Poland evacuates its gold from London: why is this happening?
Before the start of World War II, Poland, for security reasons, decided to ship its gold to the UK. Then tens of tons of precious metal went to London. Since then, nothing has changed, tons of Polish gold continue to be under the scrutiny of Her Majesty.
However, in recent years, along with Russia, China and Turkey, Poland began to rapidly increase its gold reserves. Only in June 2019, the Polish Central Bank immediately bought 125 tons of yellow metal, which actually doubled its reserves. Moreover, almost the entire volume of gold continued to be outside the territory of Poland itself. It was decided to end this misunderstanding.
It is important to note here that Poland is far from alone in striving to evacuate its gold reserves from "friendly" countries. So, a few years ago, Germany returned almost half of its reserves from the United States and France to their homeland. Prior to this, the Netherlands implemented a similar operation. Next in line is Austria, which has already announced similar plans.
This, however, is not surprising. The United States is preparing for a world currency war, and gold in such conditions becomes the most valuable and justified asset.
However, in recent years, along with Russia, China and Turkey, Poland began to rapidly increase its gold reserves. Only in June 2019, the Polish Central Bank immediately bought 125 tons of yellow metal, which actually doubled its reserves. Moreover, almost the entire volume of gold continued to be outside the territory of Poland itself. It was decided to end this misunderstanding.
It is important to note here that Poland is far from alone in striving to evacuate its gold reserves from "friendly" countries. So, a few years ago, Germany returned almost half of its reserves from the United States and France to their homeland. Prior to this, the Netherlands implemented a similar operation. Next in line is Austria, which has already announced similar plans.
This, however, is not surprising. The United States is preparing for a world currency war, and gold in such conditions becomes the most valuable and justified asset.
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