Central banks have been busy loading up on gold. They are purchasing at record highs these days and reports from Dec suggest they've been buying at the fastest pace in about 50+ years.
China is expected to be a leader in this space and for months they continue stacking precious metals.
China has been buying, Turkey, Singapore, India, and others.
There is a lot of talk about currencies lately and what the future might hold for fiat currency in general, especially with the prospect of some allegedly trying to dump the US dollar as the world reserve currency.
Might we actually see this take place? It would be a significant moment in history if that does turn out to be true and Trump isn't the first one to suggest that the US dollar might come crashing down at some point.
Others, like financial expert C Munger, have previously suggested that over the next hundred years that fiat currencies like the US dollar might be going to zero.
What is that scenario going to look like if it does come true?
Inflation has been terrible for the standard of living for many, but not only that it has also been suggested that inflation is how democracies die, but that doesn't mean that those pointing this out are any more likely to be open to cryptocurrencies.
Consumer demand for precious metals like gold was on the rise in 2021, last year as well we saw that worldwide demand for gold grew some too.
Previous surveys from only a few years ago suggested that as much as 10% or more of Americans might already own precious metals like gold, with even more possibly owning silver. Is inflation concern pushing more to consider precious metals and cryptocurrencies?
Despite the moves by central banks and their activities in the market economy today it seems that many are still unaware of their role and what it is they do exactly. Inflation and rate hikes might have made the topic more mainstream but overall there are still many who aren't familiar with the details on who is in charge of the Fed and what their overall role is on the economy altogether.
Pics:
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This is not financial advice, this has been posted for information purposes only.
Sources:
https://www.kitco.com/news/2023-03-07/China-s-central-bank-puts-the-world-on-notice-as-it-buys-more-gold-analysts-at-PDAC-expect-this-is-only-the-start-of-a-new-trend.html
https://www.kitco.com/news/2023-04-04/Central-bank-gold-buying-update-2023-sees-the-strongest-start-to-a-year-in-more-than-a-decade.html
https://fee.org/articles/central-banks-are-purchasing-gold-at-record-highs-why/