Turkey was the last country to ask for gold, and withdrew 220 tonnes of gold from the US Federal Reserve on 19 April 2018. The country's 220 tonnes of gold are valued at $25.3 billion. Turkey has followed countries such as Germany, the Netherlands, Austria, Belgium, Russia and China which have already started to repatriate their gold stocks.
There is a real lack of confidence in the U.S. Treasury which currently holds 261,000,000 ounces of gold mainly at Fort Knox, according to GOLD TELEGRAPH. Furthermore, the official gold reserves have never been thoroughly independently verified.
Why Romania Wanting Its Gold Back May Mean More Than You Think Mar 06, 2019 Guest(s): Jeffrey Christian Managing Partner, CPM Group
The repatriation of gold from central banks has less to do with gold and more to do with the rise of nationalism, said Jeffrey Christian, managing partner of CPM Group. “The more important thing has nothing to do with gold and it has everything to do with the rise of nationalism,” Christian told Kitco News on the sidelines of the PDAC 2019. “What you’re really seeing is a rising nationalist trend, not only in Europe, but also in other countries.”
Italy’s gold reserves belong to central bank – BoI’s Visco Posted on March 6, 2019 by News Reuters/Stefano Bernabei/3-4-2019
“Bank of Italy’s Governor Ignazio Visco said on Monday the country’s reserves of gold belonged to the central bank and could not be used to fund government spending.”
Note: Here we are again witnessing an argument among principal players over the sovereign nature of a barbarous relic that has no relevance in the modern monetary system [sigh. . . to NWO fiat$fed counter paper fits]
Modern Monetary Theory is smoke and mirrors nonsense Posted on March 6, 2019 by Opinion MarketWatch/Kenneth Rogoff/3-5-3019
“Just as the Federal Reserve seems to have beaten back blistering tweets from President Donald Trump, the next battle for central-bank independence is already unfolding. And this one could potentially destabilize the entire global financial system. A number of leading U.S. progressives, who may well be in power after the 2020 elections, advocate using the Fed’s balance sheet as a cash cow to fund expansive new social programs, especially in view of current low inflation and interest rates.”
The Fed is moving to take even more control of debt markets and interest rates Posted on March 6, 2019 by Opinion Mises Institute/Thorsten Polleit/3-4-2019
“In the second scenario, in the light of an actual or expected rise in inflation, people lose their confidence in the value of the currency. They try to rid themselves of their money balances, withdraw bank deposits and divest their bond holdings. To prevent this from raising market interest rates, the central bank has purchase more debt and issue more money. This causes confidence in the value of money to decline further. The debt market sell-off continues, and more money is issued, so that eventually price inflation accelerates.”