A country accumulating gold I never thought of.
About 2 months ago, I wrote a story regarding the New Silk Route between China and Europe.
In this article I mentioned that the importance of Gold would increase among the nations which are the mayor playersin this new Silk Road.
Obviously I looked at China, Russia and Europe, but I completely missed one country which will play a very important role in this silk road as a transit nation.
This country lies between Russia and China and its well known because of the movie “Borat”.
The country I am talking about is the Republic of Kazakhstan.
Over the last years it accumulated a significant amount of Gold and at this vey moment it passed the United Kingdom.
Over the last 5 years, each month this country accumulates gold in its reserves.
In 2016 it added a total of around 36 tons of gold.
In 2017 it added a total of around 40 tons of gold.
In March 2018 the meter is showing around 10 tons of gold.
In this pace, another 40 tons of gold will be accumulated again thos year and its gold reserve will be 340 tons and will pass Saudi Arabia on the list of Nations holding gold.
We never hear anything of this in our news, but it shows that these silk road countries are “teaming-up” to enter a phase in which gold will become an important factor against the US Dollar in the financial markets again.
If we add up al the gold in the Silk road countries we see a gold reserve of more than 15.000
Germany 3374 tons
Italy 2451 tons
France 2435 tons
China 1843 tons
Russia 1829 tons
Switzerland 1040 tons
The Netherlands 612 tons
Portugal 383 tons
Kazakhstan 310 tons
United Kingdom 310 tons
Spain 282 tons
Poland 103 tons
Belarus 47 tons
Ukraine 24 tons
Total 15043 tons
Compare this with the total reserves of the US, being 8,134 tons of gold.
I believe that when this Silk Road will become a major trade route, the days of the (petro) Dollar as the main trade currency will decline and fade out.
When this will take place is very unsure, due to complicated geo-political challenges, but will sure be a factor to keep an eye on.
Enjoy!
I think some of those reserves are "paper gold", they use them to manipulate the gold price, at least the Americans and the british ones.
Thank you for your continued support of SteemSilverGold
Excellent!! and Turkey is another..(you might like the post I put up a few hours ago..mote evidence of bottoming, sil/gld. thanks
Do you really believe that US has 8,134 tons of gold? Not in Fort Knox, according to several sources...
That is the biggest mystery in the world, but according to the “official” data there should be😜