Why are central banks hoarding gold? | Counting the Cost

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Al Jazeera English

Al Jazeera English

10 ай бұрын

Gold is precious and often serves as a safe haven; it is a hedge against economic uncertainty and an investment favoured for its stability.
Traders, investors and governments have often looked to it in times of market volatility and it seems the world is looking to gold again.
2022 was an exceptional year for the yellow metal: Demand reached its highest level in more than a decade, and central banks globally bought a staggering $70bn worth of gold - that's the most in 73 years.
Elsewhere, Elon Musk tells employees fired for posts on X that he's got their backs.
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Пікірлер: 131
@cfwin1776
@cfwin1776 10 ай бұрын
Even Germany’s requests to audit its gold in the US were denied. 😂 “We audit periodically. Just trust us”. 😂
@tiffanylaserna1288
@tiffanylaserna1288 10 ай бұрын
In 2012. They have audited their gold reserves in New York yearly without issues since then.
@FajarSumirat
@FajarSumirat 9 ай бұрын
LoL
@renemartin5729
@renemartin5729 10 ай бұрын
Despite a hot war in Europe and many countries buying gold, it closed yesterday at $1,914.10 per ounce
@hhwin2198
@hhwin2198 10 ай бұрын
It’s in the consolidating phase before making a upside move. Triple top in chart shows that.
@Liboch
@Liboch 10 ай бұрын
Once the fed reduces its rate, the gold price would shoot up
@renemartin5729
@renemartin5729 10 ай бұрын
@@Liboch During the 0% Fed rate gold didn't go up. In fact, gold doesn't go up no matter what happens.
@renemartin5729
@renemartin5729 10 ай бұрын
@@hhwin2198 That's what Peter SChiff said 13 years ago when he promised $5,000 gold "any time now".
@Liboch
@Liboch 10 ай бұрын
@@renemartin5729 no central was buying gold then
@jeffee1933
@jeffee1933 9 ай бұрын
Because fiat currency is just a place holder for real money which is PHYSICAL gold and silver.
@reefread1234
@reefread1234 4 ай бұрын
First no, fiat currency is backed by nothing bitcoin at this point is worth more literally by thousands
@FlexOnMars
@FlexOnMars 10 ай бұрын
Another excellent episode. I love Counting the Cost - great work team! Regarding the Pakistan textile industry woes - I do worry about the theme of 'race to the bottom', for example the minimum wage comparison to Bangadelsh - its in this that local issues are connected to those in communities globally, for which this century require different approaches to that of the past - the IMF for example could do well to reconfigure its approach to strengthen civil society principles rather than be purely market-driven..... OK back to my life, have a nice day anyone reading this.
@SuperGreatSphinx
@SuperGreatSphinx 10 ай бұрын
Actually, it is possible to turn base metals into gold through scientific means. However, the cost of doing so would outweigh the value of the gold. Also, the gold would be radioactive...
@thebangkokconnection4080
@thebangkokconnection4080 10 ай бұрын
I remember when gold dropped to $400 an ounce over night. Manipulated prices
@godzillamothra5983
@godzillamothra5983 10 ай бұрын
what goes around, comes around. It is about time to abandon dollar, it is just a green toilet paper
@bubavaal4888
@bubavaal4888 10 ай бұрын
😂😂😂😂 Dollar the biggest ponsi scammed ever it's a real fraud 😂😂😂
@thebangkokconnection4080
@thebangkokconnection4080 10 ай бұрын
Also the greatest stability.
@roro4787
@roro4787 10 ай бұрын
@@thebangkokconnection4080 lol noooooooo, that means you are brain washed lol
@aberba
@aberba 10 ай бұрын
​@@thebangkokconnection4080Stability? Dollars are rarely stable...it only flavors USA oligarchs. Every country gets inflation exported to them.
@pavelsmith2267
@pavelsmith2267 9 ай бұрын
I would like to see a full and complete real time audit of all social media platforms.
@throughput6674
@throughput6674 10 ай бұрын
"legacy Gold holdings" LOL 4:06 You mean they swapped their Gold for paper...
@kevinburke9940
@kevinburke9940 10 ай бұрын
What is anything worth? As much as the next guy is prepared to pay! 😅
@TheYogesh7777
@TheYogesh7777 10 ай бұрын
LOOK AT NFT. SOME PAY MILLIONS AND SOME PAY 0.
@paladro
@paladro 10 ай бұрын
this is it in a nutshell...
@aberba
@aberba 10 ай бұрын
I think X has a much bigger vision. Something not a lot of people are able to see until it happens. I should add that experts are given way too much credit
@LUM-VOX
@LUM-VOX 10 ай бұрын
None of these commentators or guests on the show have built a billion dollar empire not even a hundred million dollar empire. It’s all talks, cynicism, and negativity. Elon has done it. He will make X work. Wish him well, you naysayers
@jonathaneffemey944
@jonathaneffemey944 10 ай бұрын
Thanks for posting.
@user-ts9nq5zw2j
@user-ts9nq5zw2j 9 ай бұрын
That is one of my dreams, to own a bank bar of 999.9 gold. Mike from Japan
@pavelsmith2267
@pavelsmith2267 9 ай бұрын
Gold is a premium form of fuel for artificial intelligence. The mixing of base elements with rare and precious elements is the compound issue. The market currently fuels the very problem which the majority of populace wishes to negate.
@baddbeliever
@baddbeliever 10 ай бұрын
for long term liquidity gold is a good choice but as far as pricing...its as steady as the economic systems in place are. you only saw influxes when there was an uncertainty about successes or failures during big wars. today, you can't make a direct correlation (to a degree yes) between the value of the USD and gold prices. it hung steadily and is cheaper today than it was in 2007 inflation adjusted.
@valkry007
@valkry007 2 ай бұрын
I have to question your statement that the U.S. has the biggest central reserve of gold, it is seriously questioned whether or not the U.S. has any gold reserves any more as a physical audit has not been done for over thirty years, and nobody as been allowed into the gold vaults to inspect the actual "reserves" to prove they still exist.
@WellOilBeefHooked
@WellOilBeefHooked 10 ай бұрын
He has got rid of Twitter. Time to stop crying now. He has launched something completely new. It is called X. X will become huge.
@allysoobratty7565
@allysoobratty7565 10 ай бұрын
Gold ....
@joem0088
@joem0088 10 ай бұрын
The world's central banks bough 70B$ of gold is a lot ? That's nothing. The US will pay 1 tillion 200 billion in debt service just for 2023. which is almost 3 time it's gold reservce of 440B$. 70B$ worth of gold wouldn't pay 1 month of US debt service. 🤔
@petrofx
@petrofx 10 ай бұрын
Now do the math on a gold price of 25k per ounce and then apply it to all the CB gold being stored. Let me know when it clicks.
@joem0088
@joem0088 10 ай бұрын
@@petrofx 25k/oz ? When ? 2080 ?
@petrofx
@petrofx 10 ай бұрын
@joem0088 when or if the global cabal decides to use gold cover the debt in order to restart the fiat based monetary system. One way or the other, the fiat system will be restarted to continue global systems. How and when are the only questions. Your job and mine is to cover our bases in picking the winning horse in that race.
@elimlinrr6898
@elimlinrr6898 10 ай бұрын
Gold is element 79 and its symbol is Au in the periodic table. Unlike diamond, you cannot manufacture gold. Its finite presence on planet earth makes it suitable to be used as an international currency unlike the USD or Euros and all other nations' currencies which are all fiat currencies.
@reginaerekson9139
@reginaerekson9139 10 ай бұрын
13:10 much like missing his deadlines - Ask his shareholders. He was going to fight and now he needs an mri. The bullshit offer is not legally binding. How’s his Tesla Employer trailer rental/housing going?
@southerncomfort2792
@southerncomfort2792 10 ай бұрын
They know what is coming…
@LugendoEdward-hu7qs
@LugendoEdward-hu7qs 10 ай бұрын
Uganda has gold but people don't enjoy their gold
@reginaerekson9139
@reginaerekson9139 10 ай бұрын
1:05 so Russia/Wagner are in Africa mining. Gold is what secures the US dollar. I can’t eat it, but you can use it in tech such as The James Webb Telescope. It’s pretty and heavy - maybe use flowers or candy as currency instead? I will give you some chocolates if you build my house - flowers are the bonus 😂
@mandarinandthetenrings2201
@mandarinandthetenrings2201 10 ай бұрын
Yea, I can see you don't know anything about currency. Central Banks buy gold as a hedge against Inflation. So if you Lebanon with 460% Inflation you want some gold. But if your America where you Inflation is only 3.5% its not a good investment. So depends on the what you nations is going through. Now China "Deflation" in situations such that gold is useless to help China's Central bank.
@chrissharkey9644
@chrissharkey9644 10 ай бұрын
You can’t eat paper either
@yadrani4265
@yadrani4265 10 ай бұрын
It is an old and true statement Gold never Old Gold never die Gold never loose his worth cost. And last Old is gold. Because Gold never loose it's shinning
@mandarinandthetenrings2201
@mandarinandthetenrings2201 10 ай бұрын
You be careful "Gold" is used by Central Banks and a hedge against Inflation. But what if your China where you are having "Deflation" you have problem "Gold" can't help you.
@paololuckyluke2854
@paololuckyluke2854 10 ай бұрын
One day a film will be made of Musk’s life, and it will be entitled something like ‘Citizen X’.
@Crypto_Bird
@Crypto_Bird 10 ай бұрын
I rather have Bitcoin “Digital gold”there is finite amount unlike traditional gold they just keep finding more. As far as Btc isn’t even enough bitcoin for every millionaire on the planet.
@TaiwanChinatogether
@TaiwanChinatogether 10 ай бұрын
You see the trees, Elon musk see the forest. What was your business portfolio. Lol
@davidevans6618
@davidevans6618 10 ай бұрын
I think it's lol, I Believe lol. Beliefs are like a bus stop somewhere between fact and fiction and many people never leave the bus stop. Meaning they remain ignorant. I never met a smart slave...ever.
@oneshothunter9877
@oneshothunter9877 10 ай бұрын
👍😁😁😁
@mindyourbeezwax860
@mindyourbeezwax860 10 ай бұрын
Manipulating the price
@shaughn2011
@shaughn2011 10 ай бұрын
Its not Fiat money
@veritasfiles
@veritasfiles 7 ай бұрын
Since when did a "public square" have to only include accurate & non-violent views and information? That's crazy. Has no one heard of the concept of freedom of speech and conscience? You can hold views and speak views that I don't agree with and might be inaccurate. It's really okay. It's an integral and necessary part of living in a free society. It's like people have just forgotten this central and vital piece of being free.
@jondoe1622
@jondoe1622 10 ай бұрын
LOL... everybody's counting their guns in preparation for China's Leemans moment...
@coding7196
@coding7196 10 ай бұрын
The German lady spoke English really well.
@mikelsilva6220
@mikelsilva6220 10 ай бұрын
Elon Musk is the best - Free speech
@jonascoscom
@jonascoscom 10 ай бұрын
All stolen gold 😂
@clantralok
@clantralok 10 ай бұрын
Never bet against Elon
@roro4787
@roro4787 10 ай бұрын
US dollar = toilet paper
@mandarinandthetenrings2201
@mandarinandthetenrings2201 10 ай бұрын
Yes, yes, give me all your US dollars.
@SeeLasSee
@SeeLasSee 10 ай бұрын
Will you exchange your dollar bills for toilet paper? I’ll offer you the ultra premium brand best toilet paper.
@sonyjoseph5426
@sonyjoseph5426 10 ай бұрын
Not yet .. literally Venezuela's bolivar was worth less then toilet paper
@omyhaby1912
@omyhaby1912 10 ай бұрын
​@@SeeLasSeeis Your Toilet paper made up of dollars?
@oneshothunter9877
@oneshothunter9877 10 ай бұрын
I have toilet paper with Dudnald tRump printed on it. A gift from a friend. 😁😂😂
@user-lu8gz3qv2l
@user-lu8gz3qv2l 10 ай бұрын
sonra yığını çöpün sandığına
@pavelsmith2267
@pavelsmith2267 9 ай бұрын
Do you think that perhaps global warming has come and gone? We can safely resume our global journey back towards Normal? The Pandemic was and is not the largest spiritual road sign anyone has ever seen anywhere? My endless questions are both helpful and useless?
@rollmeister
@rollmeister 10 ай бұрын
her opinion does not matter
@jarrodyuki7081
@jarrodyuki7081 10 ай бұрын
japan willl retake the kurils sakhalin and vladivostok south korea willl take north kora.
@oneshothunter9877
@oneshothunter9877 10 ай бұрын
And China go North.
@KillingItForYears
@KillingItForYears 10 ай бұрын
Go Elon! 🤘
@allenaxp6259
@allenaxp6259 10 ай бұрын
Bitcoin is better to hoard. Cost less to store. Easier to move also.
@mahatmagaand
@mahatmagaand 10 ай бұрын
Quantum computer can bring in unlimited supply of bitcoin, potentially crashing Crypto
@catdaddy5192
@catdaddy5192 2 ай бұрын
Bitcoin is a ponzy scheme that will eventually collapse to zero.
@hayjonathanjh
@hayjonathanjh 10 ай бұрын
Because fiat is becoming worthless
@pavelsmith2267
@pavelsmith2267 9 ай бұрын
My Day1 Program makes people happier. My H.E.M.I. backs it up.
@Er.Sunil.Pedgaonkar
@Er.Sunil.Pedgaonkar 10 ай бұрын
No, there ought to be control over X by law & nations since it may create chaos, anarchy & violence in society if tweets are not sensored.People have emotions & sentiments to tweets -- Er. Sunil Pedgaonkar, India, Consulting Engineer, India
@giantarcsfora9279
@giantarcsfora9279 10 ай бұрын
will gold save us from climate change? Can I eat gold if there is starvation? Can I drink gold when there is no more clean water?
@jetly0090
@jetly0090 10 ай бұрын
There are a lot of other things in this world that you cannot eat or drink either, including your US dollar, your house, your car, your stocks, etc...
@giantarcsfora9279
@giantarcsfora9279 10 ай бұрын
@@jetly0090 house = shelter, car =transportation, money = ease of exchange, gold hidden in some vault = useless for centuries
@SeeLasSee
@SeeLasSee 10 ай бұрын
Mining gold is terrible for climate change. They excavate tons of rock to grind up for every ounce they produce.
@jetly0090
@jetly0090 10 ай бұрын
Gold = store of values, protect against inflation. It can also be use as jewelries, in dental, computer chips @@giantarcsfora9279
@omyhaby1912
@omyhaby1912 10 ай бұрын
​@@giantarcsfora9279Y'r Dvmb but I guess being Dvmb is a New Trend Nowdays
@Houthiandtheblowfish
@Houthiandtheblowfish 10 ай бұрын
let the bullshiters leave the platform
@oneshothunter9877
@oneshothunter9877 10 ай бұрын
The bullshit platform? 😁
@packageism
@packageism 10 ай бұрын
Better off holding digital gold bitcoin
@thebangkokconnection4080
@thebangkokconnection4080 10 ай бұрын
Bitcoin investors paying for free mined bitcoins, bubble on them set to burst as value determined by unknown source, not insured and millions stolen by hackers. Fools gold.
@earlhammond9810
@earlhammond9810 10 ай бұрын
one question. Do you really think Bitcoin will be around in 100 year? Bitcoin has an unknown expiration date. Something worth thinking about.
@betsy4619
@betsy4619 10 ай бұрын
The value of dollars is backed by gold.
@reefread1234
@reefread1234 4 ай бұрын
Not since the 70s
@RobRochon
@RobRochon 10 ай бұрын
lol..."most Americans are leaving twitter because of Elon Musk"?!?!? What a crock of propaganda BS. 50% of the US voted for Trump and it was conservatives were being censored...why would they decide to now leave? If anything they will come to the platform now if they hadn't before. You just outed yourselves by having this guest spew her nonsense.
@zurihksumugatchannel
@zurihksumugatchannel 10 ай бұрын
people are leaving X..irony is you're still part of it Frederika and your account are still active..doesn't seem to drive you out of X.
@DiandraStarShine
@DiandraStarShine 10 ай бұрын
@zurihkschannel6335 you're irrational, clueless and obviously, like Elon, a misogynist..and a stalker going out of the way to confirm Frederike has an active Twitter-X account?, wow!]. but that's all because you're not a real adult because REAL grownups understand why so many of us actual ADULTS haven't shuttered our old Twitter accounts instantly. that's the kind of thing impulsive, immature children and wannabe-adults do also, real grownups don't write, esp. whiny and hateful, hostile messages, to AJE guests in comment fields under AJE videos they happen to appear in..just ridiculous.
@jameswalton15
@jameswalton15 10 ай бұрын
also, saying it a publicity stunt, but talking about it for 12 minutes played into Elon's narrative. lol
@lighttheoryllc4337
@lighttheoryllc4337 10 ай бұрын
Because U.S.A. no pay its Debty 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
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