The big question “who really has the gold” will be THE question rising from the ashes of a burnt paper system. Either central banks have it or not, having it will be THE ticket to sit at the table deciding on future policy. Having it or not personally will be the difference between having wealth to negotiate in whatever new system arises. Having gold or not will be the difference between having wealth or being at the mercy of charity. CANADA is 91st in the world for gold reserves. When the mountain of paper debt finall collapses, we will at the mercy of better led nations.
The world economy is sinking under a massive montain of fiat (paper) currency debt. The US debt of 18 TRILLION can never be repaid...and so, it will not. Canada holds reserves mostly in US Dollars. These reserves are needed to protect the CDN $ against shocks. In normal times, US $ reserves would be prudent, but we are no longer in 'normal' times. The single largest threat is that the failure of the US $ will crash the world economy...and our reserves of US $ will be WORTHLESS.
When the crash comes, the only important question will be "Who has the GOLD?" Canada is currently 91st in the world for gold reserves...a paltry sum. Either central banks have it or not, having it will be THE ticket to sit at the table deciding on future policy. Having it or not will be the difference between having wealth to negotiate in whatever new system arises. Having gold or not will be the difference between having wealth or being at the mercy of charity.
Better now we Canadians insist the gov show financial responsibility and leadership, rather than search for the culprits of this foolhardy policy after our nation has fallen into financial ruin.
For my kids, i would like to see the CDN gov. insure the value of the CDN $ by adding GOLD to its reserves. Help us to wake up the Canadian Government!
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