Canada has been selling off most of its remaining gold reserves to the general public. They have been selling gold coins and reaping better prices than dumping 400-ounce bars to bankers. The figures from the Bank of Canada and Finance Department show that the country held 77 ounces at the end of February. They sold over 21,000 coins in February. Through most of 2015, the country’s gold reserves stood at more than $100 million. US. Finance Department figures show that Canada sold 41,106 ounces of gold coins in December and another 32,860 ounces of gold coins in January.
That left Canada holding 21,929 ounces of gold in its reserves as of the end of January, and as mentioned, all that is left now is 77 ounces after February. The official statement was:
“The decision to sell the gold was not tied to a specific gold price, and sales are being conducted over a long period and in a controlled manner.”
“The government has a long-standing policy of diversifying its portfolio by selling physical commodities (such as gold) and instead investing in financial assets that are easily tradable and that have deep markets of buyers and sellers.”
Behind the curtain, governments do realize that eventually they must move to a cashless society in order to retain power. This is fueling the debate behind closed doors on how to address the monetary system. As we hear about MMT on this side of the curtain, behind it there’s a question as to whether money really needs the banking of this “barbaric relic” of the past, as John Maynard Keynes once called gold coins, and many are starting to regard him as right after all. Of course, this is self-serving, for they have really screwed up the finances of all governments on this journey down Socialist Lane.
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[–] Kahlypso79 ago
too late now to respond correctly.... Even if it were an isolated case.. it was mint stamped :) into tungsten....
[–] Zadim 0 points 1 point 1 point (+1|-0) ago
You think the it was an isolated case or prevalent practice throughout the Canadian Mint? What will it cost the government authority with this happening besides the complete loss of the citizen's faith in the right and just government of Canada.
[–] Kahlypso79 ago (edited ago)
What I think is irrelevant. What do you think? What do you think it would cost the government... http://www.usagold.com/ontheroleofgold.html
The Bank for International Settlements is essentially what you could call the backbone for the One World Order..if you're into that kind of thing. Economic strength is proven through war (unfortunately.. people have to stop being pussies and get more SPARTA - you want that richesse.. Survival of the fittest MF!) Gold (you can only print as much money as you have gold) and trade barriers (taxes, customs)
Adam Smith (scottish economics prof in late 18th Century) proposed a method of 'Laissez Faire' capitalism to replace the Mercantile model (british/french/russian empires..) Ended up crippling France into a bloody revolution and then Napolean Dictatorship...which then enabled the Rothschild's to take over the Crown of England due to them bankrolling the Napoleanic wars..and collapsing the British pound by buying up all those bonds...so.. thanks Adam... Royal Candadian Mint is loyal the the English crown?
Why do you think the Royal Mint gives a fuck what the canadian people think?
German leader of Reich Bank going to see Germany's gold in the Federal Reserve !
""Another amusing incident arose from the fact that the Reichsbank maintained a not inconsiderable gold deposit in the Federal Reserve Bank in New York. Strong was proud to be able to show us the vaults which were situated in the deepest cellar of the building an remarked:
"Now, Herr Schacht, you shall see where the Reichsbank gold is kept."
"While the staff looked for the hiding place of the Reichsbank gold we went through the vaults. We waited several minutes; at length we were told: "Mr. Strong, we can't find the Reichsbank gold."
Strong was flabbergasted but I comforted him. "Never mind: I believe you when you say the gold is there. Even if it weren't you are good for its replacement.""