Tuesday, May 20, 2014

Central Bankers Moving Towards Gold

19 May 2014 - ECB and other central banks announce the fourth Central Bank Gold Agreement.  (Read more)

In the interest of clarifying their intentions with respect to their gold holdings, the signatories of the fourth CBGA issue the following statement:
  • Gold remains an important element of global monetary reserves;
  • The signatories will continue to coordinate their gold transactions so as to avoid market disturbances;
  • The signatories note that, currently, they do not have any plans to sell significant amounts of gold;
  • This agreement, which applies as of 27 September 2014, following the expiry of the current agreement, will be reviewed after five years.
If not ALL, most Central Banks around the world have gold in reserve, WHY not YOU! 
Many financial planners don't even know that you can own physical gold and silver in private vaults that are fully insured. If these Central Bankers see the writing on the wall of bad things to come, and are moving their reserves to gold, then I think it would be a smart thing to do and follow their lead.  BK