Central Banks Buying Gold

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According to the World Gold Council, central banks are on pace to make their largest annual purchases of bullion since the collapse of the Bretton Woods system in 1971. Central banks have been net buyers of gold in the last several years and have purchased about 151 tonnes of gold year to date.

UBS recently did a survey of central bank reserve managers in which more than half of the bankers said that the dollar would be replaced by a portfolio of currencies within the next 25 years.FutureMoneyTrends.com would have to assume the bankers have included lots of padding in that prediction, or it could have been the way UBS asked the question. In our opinion, the dollar making it another 25 months as the reserve currency should be in question, heck with all the spending needed in order to pretend there is a recovery, even 25 weeks isn’t guaranteed.

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