Where Is All The Gold?
Ever since, well since forever, gold has made the world go round. There was a day when any money printed had to have gold backing it; not so now days. That is why the world's economy is in a major tailspin.
I was in a curious mode and wondered where all the world's gold is.
When I look back upon the days of the Bible and King Solomon, I read how the made so many items out of gold.
It is my opinion that we need to go back to a gold standard. Everything should operate with precious metals covering it. I don't just mean gold. This can be silver, platinum, copper and many others. mercury is even considered precious.
So who has the gold? I know there are investors that have some gold such as coins and maybe even some bullion. There is a lot of gold out there and there are mines still pulling gold out of the ground.
Lets take a look at who has the most gold in this world. This is the top ten gold owners.
At number 10 is the country of Japan.
Value: $39.36 Billion
Where is it or who is controlling it: Bank of Japan
At number 9 is the country of Russia. They seem to have quite a few gold mines, so they are pulling more gold out. Their production of gold is up 21%.
Value: $44.8 Billion
Where is it or who is controlling it: Central Bank of the Russian Federation
At number 8 is the country of Switzerland.
Value: $53.5 Billion
Where is it or who controls it: Swiss National Bank
At number 7 is the country of China. I assumed it would be higher considering their population.
Value: $54.22 Billion
Where it is or who controls it: Top Secret
At number 6 is no country. It is actually a company, and you can buy shares into this company and be a part-owner. This is a way you can own gold without actually having it on your person. I am putting a link to SPDR (GLD) at the right>
Value: $64.53 Billion
Where it is or who controls it: SPDR
At number 5 is the country of France.
Value: $125.28 Billion
Where it is or who controls it: Banque De France
At number 4 is the country of Italy.
Value: $126.12 Billion
Where it is or who controls it: Banca D'Italia
- IMF -- International Monetary Fund Home Page
IMF Home page with links to News, About the IMF, Fund Rates, IMF Publications, What's New, Standards and Codes, Country Information and featured topics
International Monetary Fund
At number 3 is the IMF. In a way, they are like a world bank that makes loans to poor countries and is supposedly trying to help the world's economy. I have my opinions about this, but that is a completely different hub and subject.
Value: $144.76 Billion
Where is it or who controls it: International Monetary Fund
At number 2 is the country of Germany.
Value: $174.7 Billion
Where it is or who controls it: The Deutsche Bundesbank
The number 1 holder of gold is the country of the United States. Of course, there are gold mines still producing more.
Value: $418.39 Billion
Where it is or who controls it: The majority is at Fort Knox. The rest is split between the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office.
Gold has been used as money for thousands of years. He who owns the gold has the power and essentially controls those who don't have gold.
It is my opinion that if you don't own any gold, you should.
Right now, gold is selling for $1583 an ounce. I remember just a few years ago when it was $400 an ounce. I kick myself for not spending a few thousand dollars on gold.
Do you have gold? Maybe silver would be an easier investment for you. The key is, precious metals will always be needed and wanted. I would always tell a person that one of the best buys you can make is a precious metal. Here are the prices of the different ones as of July 6th,2012:
Precious metal prices
© G.L. Boudonck
Investing In Gold
© 2012 Greg Boudonck