Stunning: Hungary’s gold reserves up by 3000% – PHOTOS
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Amid reports that gold investment jumped 18% to 4,741t in 2022, the price of gold has now dropped below $1900 per ounce this week, it’s lowest point since March 2023.
As central banks seek to use gold as an inflation hedge — a measure of protection against purchasing power risk — individual consumers may consider doing the same in the form of coins or jewellery, as is particularly popular in China or the United States.
Seeking to analyse gold investment trends in European countries further, City Index utilised data from the World Gold Council to reveal which countries had the biggest increase in gold reserves in the last decade.
The results:
|
Country |
Last Year End 13 |
Last Year End 22 |
% increase 2013-2022 |
|
Hungary |
3.08 |
94.49 |
2967.86% |
|
Poland |
102.92 |
228.67 |
122.18% |
|
Ireland |
6 |
12.04 |
100.67% |
|
Czechia |
10.85 |
11.96 |
10.23% |
|
Greece |
112.16 |
114.24 |
1.85% |
|
France |
2,435.38 |
2,436.75 |
0.06% |
|
Portugal |
382.48 |
382.57 |
0.02% |
|
United Kingdom |
310.25 |
310.29 |
0.01% |
Hungary’s gold holdings have increased by almost 3000%
Gold reserves in Hungary averaged 3.08 tonnes from 2013 until 2017, before reaching an all-time high of 94.49 tonnes in 2021, the largest purchase by a Sovereign leader since Polan
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The nation’s gold:
Central banks often acquire gold as part of their strategy to diversify their reserves, a move aimed at spreading risk. Gold is primarily a safety net, serving as a reliable hedge against inflation in times of crisis or financial distress.
Hungary confronted the global crises of the 2020s while holding substantial gold reserves, and the subsequent upsurge in the international gold price post-2020 has further elevated the MNB’s gold reserves.
Matt Weller adds: “The MNB first decided to significantly increase the gold reserve in 2018, based on long-term national and economic strategic considerations. Hungary’s significant increase in gold holdings in the last decade is likely an attempt to diversify its foreign reserves, a move that is consistent with its broader strategic goals. This trend is part of a larger global shift in which countries are increasingly looking to reduce their reliance on the US dollar, and we expect this trend to continue as geopolitical tensions persist.”
And this is another reason the globalists hate Hungary: Having gold reserves frees a country from the jackboot of the likes of the I.M.F. and others. Such a country is much more difficult to control economically, thus also politically. The switch from the gold standard to the fiat currency is one of the biggest and most dangerous scams ever perpetrated on the mankind. I wish more countries would roll things back and regain their freedom from the financialized economies they’ve been railroaded into.