What are the important facts concerning gold?
1. Countries are buying physical gold to secure their nation’s economic stability.
2. Gold is becoming a substitute for purchasing oil. The age of the petrodollar is ending and the consequences to the United States will be substantial.
3. Countries are transferring their gold from US and London banks to their own central banks or storage facilities.
4. The price of gold has been relatively stable for the past year (up 1.37%).
Is there a gold shortage. Has the gold in the United States disappeared? How much gold has been counterfeited? Although these may be good questions, look back at the facts. The world is preparing for war and/or economic collapse. Throughout history, the country with the most gold wins. And right now, that is probably China since the United States and the Federal Reserve will not allow an audit of our gold. China has been mining and buying gold for several year but their actual reserves are unknown.
So why is item 4 an important fact? The real question is who has the power to manipulate the price of gold, silver and oil?
David DeGerolamo
First ton of SOFAZ physical gold placed today in Central Bank’s safety vaults in Baku
Baku, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has placed today the first ton of physical gold in the safety vaults of the Central Bank in Baku, purchased at the London Stock Exchange of Precious Metals (LBMA) within the SOFAZ investment policy.
According to the Fund, today British company Brink’s Global Services delivered from London to Baku and placed 1 ton (32,150 ounces) of gold owned by SOFAZ in the CBA vaults.
The Oil Fund has been acquiring physical gold since February 2012 in batches of 10,000 ounces a week. By early 2013 SOFAZ brought its gold assets up to 14,934 kg (480,146 ounces).
Initially London-based warehousing units of JP Morgan were selected for storage, but now all the gold will be gradually transferred to storage in Azerbaijan. Prior to the completion of construction of a new residence of SOFAZ this gold will be stored in the CBA vaults, and then will be transferred to the Fund’s own store in its residence at Heydar Aliyev Avenue in Baku.
SOFAZ investment policy allows it to keep in gold up to 5% of assets.
