Poland joins Hungary with Huge Gold Purchase and Repatriation

[the other mike]

With a variety of the world’s central banks going on a gold buying spree in recent years such as Russia and China, there has unsurprisingly been no shortage of newsflow in this area for the world’s financial media to comment on. But even in such an environment of abundant sovereign gold purchases, a number of buying bombshells have stood out for their intensity and ‘shock and awe’ abruptness. Particularly from nations which on the surface might seem like unlikely gold buyers.

One of these was the announcement last October by Hungary’s central bank, that after 32 years of holding unchanged gold reserves, it had rapidly increased its monetary gold holdings by 1000% or 10 fold, from 3.10 tonnes to 31.5 tonnes, and also repatriated (brought home) this entire holding from London to Budapest, away from the clutches of the Bank of England. At the time we asked:

Poland joins Hungary with Huge Gold Purchase and Repatriation | Zero Hedge | Zero Hedge

Also, Rick Sanchez weighs in on RT America.

 

[Dekster]

Increasing gold reserves is inflationary.

 

[Erinwltr]

Interesting but not sure I trust the source. Any other links about this?

 

[Marion Morrison]

Hold on to your asses! The dollar is going to lose about 15% of value in the end.

 

[Dekster]

Hold on to your asses! The dollar is going to lose about 15% of value in the end.

Cool. That will be 15% growth in my retirement account.

 

[the other mike]

Interesting but not sure I trust the source. Any other links about this?

Does this look like a story the mainstream American press will be pouncing on ?
Not likely . But here is a third source for you to trust or not at your own perilous risk.
(another Rt article --oh well )
Still Trust London With Your Gold? - LewRockwell LewRockwell.com

 

[the other mike]

Don't forget what may have triggered it.
Venezuela Maduro: $1.2B gold withdrawal blocked by Bank of England - report - CNN