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The Flight to Safety Accelerates, Hungary Increases Gold Holdings Ten Fold

The Flight to Safety Accelerates, Hungary Increases Gold Holdings Ten Fold

We’ve talked at length about how the geopolitical climate around the globe has ratcheted up in temperature over the past few years. The times are growing more and more uncertain as trade wars erupt and as the old global powers are seemingly losing control with each passing day.

This has led to countries such as Russia, and China, both of which are unarguably out of the “old” power structure and desperately want to increase their ground in the international game of finance and control.

Undoubtedly they are doing this and asserting themselves in any possible way that they can, suffering blow-backs and setbacks from the old power structure for each stride that they make.

One such tactic that they are using, and one that I have often highlighted, is their continued move away from US dollars as their reserve currency of choice. In its place, they are buying precious metals, most notably gold, at a feverish pace, exponentially increasingly their holdings as rapidly as they can.

Despite this fact, gold has suffered under intense artificial suppression, as a fat finger is kept on its price. The “canary in the coal mine”, as gold is often called, has been kept quiet, but for how much longer?

Increasingly, as the times become ever more precarious, with global leaders on edge, we are seeing more countries join the ranks of Russia and China, taking what they believe to be prudent steps and moving some of their reserves into precious metals.

Two such countries that have just recently increased their holdings of gold bullion, are Poland and Hungary, the former of which has been steadily doing so over the summer months and the later of which has just done so, in a massive way.

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