Central Banks Hoarding Gold after the Big Drop

Central Banks Buy Gold On Last Week's Big Drop . Central Banks are buying gold on the dips having bought about 4 Tons the past week according to insiders. Central Bank Gold Buying is a Game Changer" Also remember, China is dig the hell out of their ground and are now the number 1 miners of both gold and silver in the world. You think they are reporting to any agency or institution on how much they are mining?! It's a game theory, the first country to run back to gold will cause the chain reaction... those with gold will win, those without lose.Central banks are taking advantage of the fact that the price of gold dropped 3 percent last week. Reuters said that central banks bought about $250 million worth of gold last week through the Bank for International Settlements.

James Turk on The Gold Standard

James Turk on The Gold Standard

Gold is a good inflation hedge, just don't get into the futures game unless you wanna get hammered when the banksters manipulate the market. James Turk Director of the GoldMoney Foundation argues that the gold standard has been proven to be a working monetary system with automatic leveling functions. As a result of the coming structural changes to our monetary system, both men recommend owning tangible assets. They point out, that those who act first have a great advantage.He also speaks about currency devaluation and the rising gold price. How the gold price is rising against all major currencies and monetary policy is political, having abandoned all pretense of seeking monetary stability. He warns of the dangers of a hyperinflationary crisis. James also explains why gold should be considered money and not an investment.James Turk mentions that today, commercial banks as well as central banks are leveraged at unsustainable levels. While both agree that it makes sense to get back to less risky traditional banking and a sound money system, He raises the question of how it will be possible to bring the leverage down to prudent levels again and how to get rid of the huge amount of complex derivatives. He also talks of the coming dollar collapse and the waterfall decline in the dollar, especially since Ben Bernanke's words on QE