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The Central Bank of Turkey Was The Largest Buyer of Gold In April (8 tons!)


I keep telling you to watch what the Big Boys are doing…

And “big girls” ok?

Fine, let’s be all P.C. here.

Watch what the Big Boys and Big Girls are doing….not what they tell you on CNBC.

Because what they tell you on CNBC is often the exact opposite of what they are actually doing.

And do you want to take a guess on who ends up being right?

The Elites who are doing the exact opposite of what they just told you to do?  Or….you?

I think you know.

So I stopped playing that game a long time ago.

I no longer listen to what they tell me on their CNBC and Fox Business and Bloomberg.

Well, that’s not entirely accurate….

I listen and then I do the opposite!

I also watch and study what they are actually doing behind the scenes.

And do you want to know what that is?

They’re stockpiling GOLD and SILVER just as fast as they can get their grubby little hands on it!

Here’s the latest:

But it’s not just Turkey…

And this is not the first time I’ve told you about this.

No, it’s almost every single Central Bank out there!

Take a look at this:

Central Banks On A Gold Buying Spree — What Do They Know That You Don’t?

What do the Central Bankers know that you don’t?

A lot.

Oh, I don’t mean they’re any smarter than you, but what’s the best way to predict the future?  To plan it out and control it!

And make no mistake, these are the shadowy people pulling the strings of world affairs behind the scenes….and they rarely lose.

So I always say don’t listen to what they say (because they always “talk their book” and lie to your face) but watch what they do!

And I think I know EXACTLY what they’re thinking….

In fact, I just published this story and I think this story now explains why the Central Bankers are all stockpiling and hoarding gold:

BREAKING: The “BRICS” Just Doubled Overnight

The beautiful thing is we live in a time where it’s hard to hide real data, especially when you have people like us researching it and posting it for all to see.

And what is it that they’re doing?

Simply put — they’re on a GOLD buying spree!  Yes indeed!

It’s all been right there in front of us for everyone to see…

BRICS expanding, new BRICS currency to be Gold-Backed or Priced in Gold?

I could be wrong, but I’m thinking so.

In other words:  GOT GOLD?

Take a look at this:

42 tons in October alone, that is staggering!

For the second year in a row, these are the HIGHEST purchases by Central Banks since 2010:

Here’s more from Peter Schiff:

Central banks gobbled up gold over the summer and the buying spree has continued into the fall.

Globally, central banks added another net 42 tons of gold to their reserves in October.

China continues to be the biggest gold purchaser. The People’s Bank of China added another 23 tons of gold to its hoard in October as it expanded its official reserves for the 12th straight month.

Since the beginning of the year, the People’s Bank of China increased its reserves by 204 tons, and it has added 255 tons since it resumed official purchases in November 2022. As of the end of October, China officially held 2,215 tons of gold, making up 4% of its total reserves.

Most people believe the Chinese hold even more gold than that off the books.

There has always been speculation that China holds far more gold than it officially reveals. As Jim Rickards pointed out on Mises Daily back in 2015, many people speculate that China keeps several thousand tons of gold “off the books” in a separate entity called the State Administration for Foreign Exchange (SAFE).

Last year, there were large unreported increases in central bank gold holdings.  Central banks that often fail to report purchases include China and Russia. Many analysts believe China is the mystery buyer stockpiling gold to minimize exposure to the dollar.

The Central Bank of Turkey also made another big gold buy in October, expanding its holdings by 19 tons. Even with big purchases over the last several months, Turkey is still a net seller on the year.

The Turkish central bank sold 160 tons of gold last spring but returned to buying in the third quarter. According to the World Gold Council, the big gold sale earlier this year was a specific response to local market dynamics and didn’t likely reflect a change in the Turkish central bank’s long-term gold strategy. It sold gold into the local market to satisfy demand after the government imposed import quotas in an attempt to improve its current account balance. The country is running a significant trade deficit.

Although the Turkish government reinstated gold import quotas in early August, so far we haven’t seen a repeat of sales into the local market to meet elevated demand.

The National Bank of Poland also continued its recent gold-buying spree, expanding its reserves by another 6 tons. Its gold holdings have now risen by over 100 tons this year.

In 2021, Bank of Poland President Adam Glapiński announced a plan to expand the country’s gold reserves by 100 tons. Now that it’s reached that gold, Glapiński indicated it will continue to add gold to its holdings.

This makes Poland a more credible country, we have a better standing in all ratings, we are a very serious partner and we will continue to buy gold. The dream is to reach 20 percent.”

When he announced the plan to expand its gold reserves, Glapiński said holding gold was a matter of financial security and stability.

Gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electronic accounting records. Of course, we do not assume that this will happen. But as the saying goes – forewarned is always insured. And the central bank is required to be prepared for even the most unfavorable circumstances. That is why we see a special place for gold in our foreign exchange management process.”

Other significant gold buyers in October included:

  • India — 3 tons
  • The Czech Republic — 2 tons
  • The Kyrgyz Republic — 1 ton
  • Qatar — 1 ton

So….what can YOU do about it?

I’ve been telling you for a while now, and perhaps this is the “sign” you need to finally take action!

First, you need to watch what the big boys are doing and understand it’s smart to ride their coattails.

I think we accomplished that above.

Second, here’s my preferred solution for owning gold.

Why preferred?

A couple reasons….

I’m not a CPA or tax advisor or even an investment advisor of any kind, but the folks I’m about to tell you about are experts at this.

They’re patriots…

They’ll give you personalized, one-on-one attention by phone….

And they’ll show you how you can do this with NO MONEY OUT OF POCKET — all in a retirement account and usually tax free!

How’s that for a win-win-win?

So what can you do?

THIS!  👇

Here’s Why Central Banks Are Buying All the Gold They Can — And What YOU Can Do!

For the last two years, central banks across the globe have been buying up as much gold (and often silver) as they can acquire without raising alarm bells. Now, we see why.

The recent bank runs and ongoing collapse of the U.S. banking system was anticipated by the “elites” and the central bankers who run things behind the scenes. They saw it coming and knew the best way to protect their assets was through physical precious metals.

If you’ve been waiting for me to bring you a solution about what YOU can do to protect yourself and you’re family, I’m happy to introduce you to something I absolutely love!

Precious metals.

I just talked about precious metals this week with Bo Polny and now I’m bringing you a solution that you can utilize right away if you’re so inclined…

faith-driven, conservative precious metals company is currently helping Americans tap into the rising precious metals market through self-directed IRAs backed by physical precious metals. And while this service is not unique to Genesis, their adherence to Biblical stewardship of money makes them singularly qualified to receive a sponsored recommendation from this site.

Unlike most companies offering similar services, Genesis deals only with physical precious metals. They do not offer “virtual” or “paper” gold or silver.

With Genesis and their depositories, customers can see and touch the precious metals that back their retirement accounts. When it comes time to take distributions, Genesis customers can cash in some or all of their precious metals or have them delivered to their door.

Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.

Working with Genesis is the best way our readers can explore the physical precious metals market through self-directed IRAs. It benefits us as well when our readers work with this America-First company.

Visit genesiswlt.com or call 866-292-0443 today.

Don’t wait too long, we might have more bank failures right around the corner.

You know what has NEVER “failed”?

Gold.  Precious metals.  Indestructible.

There’s a reason they call it “God’s money”.

Watch this for more:

Or….I guess you could buy Gold at Costco?

If you can find any?

Oh, and you’ll pay a huge markup and you’ll be limited to two bars.

A “Gold Rush” Hits Costco With Demand For Gold Bars – Here’s One Way To Own Gold if Your Money Is In a Retirement Account

The demand for physical precious metals has been rising since before the pandemic.  Central banks have been buying ton after ton for two years. Even some U.S. states — like Tennessee — are filling their coffers with physical precious metals.

Now, Costco is offering gold bars to their members — and some observers are saying there is a “gold rush” on Costco’s gold:

Mike Cernovich reported: “People buying them but bars sold out fast. One disappointed customer had paid but the membership pick-up said it was out.”

Others had no idea Costco sold gold:

Buying gold at Costco is great for those who have extra cash on hand — but what about those of us with money tied up in retirement accounts?

Can we rollover or transfer retirement accounts into physical precious metals and keep it tax-deferred?

Genesis Gold Group says “Yes!”

Genesis Gold Group specializes in self-directed IRAs backed by gold and silver. As a Christian company, they believe this is an appropriate form of financial stewardship that puts Americans’ money on the fiscal high ground.

This isn’t “paper” or “virtual” gold or silver; Genesis Gold Group customers can physically see their precious metals at their convenience. And when it comes time to take a disbursement, they can convert to cash or have their precious metals shipped directly to their homes.

Click here to reach out today through genesiswlt.com.

Genesis Gold Group was given 5 stars by reviewers on the Better Business Bureau website. Here is what some of them say:

“Genesis Gold Group has been very helpful to me as a first time customer. They were very patient with me and answered every question I had. The process of moving my funds from my former account to Genesis Gold Group was straightforward and easy. I highly recommend their services.” — Brian B.

“Recently, I had two experiences with Genesis Gold Group and both were very easy transactions. My agent was very knowledgeable and informative about the products that I was interested in. I suggest that for anyone looking to move their retirement into tangible materials, Genesis Gold Group is the company to choose.” — Joyce R.

“Genesis Gold Group is a wonderful company to do business with. The staff are knowledgeable, courteous, and patient. They know I’ve had many questions before, during, and even after opening my Self-Directed IRA and everyone has been very kind and open. Start your Gold IRA with Genesis Gold Group without reservation!” — Gerald C.

To work with Genesis Gold Group to own precious metals via your retirement accounts, click here to reach out today.

Oh, and did you know SUPERMAN loves them too?

Yup!

Here is what conservative star Dean Cain (Superman) says about working with Genesis Gold Group:

When Genesis Gold Group was first built, co-founder Jonathan Rose knew two things were necessary in order to thrive in the extremely competitive precious metals industry. First, he knew they wouldn’t repeat the same deceptive marketing tactics “Big Gold” companies use to entice customers. Second, he knew they needed spiritual guidance if they were going to succeed in reaching Americans who want their life’s savings protected from the tumultuous markets.

“If we are going to live up to our namesake, we have to be truly driven by Biblical principles… not only as individuals but as a company,” Rose said.

Millions of Americans have grown increasingly concerned about the trajectory of our nation. It made sense for Genesis Gold Group to launch by combining over 50-years of experience in gold and silver with proper guidance from faith leaders. This is why Director of Philanthropy David Holland, was one of the first people they hired.

“As a minister of the Gospel of Jesus Christ, I firmly believe good stewardship of a believer’s resources is important and a foundation for a close walk with Him,” Holland said. “It is not difficult to see, based on the lack of biblical values in both our government and financial system, that we are swiftly heading into unstable times.”

The challenges aren’t just coming from the economy or government. The precious metals industry itself is rife with “Big Gold” companies who are willing to use sketchy marketing tactics and over-the-top sales pressure to get Americans into overpriced products.

Self-directed IRAs backed by physical precious metals are becoming more popular for mature Americans who are concerned about inflation, unsustainable debt, the ongoing banking crisis, and “woke” ESG funds filling their retirement portfolios.

Click here to reach out to Genesis Gold Group today.

The challenge, as Rose noted, is that the vast majority of self-directed IRA products being pushed by “Big Gold” are not built with the customers’ best interests in mind.

“The process appears to be the same from one gold company to another but there’s a huge gap between how secular gold companies do business versus how we do it,” Rose said. “We guide our clients to back their retirement accounts with metals that are priced right and have the greatest opportunity for growth. Most gold companies look only at their own margins when filling their customers’ depositories.”

==>Click here to contact Genesis Gold Group today and receive a free Definitive Gold Guide and learn more about protecting your life’s savings from the various threats we’re facing today.

(Note: Thank you for supporting American businesses like the one presenting a sponsored message in this article and working with them through the links in this article which benefit WLTReport. We appreciate your support and the opportunity to tell you about Genesis Gold!  The information provided by WLTReport or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.) 



 

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