The Polish central bank has bought roughly 300 tonnes of gold in recent years to bring its gold to GDP ratio in line with the average in the eurozone. For medium and large economies in the eurozone, to which Poland might be included in the future, an equal monetary gold to GDP ratio is a covert requirement for nations to be prepared for a shift to a new gold standard. Based on these requirements I expect Poland to buy an additional 130 tonnes of gold.
Where does that leave the U.K. .. almost no gold reserves vs GDP .. and no longer in EU . Could this line the U.K. up as the epicentre of the coming monetary collapse ?
I’d love to see that .. but as someone based in the U.K. I would find this highly unlikely from our Government who does seem intent on behaving as if we still have an Empire and a no.1 reserve currency to boot .. many here felt the Brexit “surprise “ vote in 2016 was far from a surprise ( ie planned and encouraged by Cameron and the Remain faction and was part of a larger plan perhaps to force us back into the EU and this time the Euro ( having a huge debt/gdp , almost zero gold and a very shaky Bond market ( almost went down Sept 22) would all play into that hypothesis. Very interestingly I was shocked yesterday that our Royal Mint is launching .1 oz and .25oz legal tender silver coins for the 1st time .. why the need for these very low denomination coins resplendent with King Charles head .. this used to be the territory of the Armageddon small-coins-for -barter preppers not our Government 🤔
Regarding the new silver coins , silver would have to move some in price to make it a good savings investment after you pay the 20% VAT sales tax and the approx 40-50% premium over spot !
Ps : love you work .. have been a follower for years.. thanks !
All jolly well, but you are referring only to the tip of the iceberg. From astute observers, circumstancial evidence implies that China may have, in toto, and hidden in various government institutions, not the least in Defence related ones, around 30.000t plus another 20.000t held by the public. Add to this the 12.000t held by Russia in a similar manner and then compare this to the putative UNAUDITED 8.000t held by the Americans, which may well, and certainly have more than one owner. So who will be the ultimate beneficiaries of a coming revaluation? The collective West's last futile attempt in piddling quantities to postpone the impending collapse of Bretton Woods resulting from the inescapable strangulation of the debt trap, or the nations which play the long game, chess and Go?
The problem with poker, is that eventually someone will call your bluff. So it goes...
Where does that leave the U.K. .. almost no gold reserves vs GDP .. and no longer in EU . Could this line the U.K. up as the epicentre of the coming monetary collapse ?
Yeah they have too little. But who knows, they can buy, hmm
I’d love to see that .. but as someone based in the U.K. I would find this highly unlikely from our Government who does seem intent on behaving as if we still have an Empire and a no.1 reserve currency to boot .. many here felt the Brexit “surprise “ vote in 2016 was far from a surprise ( ie planned and encouraged by Cameron and the Remain faction and was part of a larger plan perhaps to force us back into the EU and this time the Euro ( having a huge debt/gdp , almost zero gold and a very shaky Bond market ( almost went down Sept 22) would all play into that hypothesis. Very interestingly I was shocked yesterday that our Royal Mint is launching .1 oz and .25oz legal tender silver coins for the 1st time .. why the need for these very low denomination coins resplendent with King Charles head .. this used to be the territory of the Armageddon small-coins-for -barter preppers not our Government 🤔
The silver and gold coins produced by he Royal Mint are legal tender in the UK https://www.google.com/search?q=UK+silver+coins+legal+tender&oq=UK+silver+coins+legal+tender&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgWGB7SAQg0ODEwajBqN6gCALACAA&sourceid=chrome&ie=UTF-8 so the government makes these for you to save in because there is no capital gains tax on them https://www.physicalgold.com/insights/tax-implications-of-gold-and-silver-for-investors/#:~:text=All%20coins%20produced%20by%20the,on%20any%20of%20these%20coins. Be happy.
It will be a stretch for the UK to replenish its official gold reserves, but we thought the same of Poland in 2016, and then it happened.
Indeed !
Regarding the new silver coins , silver would have to move some in price to make it a good savings investment after you pay the 20% VAT sales tax and the approx 40-50% premium over spot !
Ps : love you work .. have been a follower for years.. thanks !
I would never pay that much premium on precious metals. If its high better buy bars or wait IMO.
Don't worry. King Chuck is on the case, I am sure.
All jolly well, but you are referring only to the tip of the iceberg. From astute observers, circumstancial evidence implies that China may have, in toto, and hidden in various government institutions, not the least in Defence related ones, around 30.000t plus another 20.000t held by the public. Add to this the 12.000t held by Russia in a similar manner and then compare this to the putative UNAUDITED 8.000t held by the Americans, which may well, and certainly have more than one owner. So who will be the ultimate beneficiaries of a coming revaluation? The collective West's last futile attempt in piddling quantities to postpone the impending collapse of Bretton Woods resulting from the inescapable strangulation of the debt trap, or the nations which play the long game, chess and Go?
The problem with poker, is that eventually someone will call your bluff. So it goes...