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China is hoarding the world's gold
(www.newsweek.com)
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this post was submitted on 04 Nov 2023
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The article title says china is hoarding the worlds gold, yet the us owns the most by a very large margin...
Not to mention the large amounts of other countries gold that we hold and decide to keep permanently whenever a country makes us upset. We’ve stolen so many countries reserves, after FORCING many of them to store their reserves in the US.
Do you have sources for this?
Here’s a source on the U.S. holding large amounts of foreign gold. Yahoo Finance
Source on freezing foreign gold held in U.S. Reserve. I misspoke as to them seizing it, I haven’t been able to find anything to confirm that, I must have misremembered, sorry.
That makes more sense... they historically (culturally?) value jewelry over money due to the economic fluctuations that have occurred over time. Oftentimes they rely on precious metals for savings as it holds value better.
Add to the fact that there's over a billion ppl it stands to reason they may have accumulated more gold than most countries.
But idk where fort Knox stands in comparison, so maybe USA has more gold even so.
And another thing, it also says China PRODUCES the most gold. Okay so they produce the most and hold what, less than 30% what the US Fed holds? Ridiculous headline and article. Seems as if they've had every opportunity to amass more or equal to the other leaders and are only just now increasing holdings over the past 9 months.
yeah but china bad
Yes. And…?