munKNEE.com Your Key to Making Money
Gold definitely has caught the public’s attention; for proof, just look at the number of cash for gold ads. Gold
has been rising since 2001 and its near vertical rise over the last two years helps explain some of the recent fascination, but political actions have helped as well. In the United States, Rep. Ron Paul and others have called for a return to the gold standard. Elsewhere, Venezuelan President Hugo Chávez recently nationalized his country’s gold industries, and some analysts have said countries should dip into their gold reserves to alleviate the sovereign debt crisis. With all these recent stories, we wanted to see which countries actually have the most gold in their reserves, based on information from the World Gold Council. [Take a look at the list below.] Words: 565
So says Michael J. McFarlin (www.futuresmag.com) in excerpts from his original article* as further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) where deemed appropriate to provide clarity and brevity to ensure a fast and easy read.
McFarlin goes on to say:
Honorable Mention: Venezuela
Although Venezuela technically is number 13 on the list behind Taiwan [#11] and Portugal [#12], Venezuela President Hugo Chávez’s move to nationalize his country’s gold industry was the catalyst for this list. With gold and oil under his control, perhaps now he can possess that pinnacle of dictatorial decadence…
Tonnes: 322.9
% of reserves: 60.8%
#10: India
The world’s second most populous country barely made the top 10 list…[even though it] consumes more gold than any other…
Tonnes: 557.7
% of reserves: 8.7%
#9: Netherlands
Although known for being a fairly liberal society, the Netherlands is fairly conservative in its financial reserves…
Tonnes: 612.5
% of reserves: 58.9%
#8: Japan
Gold only constitutes a very small percentage of Japan’s overall reserves. Like another Asian country on this list, Japan holds a significant number of U.S. dollars in its reserves…
Tonnes: 765.2
% of reserves: 3.3%
#7: Russia
As the world’s number five gold producing nation, Russia’s gold reserves have grown significantly over the last couple years…
Tonnes: 836.7
% of reserves: 7.7%
#6: Switzerland
Beyond watches, chocolate and pocket knives, Switzerland is best known as a financial center…
Tonnes: 1,040.1
% of reserves: 17.8%
#5: China
[Although China is] the world’s most populous nation…[its] gold holdings are only 1.6% of its total reserves…[given the fact that] it has more than $3 trillion in U.S. dollars in its reserve.
Tonnes: 1,054.1
% of reserves: 1.6%
#4: France
The French National Bank, Banque De France, is home to the country’s gold holdings…
Tonnes: 2,435.4
% of reserves: 66.2%
#3: Italy
Italy is the only top 10 country to also make the prestigious “PIIGS” list of Eurozone countries with sovereign debt problems (Portugal, Italy, Ireland, Greece and Spain), although Portugal just missed the list at number 12…
Tonnes: 2,451.8
% of reserves: 71.2%
#2: Germany
The largest economy in the Eurozone also has the largest reserve of gold…
Tonnes: 3,401.0
% of reserves: 71.4%
#1: United States
The United States holds nearly 30% of the 27,372.6 tonnes of gold in all sovereign reserves. Although Fort Knox is the iconic location of U.S. gold, more gold actually is stored in the Federal Reserve Bank of New York’s underground vault, although not all of it belongs to the U.S. government…
Tonnes: 8,133.5
% of reserves: 74.2%
[Editor’s Note: The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.]
*http://www.futuresmag.com/Exclusives/2011/8/Pages/Global-Gold-Holdings.aspx?page=12
Related Articles:
1. What is Money – Really – and Why Do We Need to Own Gold – Really?
Have you ever wondered what money really is [and why we need to own some gold as a result]? You’ll notice that everyone you read has a strong opinion , but who’s right? [Let look at the situation and see if we can come to an answer that we both can agree on.] Words: 3086
2. Fiat Money: Exactly What Is It? Why Is It Such A Scourge?
Considering the fact that you can fool some of the people some of the time but you cannot fool all of the people all of the time, is it any wonder millions, both through the Tea Party demonstrations and now the Occupy Wall Street Movement across the country and elsewhere around the world, are protesting the abysmal scourge that fiat currency has brought upon us as a result of that fateful day back on July 25th, 1965. To appreciate the significance of that historic day we must fully understand what fiat currency is and why such a concept is about to implode and this article does just that. Words: 1372
3. Alf Field is Back! The “Moses” Generation and the Future of Gold
I have come out of retirement for this one off, once only, speech to warn that the good ship “Life As We Know It” is sinking. You have the choice of getting into a life boat now or going down with the ship. The life boats consist of precious metals and other assets that will survive the coming currency destruction. [Let me explain.] Words: 1400