Central banks are STOCKING UP on gold: Since 2022, China has bought a record ~290 tonnes of gold. Last year alone, China acquired more than 225 tonnes of the metal. China's central bank increased its gold holdings for 17 straight months. In 2022 and 2023, world central banks bought 1081 and 1037 tonnes of gold, respectively. Prior to 2022, there was never a year in history with 1,000+ tonnes of central bank gold purchases. Have central banks lost faith in their own currencies?
@KobeissiLetter Do gold reserves matter in today’s global economy? Truly. The U.S. could never have or purchase enough. What difference do China’s reserves make? 🤔 @dissectmarkets
@KobeissiLetter Can anyone tell me where I can find, in real time, China’s gold attestation and proof of the gold reserve? curious minds want to know!!!!
@KobeissiLetter I’d rather see Central Banks buying gold than buying their own debt!
@KobeissiLetter Nothing that happened before January 1st 2024 is relevant anymore. This is the Basel III/NSFR era - it's a whole new ballgame for #Gold ...
@KobeissiLetter The real question is why the US and G7 aren't keeping up with BRICS
@KobeissiLetter @grantrobertb A lot of this has to do with the Russia sanctions in 2022. $300 billion of US Treasury reserve assets were frozen by DC. Since then, the non G7 central banks have bought way more gold tonnage each month instead of US Treasuries. If you anger DC, they can take your reserves
@KobeissiLetter Makes sense to me, China catching up
This trend could be seen as a strategic diversification rather than a loss of faith in fiat currencies. Gold has historically served as a hedge against volatility and inflation, providing stability in uncertain times. What's your take on how this impacts global economic policies going forward? #GoldInvestment #EconomicPolicy"