{"id":46149,"date":"2019-05-15T09:58:33","date_gmt":"2019-05-15T14:58:33","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46149"},"modified":"2019-05-15T09:58:40","modified_gmt":"2019-05-15T14:58:40","slug":"central-banks-are-buying-gold-at-the-fastest-pace-in-six-years","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46149","title":{"rendered":"Central banks are buying gold at the fastest pace in six years"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/mk0smt6w49ri1qf.kinstacdn.com\/wp-content\/uploads\/2019\/05\/istockphoto-870562900-612x612.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.sovereignman.com\/trends\/central-banks-are-buying-gold-at-the-fastest-pace-in-six-years-25060\/?utm_medium=email&amp;utm_source=sm_notes&amp;utm_campaign=notes&amp;utm_content=20190514_banks_buy_gold\">Central banks are buying gold at the fastest pace in six years<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Earlier this month the World Gold Council published its quarterly report\u2013 and it shows that central banks and foreign governments from around the world are buying up gold at their fastest pace in six years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is pretty big news, and it says a LOT about the future of the dollar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, central banks and foreign governments hold literally TRILLIONS of dollars of reserves\u2026 and traditionally they do this by buying US government debt.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It sounds strange, but to big institutions, banks, etc., US government debt is equivalent to cash. They use it as a form of money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Did you know?&nbsp;<\/strong>You can receive all our actionable articles straight to your email inbox&#8230;&nbsp;<a href=\"https:\/\/www.sovereignman.com\/resources\/perfect-plan-b-guide\/\">Click here to signup for our&nbsp;<em>Notes from the Field<\/em>&nbsp;newsletter<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More importantly, they hold US dollars because that\u2019s the global standard: the US dollar has been the world\u2019s primary international reserve currency for seventy five years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So US debt is extremely liquid. In fact, the $22 trillion US debt market is the biggest and most liquid market in the world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But foreign governments have started breaking with the tradition of buying treasuries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the World Gold Council\u2019s report showed us,&nbsp;<strong>foreign governments and central banks have been buying a LOT more gold than in previous years.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net gold purchases in Q1\/2019 among foreign governments and central banks was nearly 70% greater than Q1\/2018\u2026 and the highest rate of first quarter purchases in six years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Chinese in particular, have been stockpiling gold faster than ever, while at the same time, Chinese ownership of US treasuries as a percentage of total holdings has been gradually declining over the past years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And it\u2019s not just China.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central banks are buying gold at the fastest pace in six years Earlier this month the World Gold Council published its quarterly report\u2013 and it shows that central banks and foreign governments from around the world are buying up gold at their fastest pace in six years. This is pretty big news, and it says [&hellip;]<\/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":[124,195,374,379,7313,1988],"class_list":["post-46149","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-debt","tag-gold","tag-government","tag-sovereign-man","tag-world-gold-council"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46149","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=46149"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46149\/revisions"}],"predecessor-version":[{"id":46150,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46149\/revisions\/46150"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}