Saudi Central Bank Caught Secretly Buying 160 Tonnes of Gold in Switzerland

    https://www.moneymetals.com/news/2024/09/12/saudi-central-bank-caught-secretly-buying-160-tonnes-of-gold-in-switzerland-003458

    Posted by Euro347

    24 Comments

    1. BRICS is happening. Central Banks are stocking up. New world order is coming, US has to pay back the trillions borrowed plus trillions in interest.

    2. the_sound_of_a_cork on

      Saudi Arabia also got caught murdering and dismembering a journalist.

      Archaic habits die hard.

    3. Global yearly production is 3,000 tons per year. Global inventory is around 187,000 tons plus 57,000 tons current underground reserves.

      Literally a rounding error, people with an agenda trying to impress cretins with numbers that seems big.

    4. I’d hardly call it a secret. Central banks across the world have been purchasing gold at a rate not seen in over 3 or 4 decades. That’s because gold is real wealth and they realize the house of cards they have built will collapse sometime soon and it’s going to be ugly. That’s another reason why many are exploring or piloting the use of central bank digital currencies (trash).

    5. Makes sense, likely big recession incoming so more ‘stable’ assets like gold, bitcoin and bonds will go up as stocks tank.

      * Microstrategy buying billions of bitcoin
      * Saudis buying billions of gold
      * Warren Buffet selling billions of stock and hoarding more cash than ever before

    6. Very lol prices have been pretty low even for the saudi… I heard their project cost around 85 dollars a barrel and currently oil is like mid 60s

    7. BRICS making moves, and Saudis see it. I hope I’m wrong, but I think the USD’s days as our reserve currency are coming to an end

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