Skoll, What is the correlation between amounts of gold mined and amount that central banks buy and hold in reserve?
The point Joe is making, is that central banks have been buying up gold since they started “QE” after GFC due to, inter alia, the massive inflation that they knew would ensue from QE. The less gold in the people’s hands, the more power the central banks will have when fiat currency falls apart. It should be noted that the US outlawed possessing gold in 1933 in order to “devalue it” as an economic policy to address the great depression. So I can only imagine what they are doing as of now to keep its foot on the throat of the market value fo gold. And they haven’t even banned physical possession of it yet. Eventually, people will wake up and realise that the US bills they have in their wallet is just useless paper and every man and his dog will be chucking said paper at gold merchants knowing that any re-establishment of some kind of economy must involve a medium of exchange that is tethered to a finite resource. And for thousands of years it has always been gold and silver. I see no reason for it to ever change.
