When The Paper/Digital Money Shuffling Stops -- Those Who Own The Gold, Will Make The Rules
When The Paper/Digital "Money" Shuffling Stops -- Those Who Own The Gold, Will Make The Rules
When The Paper/Digital "Money" Shuffling Stops -- Those Who Own The Gold, Will Make The Rules
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Central Banks and Gold Holdings
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| Central banks have added over 300 tons of gold to their holdings so far in 2022. | |
| Now, when I read this, what do you think the first thing that came to mind was? | |
| Do you think gold is money? | |
| No. | |
| It's not money. | |
| Even if it has been money for 6,000 years, somebody reversed that and eliminated that economic law. | |
| Well, it's an asset. | |
| I mean, it's the same, would you say treasury bills are money? | |
| I don't think they're money either, but they're financial assets. | |
| Why do central banks hold it? | |
| Well, it's the former reserves. | |
| So why don't they hold diamonds? | |
| Well, it's tradition, long-term tradition. | |
| Some people still think it's money. | |
| That is one of Dr. Paul's greatest moments. | |
| Thank goodness it was on public display for everyone to see. | |
| And even all these years later, we still talk about it. | |
| Do central banks, do governments, Russia, China, are they just holding gold for tradition? | |
| Absolutely not. | |
| Absolutely not. | |
| Everyone knows in those echelons that gold is money and that we're just shuffling around paper. | |
| And like with musical chairs, you want to make sure you end up with a chair. | |
| So people, the central banks and the governments, they're accumulating gold. | |