Data from the People's Bank of China shows it bought gold again in September. Gold reserves rose by 26 tonnes, boosting reported net buying to 181 tonnes so far this year.
One of the ‘supports’ for the gold price was the release of FOMC minutes yesterday, something that once upon a time would have done a bit of a number on the price of gold.
History through a monetary lens is far more accurate than any other lens one can use. The farmers and the industrial workers lost to the Eastern Bankers and “the Flying Monkeys.”
Prohibiting gold mining means tightening central banking's control of money, financial systems, and the value of all capital, labor, goods, and services in the world.
Central bank demand continues to dominate the gold market. It could be a significant factor in why the precious metal continues to hold critical long-term support levels.
De-dollarization will be something foreign central banks and individuals pursue out of necessity as the dollar’s devaluation forces them into assets that retain purchasing power.
