“Hold Gold”: Why This Country Wants Its People to Buy Gold

Editor’s Comment: Important things are happening on the global stage with regard to the money system. It is a long game, and will take many years to fully play out. But one of those important developments involves the feverish return to gold holdings in both China and Russia, and many individuals in these societies, in India and other burgeoning world powers are also investing in gold.The reason? There is a power play in the works, and there is every possibility that the central banks around the world could drive the fiat currencies into the ground.

The U.S. petrodollar could well lose its global reserve status – indeed, there may be nothing to stop it. As that happens, people around the world are looking to stability, privacy and security in their monetary assets. This is even true in less developed, and little talked about places like Kyrgyzstan, mentioned in this article, were antiquated stores of wealth, like cattle, are still king. But with capricious times ahead, and neighboring Asian powers like China grounding themselves, the government is urging its people to get ready.Are you ready?One Country’s Central Bank Is Urging Its 6 Million Citizens To Buy Goldby Shaun BradleyThe central bank of Kyrgyzstan is encouraging its six million citizens to each own at least 3.5 oz (100 grams) of physical gold. The precious metal is the nation’s leading export but, surprisingly, the people there invest most of their money in cattle.

The country’s location on China’s border seems to be playing a significant role in its choice to shift away from their traditional form of investment. A growing trend across Asia has been an increasing demand for physical metals by private and institutional investors. The Chinese and Russian governments are leading the world in their efforts to stockpile gold, and in turn, they have been fueling speculation about its importance in the future of international finance.

Countries like India have seen internal turmoil as their traditions of owning precious metals confront the government’s new war on cash. The Indian people are the world’s largest buyers of gold, and the measures taken to eliminate cash transactions have only emboldened black markets to meet demand. As authorities crack down on paper money, gold remains one of the last physical and untraceable assets available. The current uncertainty in the banking system has increased demand for more direct control over one’s savings.

Source: “Hold Gold”: Why This Country Wants Its People to Buy Gold

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