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Jan Nieuwenhuijs: Central banks becoming more honest about gold
12:10p ET Monday, November 25, 2019
Dear Friend of GATA and Gold:
Western central banks and particularly those of Germany and France lately have been acknowledging gold's crucial role in the international monetary system, Jan Nieuwenhuijs writes today at Finland's Voima Gold internet site.
Nieuwenhuijs observes: "After the global financial crisis, not only have Western central banks changed the way they talk about gold -- that is, they have become more honest regarding gold's function as a safe haven -- but, as a sector, central banks have also become net buyers. Many central banks have redistributed their gold, carefully considering all possible future risks and developments.
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"A few central banks have upgraded their gold to current industry standards to be able to trade frictionlessly in international markets. One central bank, the Banque de France, has even enhanced its entire vaulting infrastructure. And this is just based upon publicly available information."
Nieuwenhuijis' commentary is headlined "German Central Bank: Gold Is the Bedrock of Stability for the International Monetary System" and it's posted at Voima Gold here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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