overview on gold ownership worldwide; economics Crimean

4-16-13   Here are nations (central banks) with largest gold reserves as measured by tonnes. This list includes the International Monetary Fund and the European Central Bank.

  • The United States (#1) was static at 8,133.5 tonnes
  • Germany (#2) was down slightly at 3,391.3 tonnes (April 2013), versus 3,401.8 tonnes in late 2011
  • The International Monetary Fund (#3) was static at 2,814 tonnes
  • Italy (#4) was static at 2,451.8 tonnes
  • France (#5) was static at 2,435.4 tonnes
  • China (#6) was static at 1,054.1 tonnes
  • Switzerland (#7) was static at 1,040.1 tonnes
  • Russia (#8) increased reserves from 851.5 tonnes in late 2011 to 976.9 tonnes (April 2013)
  • Japan (#9) was static at 765.2 tonnes
  • The Netherlands (#10) was static at 612.5 tonnes
  • India (#11) was static at 557.7 tonnes
  • The European Central Bank (#12) was static at 502.1 tonnes
  • Taiwan (#13) was static at 423.6 tonnes
  • Portugal (#14) was static at 382.5 tonnes    http://www.foxbusiness.com/markets/2013/04/16/countries-buying-worlds-gold/
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India’s private gold holdings (not pure gold) probably total 15,000 tons, according to an estimate by Citigroup analysts in May. Some jewelers like T.K. Chandiran of Coimbatore thinks this number is too conservative, and the real amount is more like 30,000 tons, counting other hidden temple treasures.  http://blogs.wsj.com/indiarealtime/2011/07/14/indias-600-billion-hidden-treasure/
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Current Chinese plans call for an additional 2,000 gold vending machines (offering gold coins and gold bars) to come on line in the next two years. If they prove as successful as they did in Germany, where metals vending machines were first introduced, China’s consumer gold demand will surge.   http://moneymorning.com/2011/11/22/china-changing-global-gold-market/
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World gold holdings (2008) (Source: World Gold Council)[17]
Holding Percentage
Jewellery 52%
Central banks 18%
Investment (bars, coins) 16%
Industrial 12%
Unaccounted 2%            http://en.wikipedia.org/wiki/Gold_reserve
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2-18-14     World Gold Council: “Given last year was such a strong year, it will be hard to equal that again in 2014, [but] the stock of gold in China is less than half of that in India, so we think there’s plenty more room to grow.”   https://www.usgoldbureau.com/news/gold-news/chinese-gold-purchases-continue-outpace-all-other-nations-says-wall-street-journal
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correspondence between GATA and the U.S. Treasury Department on the subject in 2005:  The Treasury Department was surprisingly candid in that correspondence, asserting the U.S. Government’s authority, in declared emergencies, to confiscate precious metals and to restrict ownership of mining shares — and to confiscate and restrict every other financial asset as well. So perhaps precious metals investors shouldn’t feel too paranoid.   http://www.gata.org/node/5606
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11-30-12          How Will Confiscation Be Instituted?

Expect no warnings at all. Don’t be surprised if such an event were preceded by denials. Most likely it would happen over a weekend or public holiday so as to catch all off-guard. This would maximise the gold caught in the authorities net. 

all gold world

The objective of such legislation would be to ensure that a nation could reap as much gold as possible into the State’s coffers.

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Russia’s Black Sea race for oil/gas/ports 3-11-14 http://en.portnews.ru/comments/1759/

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3-11-14 Europe relies on Russian gas for around 30% of its total gas imports. Oil and gas accounts for more than half of Russia’s federal budget, according to the US Energy Information Administration. The pipelines through Ukraine plug both into the relationship. http://www.bne.eu/story5850/EU_freezes_talks_with_Russia_over_gas_pipelines_in_retaliation

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3-10-14 Russians need foreign investment and the syndicate that runs Russia cannot tolerate lower oil prices. Soon, North America’s bounty of oil and gas will swamp Moscow’s capacity. Authorizing the Keystone XL pipeline and championing natural gas exports would signal that we intend to do precisely that. -Condi Rice
http://triblive.com/opinion/featuredcommentary/5738080-74/russia-ukraine-putin#ixzz2vgziie9P

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Russian Firms Monitoring Ukraine Exposure
•Reuters
•Mar. 11 2014

Russian companies and banks are watching events in Ukraine anxiously because they stand to lose billions in investments and business in the former Soviet republic.

Russian banks are the biggest overseas lenders to Ukraine, accounting for 12 percent of the sector with about $28 billion of exposure, including Sberbank, VEB and VTB.

Companies with exposure are in the oil and gas sector, telecoms and metals and mining.

The mainly Russian-speaking eastern regions, which produce coal, metals, chemical products and combines for nuclear plants, are among the most heavily industrialized parts of Ukraine. http://www.themoscowtimes.com/business/article/russian-firms-monitoring-ukraine-exposure/495953.html

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