China is the world's largest producer of the precious metal, but of late its central bank has been buying up large quantities. So what is it doing with it?
Not to mention the large amounts of other countries gold that we hold and decide to keep permanently whenever a country makes us upset. We’ve stolen so many countries reserves, after FORCING many of them to store their reserves in the US.
In August the Taliban seized control and the former government collapsed, leaving behind just over $7bn in central bank assets deposited in the US Federal Reserve bank in New York. As Afghanistan’s top officials, including the president and central bank governor, fled the country, the Fed froze the account as it was unclear who was legally authorised to access the funds.
Source on freezing foreign gold held in U.S. Reserve. I misspoke as to them seizing it, I haven’t been able to find anything to confirm that, I must have misremembered, sorry.
That makes more sense… they historically (culturally?) value jewelry over money due to the economic fluctuations that have occurred over time. Oftentimes they rely on precious metals for savings as it holds value better.
Add to the fact that there’s over a billion ppl it stands to reason they may have accumulated more gold than most countries.
But idk where fort Knox stands in comparison, so maybe USA has more gold even so.
And another thing, it also says China PRODUCES the most gold. Okay so they produce the most and hold what, less than 30% what the US Fed holds? Ridiculous headline and article. Seems as if they’ve had every opportunity to amass more or equal to the other leaders and are only just now increasing holdings over the past 9 months.
The article title says china is hoarding the worlds gold, yet the us owns the most by a very large margin…
Not to mention the large amounts of other countries gold that we hold and decide to keep permanently whenever a country makes us upset. We’ve stolen so many countries reserves, after FORCING many of them to store their reserves in the US.
Do you have sources for this?
Here’s a source on the U.S. holding large amounts of foreign gold. Yahoo Finance
Source on freezing foreign gold held in U.S. Reserve. I misspoke as to them seizing it, I haven’t been able to find anything to confirm that, I must have misremembered, sorry.
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That makes more sense… they historically (culturally?) value jewelry over money due to the economic fluctuations that have occurred over time. Oftentimes they rely on precious metals for savings as it holds value better.
Add to the fact that there’s over a billion ppl it stands to reason they may have accumulated more gold than most countries.
But idk where fort Knox stands in comparison, so maybe USA has more gold even so.
yeah but china bad
Yes. And…?
And another thing, it also says China PRODUCES the most gold. Okay so they produce the most and hold what, less than 30% what the US Fed holds? Ridiculous headline and article. Seems as if they’ve had every opportunity to amass more or equal to the other leaders and are only just now increasing holdings over the past 9 months.