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10 Countries Sitting On Gigantic Piles Of Gold
TBI ^ | 10-8-2012 | Mamta Badkar

Posted on 10/08/2012 6:47:47 AM PDT by blam

10 Countries Sitting On Gigantic Piles Of Gold

Mamta Badkar
Oct. 8, 2012, 6:44 AM

AP Images

Gold prices have been supported by central bank gold purchases.

According to the World Gold Council (WGC), global central banks bought 157.5 tonnes of gold in the second quarter, up 63 percent quarter-over-quarter and up 137.9 percent year-over-year.

In fact, there is a school of thought that suggests euro zone members use gold as collateral for sovereign debt issuance to keep bond yields.

We put together a list of the countries with the biggest official gold holdings as reported by the WGC last week. We also included the percent of their foreign reserves they have in gold.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: centralbanks; economy; gold; reserves
10 countries sitting on giganic piles of gold: (tonnes)

1. USA - 8,134
2. Germany - 3396
3. Italy - 2452
4. France - 2435
5. China - 1054
6. Switzerland - 1040
7. Russia - 937
8. Japan - 765
9. Netherlands - 612
10. India - 558

1 posted on 10/08/2012 6:47:57 AM PDT by blam
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To: blam

I have found this website to be a very useful source of information on the economy, gold, and silver.

http://goldismoney.info/forums/


2 posted on 10/08/2012 6:49:17 AM PDT by Silver Sabre
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To: blam

I don’t believe that the USA figure is factual. Why would I believe it? We just make stuff up.


3 posted on 10/08/2012 6:49:49 AM PDT by ClearCase_guy (ua)
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To: blam

4 posted on 10/08/2012 6:49:52 AM PDT by blam
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To: blam
What are they going to do with all that tungsten?

/johnny

5 posted on 10/08/2012 6:49:54 AM PDT by JRandomFreeper (Gone Galt)
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To: blam

The rise of the price of Gold is INEVITABLE IMHO.

With Europe EASING and the Fed doing QE3 (with no end in sight), currency debasement is all but assured.


6 posted on 10/08/2012 6:49:54 AM PDT by SeekAndFind (bOTRT)
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To: blam
Just a POI:

Ton vs. tonne

In American English, a ton is a unit of measurement equaling 2,000 pounds.
In non-U.S. measurements, a ton equals 2,240 pounds.
A tonne, also known as a metric ton, is a unit of mass equaling 1,000 kilograms.


Carry on...;)
7 posted on 10/08/2012 6:51:55 AM PDT by Tainan (Cogito, ergo conservatus sum)
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To: All


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8 posted on 10/08/2012 6:52:37 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: blam

Ask Spain how accumulating vast amounts of gold worked out for them.


9 posted on 10/08/2012 7:00:57 AM PDT by SpaceBar
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To: blam

Or gigantic piles of tungsten... :)


10 posted on 10/08/2012 7:03:45 AM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: blam

The dollar will be “reset”, and it will be a gold-backed currency.

This is how they will screw everyone holding FRN denominated money out of their wealth.


11 posted on 10/08/2012 7:07:53 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: blam

I wonder how much of it is fake?


12 posted on 10/08/2012 7:13:05 AM PDT by Little Ray (AGAINST Obama in the General.)
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To: blam

On a per capita basis, the Swiss are far ahead, followed by the Netherlands.


13 posted on 10/08/2012 7:27:08 AM PDT by Ken H
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To: Ken H

It looks like Germany is actually #2 there.


14 posted on 10/08/2012 7:30:13 AM PDT by Ken H
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To: blam

Considering the size of their economies the figures for #2 through #6 are simply staggering. Like Texas or California owning similar amounts.


15 posted on 10/08/2012 7:35:31 AM PDT by Sequoyah101
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To: blam

All of that gold, from all 10 countries, just barely covers the US budget deficit for FY2011.


16 posted on 10/08/2012 7:42:04 AM PDT by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: Straight Vermonter

Perhaps that tells you that Gold is WAY undervalued.

To me all the deficit spending is just deferred taxation, usually through inflation.


17 posted on 10/08/2012 7:49:12 AM PDT by desertfreedom765
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To: ClearCase_guy

***I don’t believe that the USA figure is factual***

Back in the 1970s many people believed there was little or no gold in Ft Knox. After lots of roadblocks, the vaults were opened and the gold was there! Wonder how much of it was really gold plated tungsten.


18 posted on 10/08/2012 8:30:45 AM PDT by Ruy Dias de Bivar
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To: Tainan

Which is = to 2,200 lbs.


19 posted on 10/08/2012 8:33:39 AM PDT by mdmathis6 (We have grieved the Holy Spirit, with our Dark hearts and dark minds turned against God!)
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To: desertfreedom765
deferred taxation

Yep. The robbing of our posterity of their God-given, unalienable right to government by consent.

20 posted on 10/08/2012 8:35:54 AM PDT by EternalVigilance (The only wasted vote is one that doesn't represent you.)
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To: SpaceBar

Spain wasted there gold in bad wars and bad polices—didn’t invest it in anything save for beautiful churches and cathedrals. We should learn from this!


21 posted on 10/08/2012 8:49:26 AM PDT by Forward the Light Brigade (Into the Jaws of H*ll)
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To: Tainan
Ton vs. tonne"

Dang! Now I've got to re-weigh all my gold...I may have been off by 240 lbs...

22 posted on 10/08/2012 9:31:51 AM PDT by SuperLuminal (Where is another agitator for republicanism like Sam Adams when we need him?)
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