While the private bankers of these central banks may be greedy megalomaniacs, we can rest assured they are the Supreme Experts of our markets and economies -- and they are buying gold at a rate unprecedented in history.
Some readers may be confused here. They have heard reports from the mainstream media and even the
World Gold Council
stating that gold buying by central banks is merely at "the fastest rate in 50 years."
Such reports ignore the fact that half of the world (the largest half, by dollar value) is not allowed to buy any gold. The corrupt, debt-bloated regimes of North America and Europe can't buy any gold. Why not? A little history is in order.
It was only
a few years ago
that these same, smug governments and their central bankers were dumping all their own gold at market-bottom prices, all the while lecturing the rest of the world about how gold was now a mere
At its peak, this massive gold dumping (and blatant gold-suppression scheme) reached 500 tons per year.
Why did they stop their gold dumping? Either these bankers "changed their minds" about this barbarous relic (in which case they never should have sold our gold in the first place) or they have simply sold all of it (like Canada), in which case they really shouldn't have sold so much gold. Meanwhile, central banks across the rest of the world are swapping their own paper currencies for gold at the fastest rate in history.
But why can't these Western central banks simply acknowledge their mistake and buy back the countless thousands of tons of gold they have dumped onto the market? Are they simply afraid of advertising their corruption/incompetence by buying thousands of tons of gold at over $1,500/oz after they had sold all their gold at under $500/oz (and under $300/oz in the case of the Bank of England)?
It's much more than that. Remember that when we are talking about Western central bankers we are discussing individuals with absolutely no sense of shame. Rather, these bankers are totally trapped.