The Trend Continues: Romania Introduces a Bill to Repatriate its Gold Reserves
The trend is accelerating, just as I predicted it would.
Countries all over the globe are growing anxious, as the geopolitical atmosphere of the world continues to heat up, threatening to hit a boiling point.
Central bankers and government officials who see the world through an unfiltered, non-rose-tinted lens are well aware of this, and are beginning to take the necessary actions required to protect themselves and their homelands.
China, Russia, India, Poland and Turkey are just a few of the countries that have made no secret of their plans for long-term accumulation of precious metals, in a hope to diversify their national reserves out of the U.S. dollar and into hard money.
I, along with many others in the precious metals community, believe that the reason for this is that they can see the writing on the wall and are well aware of what is coming down the road.
They know that the U.S. dollar will not be the reserve currency of the world forever, and from their actions, I believe they know that precious metals will once again take center stage, playing a vital role in the next successor to the throne.
Joining the growing ranks of concerned countries is Romania, a holder of 103.7 tonnes of gold. Or rather, a country that believes they hold 103.7 tons of gold.
As I have stated numerous times, if you don’t hold it, you don’t truly own it.
Physical possession of a significant portion of your precious metals is vital in these times of growing unrest.
Waking up to this reality, Chamber of Deputies President Liviu Dragnea and Senator Serban Nicolae of Romania have proposed a bill to force the National Bank to repatriate 95 percent of Romania’s gold reserves, which are largely held abroad.
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