Recently the Central Bank of Ireland joined the ranks of sovereign gold buyers, adding 2 tonnes of gold to its monetary gold reserves in 2 months, consisting of a tonne of gold bought in each of September and October 2021. While in relative terms, the actual quantity of gold added by the Irish central bank was quite small, in percentage terms it was very substantial, since in August Ireland only held 6 tonnes of gold (supposedly held at the Bank of England), and as of the end of October Ireland now holds 8 tonnes of gold, i.e. a 33% increase (and a significant number for those in the know). These latest monetary gold purchases by Ireland’s central bank are also notable because it’s not often that a central bank that is:
What sparked the Central Bank of Ireland to add to its monetary gold reserves is unclear, because like all Euro puppet central banks and BIS lackeys, the Irish central bank thinks that it does not need to be democratically accountable when it comes to monetary gold. On a Need to Know Basis – And you don’t need to know! When asked by Bloomberg’s reporter last week as to why the Bank had bought 2 tonnes of gold, a Central Bank of Ireland official replied that the Irish central bank’s gold transactions “are commercially sensitive and no further comment can be made at this time”. But why would an EU vassal central bank feel the need to say that buying a modicum of physical gold was ‘commercially sensitive’? Probably it’s what they’ve been told to say by the ECB or BIS, but beyond this maybe it’s because they want to the buy the ultimate monetary asset, gold, while hoping that no one will notice. But why would an EU vassal central bank feel the need to say that buying a modicum of physical gold was ‘commercially sensitive’? Probably it’s what they’ve been told to say by the ECB or BIS, but beyond this maybe it’s because they want to the buy the ultimate monetary asset, gold, while hoping that no one will notice. Ireland’s Gold Purchase Data Looking quickly at the data behind the latest gold buying by the Irish central bank, what can we see? Before the gold buying in September and October 2021, Ireland claimed to hold 193,693 fine troy ounces of gold. As the latest Central Bank of Ireland annual report for m2020 - 2021 states, this consist of. “Gold and gold receivables [in the form of] coin stocks held in the Central Bank, together with gold bars held at the Bank of England.”
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