{"id":22787,"date":"2017-02-17T20:44:04","date_gmt":"2017-02-18T01:44:04","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22787"},"modified":"2017-02-17T20:44:04","modified_gmt":"2017-02-18T01:44:04","slug":"kyrgzstans-central-bank-urges-citizens-to-own-gold","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22787","title":{"rendered":"Kyrgzstan’s Central Bank Urges Citizens To Own Gold"},"content":{"rendered":"

Kyrgzstan’s Central Bank Urges Citizens To Own Gold<\/a><\/h3>\n
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“Gold can be stored for a long time\u00a0<\/strong>and, despite the price fluctuations on international markets, it\u00a0doesn\u2019t lose its value for the population as a means of savings<\/strong>,”\u00a0<\/em>Kyrgyzstan\u2019s Central Bank Governor Tolkunbek Abdygulov said,\u00a0“I\u2019ll try to turn the dream into reality faster.”<\/em><\/strong><\/div>\n
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A landlocked nation perched between China and Kazakhstan is embarking on an experiment with little parallel worldwide:\u00a0shifting savings from cattle to gold<\/strong><\/u>.\u00a0As Bloomberg reports,<\/em><\/a><\/p>\n

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One of the first post-Soviet republics to adopt a new currency and let it trade freely,\u00a0Kyrgyzstan\u2019s central bank wants every citizen to diversify into gold.<\/strong>\u00a0Governor Tolkunbek Abdygulov says\u00a0his \u201cdream\u201d is for every one of the 6 million citizens to own at least 100 grams (3.5 ounces) of the precious metal,<\/strong>\u00a0the Central Asian country\u2019s biggest export.<\/div>\n

In the two years that the central bank has offered bars directly to the population, about 140 kilograms of bullion have been sold, Abdygulov, 40, said by phone from the capital, Bishkek.<\/p>\n

\u201cWe are hopeful that our country\u2019s population will learn to diversify its savings into assets that are more liquid and — more importantly — capable of retaining their value,\u201d<\/strong>\u00a0he said. In rural areas, cattle is still the asset of choice for investors and savers, according to Abdygulov.<\/p>\n

What makes Kyrgyzstan unique is the central bank\u2019s effort to win converts by\u00a0providing infrastructure for safe-keeping and investment.\u00a0<\/strong>The central bank produces bars of different sizes, varying in weight from 1 to 100 grams.<\/p>\n

The central bank governor believes his plan is realistic, even though it means the population would own about 600 tons of gold, equivalent to 30 times the nation\u2019s current annual output. Abdygulov declined to specify the timeframe for when his goal of 100 grams per person can be met.<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n

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Kyrgzstan’s Central Bank Urges Citizens To Own Gold “Gold can be stored for a long time\u00a0and, despite the price fluctuations on international markets, it\u00a0doesn\u2019t lose its value for the population as a means of savings,”\u00a0Kyrgyzstan\u2019s Central Bank Governor Tolkunbek Abdygulov said,\u00a0“I\u2019ll try to turn the dream into reality faster.” A landlocked nation perched between China […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[83,124,374,14805,14806,4318],"class_list":["post-22787","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bloomberg","tag-central-banks","tag-gold","tag-kyrgzstan","tag-tolkunbek-abdygulov","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22787"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22787\/revisions"}],"predecessor-version":[{"id":22788,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22787\/revisions\/22788"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}