Rates

Since the bottom of the market in 2009, $14 trillion have been printed by the Fed, ECB (European Central Bank) and the BOJ (Bank of Japan). Alfred has never considered that this substantial liquidity might have been the reason why the market is up 4x since 2009.

Bank of Italy’s Governor Ignazio Visco said on Monday the country’s reserves of gold belonged to the central bank and could not be used to fund government spending.

Romania may be set to join a wave of countries moving their gold home from vaults abroad after the nation’s de facto leader started a push to relocate 61 tons of the reserves, worth about $2.4 billion, from the U.K.

At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of President Nicolas Maduro’s desperation to raise hard currency amid tightening sanctions.

History’s biggest bear market in fiat money and bull market in eternal money or gold is about to start. You will ignore it at your peril.

Do not believe anyone telling you the European banking sector is healthy. None other than the European central bank, the ECB, is aware of the problem, having just confessed to it.

Once the Maginot Gold Line is broken, that creates the conditions for the Chinese Gold Line which means a panic to get hold of gold and permanent shortages. So the current complacency in the West that gold has lost its lustre and serves no purpose is extremely dangerous.

The Chinese government saw already 48 years ago that Nixon’s decision to end the gold backing of the dollar would be the end of the dollar and the Western monetary system. No one believed their prophecy at the time. But they are being proven right.

Italian Deputy Prime Minister Matteo Salvini said on Monday that the idea of plugging budget holes by using the country’s gold reserves, which are held by the Bank of Italy, could be a good idea.

China has joined a global central bank gold rush in the last two months by increasing its official gold reserves, even though the purchase remains modest compared to the volume of the mainland’s foreign exchange reserves, according to data released by the People’s Bank of China on Monday.