Serbia buys nine tons of gold, after Hungary and Poland adds to their gold reserves

Roswell Crash Survivor

Roswell Crash Survivor

Well-Known Member
Silver Stacker
"Do as I say, not as I do."
Central banks cutting interest rates, restarting QE. They want you to keep spending and consuming, especially financial products i.e. debt. Then, they buy massive amounts of gold bullion and store it underground.
Major L
 
Roswell Crash Survivor said:
http://www.bloomberg.com/news/artic...ons-of-gold-to-heed-president-s-crisis-advice

From Bloomberg Copy:
"Serbia’s central bank bought nine tons of gold in October, raising its reserves of the precious metal on the advice of President Aleksandar Vucic. The biggest former Yugoslav republic is following Hungary and Poland, where officials boosted gold reserves in 2018 to create a bulwark against crisis."
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We have to follow this example on Silver Stackers-buy gold and silver- something goooooing on in the world-be prepared!
 
mmm....shiney! said:
Hedging currencies in the deliberate race to the bottom.
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Hedging currency and race to the bottom are mutually exclusive.
It does raise some questions about fiat portfolio holdings, which has been discussed in a thread called 'Gold hedge' in the gold forums recently. USD is probably still the best horse in the glue factory.
 
I think the theory that SDR from IMF attached to gold reserves has some merit.
 
JulieW said:
I think the theory that SDR from IMF attached to gold reserves has some merit.
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I didn’t think they proposed that. I know they talked about a basket of currencies. Which spreads the risk some what but doesn’t really change anything.
 
SuprmeLeadr said:
Hedging currency and race to the bottom are mutually exclusive.
It does raise some questions about fiat portfolio holdings, which has been discussed in a thread called 'Gold hedge' in the gold forums recently. USD is probably still the best horse in the glue factory.
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For how much longer?
 
openeyes said:
Perhaps I have misunderstood the context. My understanding aligns with this reference.

https://en.m.wikipedia.org/wiki/Special_drawing_rights

Are you referring to something else?
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I think we're talking about the same thing.

Rickards says that last time governments bailed out the banks and this time it will be the IMF because the governments are all broke. The SDR is in place and Rickards says that the basket of currencies will be expanded further. (remember a couple of years ago a big ticket item that China had been included in the basket of currencies?).

This time Rickards says that gold will enter the equation on the basis of gold holdings by the countries concerned. The SDRs will then become the tickets of international trade and payment, and this will be the seeding then of the movement toward an international currency, or perhaps a collection of simplified currency options (America Dollar, Europe Euro, Asia Yuan/etc).

This will mean that the USD is no longer the world's "Reserve", but it will be tied to the SDR through the gold holdings at Fort Knox (!). The large China holdings are going to place China close to the head of the table and hence their wealth will be preserved, being tied to an SDR/Gold equivalence. His theory seems reasonable to me and accommodates all the strange gold movements that have been going on since 2012 or thereabouts. I get the impression that once all the pins are lined up there will be a great 'event' that will allow the IMF/BIS to reset the system.

From there it will be a bit like a debt jubilee, allowing central banks to reshuffle everything and gradually open up the new box of tricks they've been preparing since they almost blew it all up in 2008.

Good reason to keep buying gold in my view. If gold enters the financial picture again as a primary element then having gold to trade for the new version of currency will be an advantage.

This is my own blurry memory of Rickards' theories so if it stirs any interest he's worth a listen to. Lots of stuff on YouTube.
 
Rickards is wrong if that’s the case.

Governments of sovereign nations can’t go broke.

Germany can. Italy can. Spain can. Serbia can’t. Unless it chooses too. Which is why I don’t understand why it’s buying gold. The only reason I can think of is that the Serbian central bank doesn’t understand either or it’s buy gold as a currency hedge when it gets accepted into the EU.

And yes, it could be that central banks have been mapping out a great event - but you can bet your entire gold stack on it that the event won’t accommodate any gold backed currency.
 
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No, not any sort of a gold backed currency down here at peasant level Shiney. We'll be lucky to have a secure crypto of some sort, or some "mark of the beast" style credits card.

The gold "enabled" SDR is proposed as just a mechanism to get round a dead, dying, or greatly devalued USD.

I'd imagine that Serbia has the inside word on the SDR story and wants into the game.

As for the EU, Serbia's 2009 request to join will be finalised by 2023 and so they might go into the EU in 2025 according to Google. It's a long term gold buy plan in that scenario.

I think this century's 20s will be as volatile as the 1920s.
 
I would like to see how the Central European V4 countries (Poland, Hungary, Czech Rep., Slovakia) are going to get rid of US Treasuries and Bonds.
Many of them hold vast amounts US dollars (as foreign currency reserves). They'd have to so something with that huge amount.

10-20-30 tonnes of gold is "peanuts". It's like anyone buying 1 gram and expecting a "wonder" if "it" hits the fan.

Really: what are they going to do with so many dollars?

I'm curious, because China, Russia and countless other countries are phasing the dollar out...
 
JulieW said:
I think this century's 20s will be as volatile as the 1920s.
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Or, they'll be another set of "roaring twenties":
- entertainment-madness (overdone movies and music that doesn't sound like music)
- social media craze (it's like the bar & restaurant frenzy back in the 1920's, just that it takes place online now...)
- money-wasting, money-printing... (buy, buy, buy: Amazon.com, shopping malls, Dubai, expensive vacations, Quantitative Easing etc.)
- propagation of fashion-driven pseudo values: iPhone (iconic) etc.
- snobism (if people have no serious preoccupation, they turn to snobism)
- new wave of mad-feminism (it's happening, just like back then in the 1920's)

Look around and notice what people around you are doing.

They're all spinnin'...

The "Russian roulette" of the global economy is also spinnin'...

...it'll probably stop somewhere around... collapse/crisis/decline...
 
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