Why are Central Banks Purchasing Record Amounts of Gold?
By GCR Real-Time News
Why are Central Banks Purchasing Record Amounts of Gold?
China, Russia, and Australia are the top 3 gold mining countries globally. Their combined average production is 976 tons of gold annually.
This year, central banks around the world (excluding the USA) are on track to buy nearly 1,000 tons of gold, which is more than the top 3 global producers combined.
Why are central banks buying so much gold at an accelerating pace? Because:
1) Gold will be dramatically revalued once the global fiat financial system collapses (actually, gold will return to its TRUE value)
2) They’re planning for gold to back their currencies after the collapse
3) They’re preparing for the collapse of the US Dollar and to retire their national debt with the revalued gold.
