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10 Countries Hoarding Enormous Stockpiles Of Gold
TBI ^ | 1-16-2013 | Mamta Badkar

Posted on 01/16/2013 6:51:59 AM PST by blam

10 Countries Hoarding Enormous Stockpiles Of Gold

Mamta Badkar
January 16,2013

AP Photo/Newmont Mining

Germany is reportedly repatriating gold it has stashed with the New York Fed and the Bank of France, and some policymakers want to bring back all their gold in case the financial crisis worsens.

People continue to debate whether gold is or should be considered money.

However, this hasn't kept the world's central banks from increasing their gold reserves.

The World Gold Council estimates that central banks have purchased 500 tons of gold in 2012, up from 465 tons last year. Analysts attribute some of the support in gold prices to these central bank gold purchases.

Global gold reserves increased to 31,575.1 tons as of January 2013. We highlight the ten countries with the biggest official gold holdings as reported by the World Gold Council . We also included the percent of foreign reserves they possess in gold.

Click here to see the countries

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


TOPICS: News/Current Events
KEYWORDS: currencies; economy; gold; goldbycountry; goldchart; investing

1 posted on 01/16/2013 6:52:14 AM PST by blam
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To: blam

As long as taxing, spending, and printing are the order of the day, holding onto some gold is necessary.


2 posted on 01/16/2013 6:56:42 AM PST by Combat_Liberalism
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To: JerseyanExile; Jet Jaguar
Bundesbank To Pull Gold From New York And Paris In Watershed Moment
3 posted on 01/16/2013 6:57:33 AM PST by blam
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To: blam
Gold still accounts for a very small percent of China's $3.2 trillion in foreign exchange reserves, compared with the international average of 10 percent.

Seems like there is less here then the headline promised.

4 posted on 01/16/2013 6:57:44 AM PST by DManA
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To: blam

The US is still #1?
Prove it. LOL.


5 posted on 01/16/2013 7:01:16 AM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: blam
"10 Countries Hoarding Enormous Stockpiles Of Gold".

10 Countries Hoarding Enormous Stockpiles Of Gold Tungsten.

Fixed it.

6 posted on 01/16/2013 7:09:08 AM PST by carriage_hill (AR-10s/15s are the 21st Century's Muskets. Self-Defense is The First Human Right.)
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To: DManA

Gold makes up a small percentage (by value) of China’s reserves.

It is a HUGE amount of gold. It is being measured against an IMMENSE number.


7 posted on 01/16/2013 7:10:41 AM PST by agere_contra (I once saw a movie where only the police and military had guns. It was called 'Schindler's List'.)
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To: agere_contra

The headline implies that central banks have changed their attitudes towards holding gold. I see no evidence of that in the story.


8 posted on 01/16/2013 7:16:33 AM PST by DManA
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To: onyx
The US is still #1? Prove it. LOL.

You want "proof of life"?

Here it is.

Wait... Some of those shelves are almost empty.

Dammit! Some of those shelves are EMPTY!

SHOW ME THE BULLION!

9 posted on 01/16/2013 7:28:01 AM PST by Covenantor ("Men are ruled...by liars who refuse them news, and by fools who cannot govern." Chesterton)
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To: Covenantor; Twinkie
Are those cream tungsten filled twinkies?
10 posted on 01/16/2013 7:43:44 AM PST by null and void (Gun confiscation enables tyranny. Don't enable Tyranny)
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To: DManA

The headline says “10 Countries Hoarding Enormous Stockpiles Of Gold”. That says nothing about changing minds. They’ve had enormous stockpiles of gold for ever.

It is a fact though. Central banks have become net buyers of Gold in the last five years.


11 posted on 01/16/2013 7:44:10 AM PST by agere_contra (I once saw a movie where only the police and military had guns. It was called 'Schindler's List'.)
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To: onyx

I have heard for years no gold in fort knox


12 posted on 01/16/2013 7:45:38 AM PST by television is just wrong
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To: agere_contra
Maybe I inferred that implication since it didn't seem reasonable to write a whole story about something that's been going on forever.

They’ve had enormous stockpiles of gold for ever.

13 posted on 01/16/2013 7:50:44 AM PST by DManA
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To: blam

For those of us who don’t have the time or inclination to click through to this excellent site:

#1 United States, 8,133.5 tonnes
#2 Germany, 3,391.3 tonnes
#3 Italy, 2,451.8 tonnes
#4 France, 2,435.4 tonnes
#5 China, 1,054.1 tonnes
#6 Switzerland, 1,040.1 tonnes
#7 Russia, 934.9 tonnes
#8 Japan, 765.2 tonnes
#9 Netherlands, 612.5 tonnes
#10 India, 557.7 tonnes

Those are “official” holdings, I’d bet India and China have twice as much in private hands.


14 posted on 01/16/2013 7:54:09 AM PST by null and void (Gun confiscation enables tyranny. Don't enable Tyranny)
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To: null and void
From this site - about the paragon of monetary sanity, Switzerland:

In 1997 proposals were announced to sell a portion of the country's gold reserves because they were no longer considered to be "necessary for monetary policy purposes", according to the World Gold Council.

1,300 tonnes were considered to be surplus gold and the country began selling this in May 2000. 1,170 tonnes were sold under CBGA1, and 130 tones were sold under CBGA2. Switzerland has announced no plans to sell gold under CBGA 3.

15 posted on 01/16/2013 8:02:56 AM PST by DManA
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To: Covenantor

What you’re not seeing is who actually owns that Gold.


16 posted on 01/16/2013 8:13:06 AM PST by agere_contra (I once saw a movie where only the police and military had guns. It was called 'Schindler's List'.)
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To: null and void

Thanks for posting the list for the patience-impaired.


17 posted on 01/16/2013 8:53:15 AM PST by khelus
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To: khelus
Thanks for posting the list for the patience-impaired.

That's me, usually...

18 posted on 01/16/2013 9:05:27 AM PST by null and void (Gun confiscation enables tyranny. Don't enable Tyranny)
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