Monday, August 1, 2011

South Korea: $1 Billion In Gold

Bank of Korea (South Korea) announced that it has purchased 25 tons of gold in the past two months, at a cost of $1.24 billion for 803,769 ounces, representing a per ounce price of $1,543.00, to increase its gold holdings. This moves South Korea up the list of central banks holding gold from 56th to 45th.

While purchasing the gold below current market value, the fact that another Sovereign Central Bank has chosen to increase its gold holdings at a time of historical high gold prices suggest that the price of gold has a long way to go, and supports the premise of SHTF America that Central Bankers have begun to prepare for a new global currency based upon precious metals. Get yours.

Read the full story (here)

Thursday, May 5, 2011

Mexico Buys $100 Million In Gold

Marketwatch  is reporting that Mexico has purchased 100 million dollars in gold from the IMF in the past two months.

This action is consistent with global central bank purchases of gold to prepare each nation for the redistribution of wealth under a New World Currency plan as we have predicted at SHTF America: Economics; and SHTF Economics.  Read the full story here:  gold

Wednesday, October 6, 2010

Precious Metals

Copper, silver, and lithium are included here for their industrial importance; silver for its investment and monetary value as well.