The mines in Egypt’s Eastern Desert represent an incredible source of income for the country. Gold from the El Sukari mine is already being used to grow the Central Bank of Egypt’s reserves which have recently been reported to have increased to 125 tons of gold.
Brazil’s international dollar currency reserves lost over $37.5 billion in from 2021 in 2022 due in large part to lower returns amid the US Federal Reserve’s rate hikes and dollar manipulation. While the country’s central bank reported gold holdings are valued at roughly $7.602 billion.
The BRICS alliance is planning a new currency that will be backed by gold and other commodities such as rare earth elements and fertile soil in an attempt to further dislodge the global hegemony of the dollar as the world’s reserve currency.
APMEX sold more than 1 million troy ounces of silver in the past 7 days, and 27,000 troy ounces of gold.
It is not a conspiracy theory that the central banks intend to use CBDC as a means of control. It was explicitly explained during their annual meeting in 2020.
The importance of having a stable, trusted and reliable store of value has never been more critical than it is today. Gold ownership is transferring some of your hard-earned fiat currency into a physical asset.
The global economy is shifting back towards some form of a gold standard while the Federal Reserve is piloting various CBDC projects, new legislation introduced in Congress to block the Fed from issuing individual accounts
Some see the rise in demand by central banks buying gold as a signal that countries that have been bullied by Western economic policies as being eager for an alternative system that will create a more equitable system and fairer monetary standard.
The Bretton Woods Accord led to the dollar emerging as a reserve currency.
Following World War II, the US had the largest gold reserves.
Bretton Woods provided fixed gold prices that was pegged to the USD making it the central spoke for trade.
Days after Nixon resigned in 1974, President Ford signed legislation reversing Roosevelt’s executive order banning private gold ownership.