By Jan Nieuwenhuijs of Gainesville Coins
The Polish central bank has bought roughly 300 tonnes of gold in recent years to bring its gold to GDP ratio in line with the average in the eurozone. For medium and large economies in the eurozone, to which Poland might be included in the future, an equal monetary gold to GDP ratio is a covert requirement for nations to be prepared for a shift to a new gold standard. Based on these requirements I expect Poland to buy an additional 130 tonnes of gold.
Introduction
For those that don’t know, the idea in the European Union (EU) is that eventually all countries adopt the euro and become part of the eurozone. At the time of writing the EU counts 27 countries, of which 20 form the eurozone. When the remaining 7 countries will introduce the euro is unknown.
Within the EU most notably Poland—but also Hungary—has been a large buyer of gold in the past years. Poland and Hungary are not yet included in the eurozone. After my publications “Europe Has Been Preparing a Global Gold Standard Since the 1970s. Part 2” and “Dutch Central Bank Admits It Has Prepared for a New Gold Standard” it’s irrefutable that there are secret agreements…
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