Skip to comments.10 Countries Sitting On Gigantic Piles Of Gold
Posted on 10/08/2012 6:47:47 AM PDT by blam
10 Countries Sitting On Gigantic Piles Of Gold
Oct. 8, 2012, 6:44 AM
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 ...
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!
Dang! Now I've got to re-weigh all my gold...I may have been off by 240 lbs...