Bagholder Update: Central Bank Gold Losses More Than Half A Trillion Dollars
Not to say I told you so but ………… I told you so. I said time and again over the years that people who continually cited global central bank demand for gold as a reason to own it are bagholders using confirmation bias to support their faulty belief systems.
If I were to do anything blindly based on the actions of the fascist public-private partnership of central banking bureaucrats, it would be just the opposite of what they are doing. Central banking toadies are simply trying to bail out the corrupt special interests who enslave societies to their control systems.
Central banks around the world are exchanging dollars, (specifically dollars for gold although all currencies are being used to purchase assets) for the purchase of assets such as bonds, stocks, mortgages, gold, etc. If I simply did just the opposite without any thought or consideration, ie, purely based on ignorance, I would be selling bonds, stocks, mortgages and gold in return for dollars and I would be quite comfortable that my ignorance would be rewarded handsomely. Why? Central bankers are the epitome of the ignorance that defines the global dumbed-down corporate state idiocracy.
The amusing proverb of never fight the Fed or never fight the swell of money that Federal Reserve-backed criminals use to loot our society is quickly developing into an anachronism.