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The Bank of Tanzania plans to buy 12 tons of gold during the fiscal year in an effort to boost its foreign exchange reserves. The East African nation joins a growing number of central banks turning to gold.
Central banks gobbled up gold over the summer and the buying spree has continued into the fall. Globally, central banks added another net 42 tons of gold to their reserves in October.
Central banks continued to gobble up gold. Reported central bank gold reserves expanded by a net 77 tons in September with nine countries buying a ton or more.
Federal Reserve Chairman Jerome Powell said he’s not confident interest rates are high enough to slay price inflation. He also said he’s not confident they aren’t. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey wonders out loud why we should have any confidence if Powell doesn’t. Along the way, he breaks […]
Central bank gold buying continues to sizzle. Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.
Among the many problems currencies the markets face, there is one that is undocumented: the eurodollar market. This is yet another very large elephant in the room. This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
We’re fed up — fed up with the Federal Reserve. After all, it is the engine that drives the biggest government in history. In this episode of the Friday Gold Wrap, host Mike Maharrey explains what the Fed is, how it came to be, and how it enables reckless government borrowing and spending. He also […]
After returning to net gold buying in June, central banks continued to add to their gold reserves in July. Globally, central banks reported net purchases of 55 tons in July, according to the latest data compiled by the World Gold Council.
As evidence mounts that the major Western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its death will be painful for the highly indebted advanced economies in North America, Europe, and Japan. History […]
After three straight months of net sales, central banks globally became net buyers of gold again in June. On net, central banks bought 55 tons of gold in June as the Central Bank of Turkey switched from selling back to buying, according to the most recent data compiled by the World Gold Council.
