Where a Nation’s Gold and Your Gold Should be Held
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch – GoldForecaster.com
Purpose of Holding Gold
Most central banks hold their nation’s gold in the vaults of the world’s leading financial centers’ central bank vaults. These include New York, London, and Canada among others. In a peaceful, cooperative world, this is sensible as one of the prime purposes of central banks holding gold is to cover the nation’s international trade payments when their own currency becomes unacceptable and their reserves of foreign exchange are depleted. By positioning the gold outside the country, it’s instantly accessible for payments or guarantees of payments.
Dangers of a Nation Holding Gold in Another Nation’s Central Bank
In the last week we have heard the announcement that Iran has (according to them) 907 tonnes of gold. The developed world has just outlawed Iran dealing in gold and silver (there are other places, where if they wished to do so they will be able to trade). With their gold inside Iran, it is outside the reach of the developed world though. If they had held their gold in the world’s main, developed world vaults that would have been frozen along with Iran’s other overseas assets. We may not agree to Iran’s politics and attitudes, but there is a lesson to be learned here.
Ownership implies the freedom to do what you want with an asset. In this case we are talking about a nation’s assets. The handling of Iran’s assets by freezing of their assets shows that other nations can interfere with that freedom. Governments feel free to impose restraints on other people’s assets within their jurisdiction. It is this concept of a right to restrain the rights of ownership that will prove a growing issue.
With the world changing from an under-developed world with a developed world to an emerging world drawing down power and wealth from the developed world, there are many changes taking place which will lower the levels of international cooperation in the days ahead as political, religious, monetary and economic pressures rise.
One nation that has foreseen these pressures coming is Venezuela. Their 160 tonnes of gold was held in Canada, the U.S. and European vaults and out of their full control. Their policies –including the nationalization of gold mining and export—have proved unpopular in the developed world too. With Venezuela being an oil exporter primarily, the unpopular President (outside the nation) felt it prudent to ship his nation’s gold back home. The process began a few months ago.
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Need to put that gold where the Annunaki can get to it easily. They will be here soon and the slaves have amassed a large amount of gold for them, as they need it.
Used to we dug it up for them, now we work real hard and poay taxes to their offspring who buy it all up and store it somewhere.
There must be a large amount of gold stored somewhere waiting the arrival of the Annunaki. It is the gold that they want, and it is the gold that they will get, as well as the children that have been stolen away.