China continues to swap the US dollar for gold and now probably has the largest holding in the world. There is little hard evidence for this as the countries with the largest holdings are reluctant to have their gold independantly audited:
Krishan Gopaul, market analyst at the World Gold Council, said in a social media post that the People’s Bank of China bought 10 tonnes of gold in January.
For those without the attention spans to read all the way to the end, let’s cut to the chase and get the main point out upfront: China has more gold than the United States.
I bought most of my gold during the price dips of a few years ago. I still buy but only in small amounts to keep topping up my stock.
Madison Trust would be ruined by spreading lies. Unlike your bloggers.
What does Madison Trust do?
Madison Trust Company is a full-service Self-Directed IRA custodian offering account holders a way to invest in alternative assets beyond Wall Street such as real estate, private placements, promissory notes, precious metals, and more.
If you are going to invest based on lies and try to spread them here all of us know better than to take you seriously.
Adding just noticed an interesting thing in that report. The EU has more gold than the US. Germany, Italy, and France have more gold combined than the US.
A small insight into that, gaining that gold in central Europe was based on Demand-Side economics.
Then admit you posted the wrong information about how much gold the US has. We can write it off as you making a mistake instead of spreading lies.
People make mistakes time to admit them when wrong. Do not believe bloggers about gold. Huge numbers of them outright lie.
As far as polite…feeding us garbage on gold is rude. We invest money here. I sure as hell do not want these boards filled with people spreading lies about gold. It is wrong. I am calling the bloggers liars. I did not call you a liar. You spread a lie.
You now know it is misinformation and purposeful lies by the bloggers. Do not avoid that by worrying about who pointed it out. Most of the posters here would get around to tell you it is garbage misinformation.
That is half the information. It is also the wrong half.
Demand-side economics is supporting factory production with government assistance to public works so that private factories can flourish.
The UK is in a supply-side cycle but that is ending. As Labour comes to power a factory build-out will happen. You are wrong about that.
Factories enrich a nation. Gold is relatively more affordable to the central bank.
I find gold holdings fascinating purely from a “how heavy gold is” perspective. The Madison Trust link says the US has 8,133 metric tons of gold. Based on the density that works out to a cube that is roughly only 25 feet on a side. I just find that amazing.
I’ve also heard that all the gold ever mined in the world is basically a “cubic tennis court”.
I was writting about China which is the largest gold producer in the world and which has been hovering up gold and dumping Treasuries for quite a while now. Note the highlighted words:
China continues to swap the US dollar for gold and now probably has the largest holding in the world. There is little hard evidence for this as the countries with the largest holdings are reluctant to have their gold independantly audited:
Probably - little hard evidence - reluctant to have their gold independanty audited
No reason to call people liars - that’s just bad manners
That is completely untrue. The gold buggers made that up years ago. The bloggers repeat it endlessly. It is a total fabrication. A complete and utter lie no matter how many times it is said.
Just because you did not go on a walk-through to see the US gold by no stretch of the imagination, other than goldbug lies, does that mean the US treasury has not audited the gold.
Prove your statement with a statement by the US treasury that the US treasury does not know how much gold it has. Pure nonsense. The treasury data is public information.
The “independent audit” is a load of Bull to sell people on garbage talk in blogs. Conspiracy crazy stuff.
A lie is a lie.
I did not call you a liar. But you are spreading lies.
Either the information is wrong and you now know it is wrong or you do not care if you spread lies.
As far as bad manners telling people false information takes the cake. Are you going to purposely do that here?
The OIG conducts independent audits, investigations and reviews to help the Treasury Department accomplish its mission; improve its programs and operations; promote economy, efficiency and effectiveness; and prevent and detect fraud and abuse.
Has Fort Knox ever been audited?
Continuing audits of U.S.-owned gold at the Fort Knox depository and the Denver Mint were properly carried out. Control over the physical inventory of gold was adequate, and the quality of the gold was fairly stated.
I think the key phrase used by the poster you are attacking is independently audited. Unless you can show that Fort Knox has allowed some non-governmental entity to regularly count its gold bars, you probably owe Egentis an apology. If good manners matter of course.
You really need to relax a bit. It’s just a discussion board. CBD comes in gummies these days.
Good luck with your investing. You need a lot of luck judging by how you process information.
It is important not to let falsehoods rule your investments.
China is the world’s largest producer of gold, at 370 metric tons (each ton is equal to 1,000 kilograms or about 2,204 pounds). The country is home to many large gold mines, including the Shaxi Copper Mine in Anhui and the Dayingezhuang Gold Mine in Shandong.
China’s gold reserves climbed to 2,226t by the end of November, a 12t m/m increase and the thirteenth successive reported purchase (Chart 7). During this 13-month period, 278t of gold has been added to the PBoC’s gold reserves. So far in 2023 China has announced gold purchases amounting to 216t.Dec 14, 2023
My comment at a rate of 200 plus tons per per year roughly on top of 2226 tones to get over 8000 ton in the US treasury we are talking over 5 times 5 years per 1000 tons or plus 25 years to equal the US Treasury holdings.
I will say it again…the bloggers are absolute liars.
H.R. 3526 would require the Comptroller General to immediately conduct a full assay, inventory, and audit of the United States’ gold reserves and repeat the process every five years.
Meanwhile, there is evidence the U.S. Treasury may have sold, swapped, leased, or otherwise placed encumbrances upon some of America’s gold over time. However, federal government officials have strongly resisted disclosure of these activities for decades.
I’m not too sure what happened to H.R. 3526
Generally i do not believe what government and bankers tell me
But why do you believe the bloggers? You seem like a person who says “hey, these people over here are telling me I’m right to be skeptical of the Treasury, so they must be telling me the truth”, when in likelihood they are also lying to you as well.
The best piece I’ve ever read about gold is here. Beginning in the middle of page 18. Short excerpt attached here, but you will have to go to the link to read the meat of it.
Today the world’s gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.)