Jan Nieuwenhuijs: Uzbekistan is putting gold into circulation as money

Section:

11:13a ET Thursday, December 3, 2020

Dear Friend of GATA and Gold:

Gold researcher Jan Nieuwenhuijs reports today that Uzbekistan's central bank is coming close to formal remonetization of gold, issuing sealed and serial-numbered plastic cards containing small gold bars in various denominations. The cards are being sold at 28 banks throughout the country and can be sold back to those banks.

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Nieuwenhuijs quotes the central bank's announcement: "The Central Bank of the Republic of Uzbekistan commences the sale of gold bars through commercial banks to expand the investment and savings opportunities of the population as well as to promote the circulation of precious metals in the country."

"Circulation"? This gold sure sounds like a new currency.

Uzbekistan has a substantial gold mining industry and exports much gold every year, so its government well may be realizing the advantages of coining money out of its own natural resources, even if the International Monetary Fund doesn't like it.

Nieuwenhuijs' report is headlined "Central Bank of Uzbekistan Introduces Parallel Currency: Gold" and it's posted at his internet site, The Gold Observer, here:

https://thegoldobserver.substack.com/p/central-bank-of-uzbekistan-introd...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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