While I often write about the massive gold-buying currently taking place among many of the world’s central banks, what sometimes is omitted is mention of the surge in individual gold (and silver) buying in various parts of the world.
Today, the name in the news is Kurdistan. Prior to that, we have been getting steady reports from Iran of much more massive gold-imports, month after month after month. What we don’t hear about (in our supposedly “free press”) is much about the surge in bullion-buying taking place across much/most of Europe.
While the propaganda machine is quite happy to gloat over the poor people in Portugal forced to pawn their gold, what they don’t want to talk about is how pretty much anyone and everyone with sufficient financial resources in Europe is adding to their holdings of precious metals – and these are people who are not going to begin selling just because the price rises 40% or 50%.
Indeed, it is the strength of “physical” bullion-buying in Europe which was one of the reasons the banksters were unable to cause gold prices to break down – despite “predicting” that gold was headed below $1500/oz again and again. As the banking cabal disintegrates the economies of Europe one by one, they only encourage people to take their money out of the corrupt paper financial system of this crime syndicate and put it into the sanctuary of physical bullion.
There is an obvious message here for investors in North America: don’t wait for Financial Armageddon to (officially) arrive here before you begin to insure your own wealth from being stolen by the banking cabal. As the plundering of MF Global and now PFG Best have shown (along with a recent court decision in the U.S.); it’s already possible for the banksters to literally steal cash out of peoples’ accounts.
What more warning do people need? When theft becomes legal, then obviously we cannot trust having our wealth sitting in someone else’s hands – most especially history’s worst criminals, in history’s largest crime syndicate…
Iraqi Kurdistan Gold Imports rise sharply in Jan-July
Iraqi Kurdistan gold imports reached 34 tons in the first seven months of this year, according to the statistics of Directorate of quality control of the gold jewelry in Kurdistan…