Scott Bessent Confirms Fort Knox Gold, StoneX: US Inflows Exceed 2,000 tons in 2 Months
Watch the video of Secretary Scott Bessent addressing speculation surrounding the nation’s gold reserves, firmly stating, “All the gold is there.”
Central Banks
As BRICS Embraces Gold, Should the US Consider a Gold-Backed Dollar?
Adopting a gold-backed dollar isn’t just about returning to traditional monetary practices; it’s about adapting to the world becoming increasingly multipolar.
2024 Central Bank Gold Purchases: Poland’s Record-Breaking Year and Global Trends
The central bank gold buying spree has been propelled by economic uncertainties, inflation concerns, and a growing interest in reducing dollars held in foreign reserves.
Florida Considering Legislation to Recognize Gold and Silver as Currency
Florida’s exploration of gold and silver as currency aligns with a return to sound money principles.
BRICS Demand Driving Gold Prices and Dumping US Treasuries
In 2024, China alone offloaded $53.3 billion worth of US Treasury bonds while accumulating substantial amounts of gold.
Gold Replacing the Dollar as Reserve Currency for BRICS Members
Central banks across the Global South have been actively bolstering their gold reserves in anticipation of this transition. China, a major player in this shift, has been consistently purchasing gold for 18 consecutive months, with a staggering $53.3 billion worth of U.S. Treasuries being sold off since the beginning of the year.
Fed Report Admits that Gold is Displacing the Dollar in Central Bank Reserves
Earlier this week the Federal Reserve released a report that showed at least 37.5% of foreign central banks are moving away from the dollar as their main reserve currency in favor of gold.
Why did RBI Repatriate 100 tons of Gold?
Economist and a member of the Economic Advisory Council to the Prime Minister of India, Sanjeev Sanyal, said on Friday that India will now hold most of its gold in its vaults. Citing the decline in confidence in dollar assets among central banks as one of the prime reasons
House of Representatives Passes Bill to Block CBDC
The House of Representatives voted to pass the CBDC Anti-Surveillance State Act by a margin of 216 to 192, with 213 Republicans voting in favor. Three Democrats voted for the bill, while 192 Democrats opposed it.
Zimbabwe Launches Gold Backed Currency to Replace Dollar
To help battle the latest round of inflation, the Central Bankers and politicians are turning to the oldest form of money known to civilization. This week, Zimbabwe launched a new “structured currency” backed in part by gold.