CD Media
Markets

Poland Wants More Gold: “The ‘Most Reserve’ Of Reserve Currencies”

Poland Wants More Gold: "The 'Most Reserve' Of Reserve Currencies"
Gold Bars At Grand Emperor Casion in Macau

Please Follow us on Gab, Parler, Minds, Telegram, Rumble

In 2018, the National Bank of Poland began aggressively adding gold to its reserves. Through the first half of 2019, the Polish central bank added more than 100 tons of gold, nearly doubling its reserves.

So, why did Poland decide to significantly increase its gold hoard? In a nutshell, to shield itself from geopolitical risk. In its statement, the bank said:

Gold is the ‘most reserve’ of reserve assets: it diversifies the geopolitical risk and is a kind of anchor of trust, especially in times of tension and crises.”

Now the Poles want to add another 100 tons to their reserves over the next several years. During an interview Monday, National Bank of Poland Governor Adam Glapiński said the bank currently holds 229 tons of gold, about half purchased during his term in office.

Over the course of a few years, we want to buy at least another 100 tonnes of gold and keep it in Poland as well.”

To read more visit Zero Hedge.

You Won’t Get Anywhere Else What You Get From CDMedia! Donate! 

Related posts

Old Wall Street Proverb – Interest Rates Are Low Until They’re Not

L Todd Wood

New Home Sales Down, Initial Jobless Claims Close TO 50-Year Low, PMI Down, KC Fed Data Down

CD Media Staff

New Home Sales Disappoint, But Manufacturing Beats

CDMediaNetwork

1 comment

Avatar
Rudolf Schmidt March 21, 2021 at 10:20 pm

If you can’t eat it or f-ck it, it has limited value. That includes gold.

Reply

Leave a Comment

Subscribe to our evening newsletter to stay informed during these challenging times!!