Gold continues it’s front and center advance into the world’s monetary system. The mainstream news media misses it, but one of the biggest financial stories of our time is the massive move of the world’s central banks to add gold to their reserve holdings.
Of course, the mainstream media is missing it. After all, it will only affect… EVERYTHING.
That’s because it represents a “de-dollarization” of the world economy, a trend that will make Americans poorer.
And now, as though to underscore the strange new respect the central banks are paying to gold, they are even holding international conferences on gold reserves.
That is the sort of thing that signals an acceleration of their gold-buying spree.
The Global Central Bank Gold Buying Spree of 2019
2019 has been a record-setter for central bank gold buying. In the first half of this year, the institutions added 374.1 metric tons to their holdings.
Currency wars, record debts and trillion-dollar deficits, negative interest rates and quantitative easing are some of the reasons behind the new gold awareness on the part of central banks.
They are among the reasons for you to buy gold as well.
It should surprise no one that the next international central bank gold reserve conference will be held in China. China is the world’s largest importer of gold. The 2019 Executive Program in Gold Reserve Management takes place in mid-October in Tsinghua University’s School of Finance in Beijing. Attendance is limited to “executives at central banks, sovereign wealth funds and finance ministries from around the world.”
As we wrote some time ago, “Central bank gold buying is a megatrend for a reason. The prognosis for the dollar is negative.”