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  • The Significance of the IMF-RBI Gold Sale [View article]
    Thanks, Mr. Iacono for the note and particularly for the table on the sovereign gold holdings. I agree with your comment that "...there are many countries that have woefully small gold reserves and, for better or worse, these same countries are also loaded to the gills with U.S. dollar denominated assets..."

    I suppose the low-gold-percentage countries (China, Japan, Taiwan, Russia and India) are carefully trying to replace some of their USD with something with a little more long term stability, but they can't do it too quickly or too publicly without destroying the value of their USD assets. But the table shows they have an awfully long way to go.
    Nov 05 09:24 am |Rating: +2 0
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