Hungary is Working to Repatriate their Gold

As countries fight to define their sovereignty and the world's financial markets seem poised for future turmoil, many nations are quietly bulking up their gold reserves.

With Brexit, suprise European elections or closer to home with Trump threatening to shake up NAFTA, countries are looking to define their sovereignty, protect their national interests and get back to basics with how a nation establishes it's wealth and safety.

For centuries countries stored gold as a means of assuring they had the money and resources to keep their nations afloat during any period of economic insecurity.

With the value of fiat currency based on practically nothing but good faith, having a stockpile of gold assures that a means a value will always be assured regardless of what happens in the world economy or more importantly.. the American Dollar.

Hungary is the latest nation in the process of getting their gold back from Great Britain.

Hungary has 100,000 oz, which is small in the world scale of nations that hold gold but it is the latest in a number of countries looking to repatriate their precious metals and bring them back to their home soil for safekeeping.

For decades many nations entrusted Great Britain and the United States to secure their gold away from more volitile situations at home.

With economic uncertainty worldwide and a number of other factors countries are again steadily bulking up their gold reserves and looking to get back what is rightfully theirs.

Netherlands, Austria and Belgium are all now working to get their gold back from the Bank of England and store it themselves. Turkey has already recieved theirs.

Germany also repatriated it's gold last year that was being held by the Americans at Fort Knox in a widely publicized debacle.

Many fear the US sold most of its gold off and doesn't report or audit publicly how much they have. They seemed to drag thier feet returning Germany's gold that had many people saying they were scrambling to replace it. After stating they'd return it in installments they eventually let the bulk of it go back to its rightful owners.

Conspiracy theorists believe that America is truly broken financially and due to fail, collapsing under its massive debt and will lose it's prestige as the world's reserve currency.

Meanwhile Russia has been steadily building their gold reserves and are now #3 behind China and the U.S for total tons of the shiny metal reportedly owned.

China doesn't release monthly figures to the IMF like most countries do so it's hard to know how many they've truly got? They prefer to update their counts every few years and always shock the world with how much they've accumulated.

Many believe that China's total holdings may now reach the Americans 8,300 tons!

Russia seems proud of their numbers and is quick to show how many they're adding despite various sanctions imposed by the U.S. and their allies.

While most of the other developed nations show off thier gold, some even gives tours of their vaults and report their holdings by independant auditors, the US plays possum with their numbers.

Infact the U.S haven't done a proper audit of Fort Knox's contents in decades while up north in Canada we seemed happy to announce that we've sold off most of ours.

This leads many people think that the world is in for major economic wealth transfer that sees some other countries emerge as world leaders.

Thanks for reading and as always feel free to leave a comment, upvote or some other form of affection is welcome 😁

@goldenarms