As Gerald Celente had forecast in his podcast on 16 October, there would be a sharp correction in gold, possibly going down some $500 per ounce when it was trading in the $4,350 per ounce range.
Tag: central banks
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GLOBAL DEBT REACHES YET ANOTHER NEW RECORD
At the end of this year’s second quarter, worldwide debt had climbed to $337.7 trillion as the world’s economy weakened, central banks reduced interest rates, and the U.S. dollar’s value continued to slump, the Institute of International Finance (IIF) reported.
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STABLECOINS FAIL KEY SAFETY TESTS, CENTRAL BANKS GROUP SAYS
Stablecoins currently “perform badly” on three key safety tests that would allow them to be used as currency, according to an analysis by the Bank for International Settlements (BIS), an organization serving the world’s central banks.
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CENTRAL BANKS WILL CONTINUE STOCKPILING GOLD
In a new World Gold Council survey, 95 percent of the more than 70 central banks responding said they expect to add to their gold reserves this year and that their dollar reserves will decline over the next five years.
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GOLD BULLION IS CENTRAL BANKS’ SECOND MOST PLENTIFUL RESERVE ASSET
Gold bullion has surpassed the euro to become central banks’ second most plentiful reserve asset in terms of value, according to a new report from the European Central Bank (ECB).
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THE FINAL CHESS MOVE
Just this past Friday, Jamie Dimon, the CEO of the Wall St. Superbank JP Morgan made THIS statement: “We Will Have a Global Restructuring.”
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GOVERNMENTS, CORPORATIONS TOP $100 TRILLION IN BONDED DEBT
The governments and corporations in the 38-nation Organization for Economic Cooperation and Development (OECD) have more than $100 trillion in bonded debt outstanding, almost as much as the entire world’s GDP, which is between $105 trillion and $110 trillion, a new OECD report has found.
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METALS PRICES SKYROCKET AS TRUMP’S TRADE WAR INTENSIFIES
Copper and gold are fetching record prices and silver futures are trading at levels not seen since 2012 as investors seek safe havens and U.S. manufacturers stockpile raw materials ahead of rising tariffs.
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GERMANY’S CENTRAL BANK REPORTS FIRST ANNUAL LOSS IN 46 YEARS
Germany’s Bundesbank lost €19.2 billion last year, its first negative year since 1979.
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CENTRAL BANKS ARE STILL BUYING MORE GOLD, DRIVING UP PRICES
Central banks bought more than 1,000 metric tons of gold last year, accounting for about 20 percent of the market. It was the third consecutive year in which the banks bought gold in such large amounts.