anything from 25-100% - but I'd have a different view if I was in my 20's and starting work of course)
     
    JulieW, Mar 5, 2013
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  3. KMGeneral

    KMGeneral Member

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    As someone who is in my (admittedly late) 20's I have most of my savings in either silver or gold. I have to save for the long term because lets face it, I'm probably never going to see a cent of my super.
     
    KMGeneral, Mar 5, 2013
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  4. CriticalSilver

    CriticalSilver New Member Silver Stacker

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    I think of it as they are seeking to preserve the gains they have made in their development.

    It is like cashing in a portion of your gambling chips while you are ahead, in case the House cleans you out before you can exit the casino. The USA (global financial power, US Federal Reserve System, US Dollar and US military, not its people) is the House, the global economy is the casino and the so called western nations (not their people) are the casino staff, fully dependent on the generosity of the House and are subservient to its instruction.

    The casino staff need to start looking out for them selves though, in case the casino goes bust or has to cut back on head-count. That's why it's important for Australia to start accumulating gold. There's a petition for that somewhere.
     
    CriticalSilver, Mar 5, 2013
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