why gold will make a comeback
DESCRIPTION
Youtube Version: http://www.youtube.com/watch?v=pXymKPpheJ0 5 Best Ways to Invest In Gold: http://dailyreckoning.com/get-your-free-report-the-5-best-ways-to-invest-in-gold/ You might be tempted to think that the global economy is recovering, the dollar strengthening and gold will finally sink into obscurity. Think again. Central bankers like Ben S. Bernanke may tell you that banks hold gold bullion only for sake of “tradition,” but gold traders know otherwise — gold is real money, and despite what bankers, economists and mainstream investors have been saying, their actions show they are terrified of a coming currency crisis. This Daily Reckoning video will show you exactly what is going on under the radar at some of the world’s biggest central banks, and how it is destined to affect gold prices. Follow The Daily Reckoning on Facebook and Twitter @dailyreckoning!TRANSCRIPT
Gold has been falling in price since late 2012 and investors have lost faith.
But central banks around the world have been buying up as much
gold as they can.
In 2012, central banks bought 535 tonnes of gold, the most
since 1964.
According to the World Gold Council, central banks will add another
record 550 tonnes in 2013.
In January, 2013, Germany retrieved 674 tonnes of gold from its accounts
in New York and Paris.
The German Federal Bank describes this move as a…
Russia has doubled their gold reserves over the past 5 years.
The Russian Central Bank says it wants to…
China is very secretive about their gold holdings.
But given domestic production, imports from Hong Kong,
and other means…
…some estimate that China may hold as much as 4,000 tonnes
by the end of 2013.
And in March, 2013, their imports from Hong Kong doubled.
Why so much gold?
In the first two months of 2013, a number of other countries
added to their own stockpiles.
The headlines might scream “strengthening dollar”, “growing
economy” and “falling gold.” We’re saying… just wait.
Debt accumulation will continue…
The dollar will depreciate again…
And investors will freak out and rush back to gold.