Gold is the reserve currency, here's why.MOSCOW, May 25 (Reuters) - Russia's deal with the
International Monetary Fund (IMF) would forbid Moscow
from selling gold from central bank reserves, even to
help flood victims, a government source told Reuters
on Friday. The source was commenting on Thursday's
statement from President Vladimir Putin that he was
willing to dip into Russia's gold and diamond reserves
to help people in the flood-hit Sakha Republic who have
lost their homes. "Our monetary programme doesn't allow
central bank gold sales. We have to accumulate reserves
and must not allow central bank decapitalisation," the
source said. ((Moscow Newsroom, +7 096 941 8520,
moscow.newsroom@
Do not believe all those "gold and financial analysts" that says gold is dead because it has been demonatized. The story above proves that it still is. Anyone who holds a tremendous amount of wealth in U.S. dollars does not want Joe public to know that there is a true viable alternative to what they trumpet as "the world reserve currency". The gold market has been in a downward slump for over 20 years and they us that as powerfull example of gold being demonatized.
If Central Banks are selling their reserves (BoE auctions) who the heck is buying? It sure isn't Joe public because he is being told not to bother.
Dare to be different and think for yourself, do some research, you will be happy you did. Don't believe me, make up your own mind. Always remember what these financial gurus and analyst were saying last year when things went for a big dump. They were screaming BUY BUY BUY so they could SELL SELL SELL.
GD