Poland buys gold for first time in 20 years

Poland buys gold for first time in 20 years from GATA

TDC Note – What’s that? Another country acquires gold for first time in multiple years!?! First India, now Poland. But I’m not suppose to think anything about this change in direction; it somehow doesn’t matter or it’s just a small amount it “won’t hurt that much”? Okay, I’ll play along. You tell me why these two nations, within the “Mackinders Heartland” thought acquiring gold at this time would be a good idea. I’ll wait here while you put together your presentation.

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Central Bank Gold Buying Hits Highest Level in Six Years, Macquarie Says

By Henry Sanderson
Financial Times, London
Thursday, September 27, 2018

Central banks have emerged as some of the biggest buyers of gold this year, with purchases hitting their highest level in six years, according to analysts at Macquarie.

Central banks have bought a total of 264 tonnes of gold this year, “by far the most at this stage of the year of any period in the last six years,” the bank said.

While gold buying has been dominated by Russia, Turkey, and Kazakhstan, Poland also bought gold for the first time since 1998, Macquarie said. …

… For the remainder of the report:

https://www.ft.com/content/e1334e52-c25c-11e8-95b1-d36dfef1b89a

 

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Chris Powell

The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (LeMetropoleCafe.com), and by Chris Powell, a newspaper editor in Connecticut. Murphy's essays reported evidence of collusion among financial institutions to suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor interests should act on Murphy's essays by bringing antitrust lawsuits against financial institutions involved in the collusion against gold. The response to these essays was so favorable that the committee was formed and formally incorporated in Delaware in January 1999. Murphy became chairman and Powell secretary and treasurer.