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Author Topic: Banks are dumping US Dollars and Buying Gold  (Read 170 times)
raidarksword
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April 09, 2023, 03:07:15 PM
 #21

This report is a good indications that people are now become wiser and putting good investments in a store value like GOLD and this leads to bitcoin adoption as well. As they got wiser they will find another store value assets to venture with like bitcoin and it has good significance towards providing good investments like bitcoin.

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April 09, 2023, 09:16:23 PM
 #22

Regular people are getting wiser on their financial management day by day. For sure they have realized that dollar is getting weaker and most of the basic needs are getting expensive. In the years that will come, their savings will be worth nothing if they'll let it sit there and rot. I don't knoe much about other countries but I am sure that those people who dump their dollars are planning ahead for their retirement, before they'd have limited options to only savings in the bank, but now that there are lots of access and information you can get through internet and web, they can expand their options to so many choices now.
Governments seemed to actually believe they could maintain people ignorant about the realities of the economy of the world forever, an impossible goal in a world which is interconnected and that allow us to know what happened at the other side of the world in a matter of seconds, and as such the people that understand the current economic model is nothing but a fraud are already taking countermeasures to protect themselves, and as time passes the more evident this will become.

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GeorgeJohn
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April 09, 2023, 10:05:50 PM
 #23

The trust level of US dollar started to climb down when they starts printing enormous amount of money in 2020 for covid crisis so now governments all over the world face inflation such as US so they are looking for the safest option and gold is one of the asset so there is no wonder if governments are increasing their gold reserves but did you notice something by the government? They are not encouraging investors to invest on gold and also increasing tax and duties for gold and jewellery to stop people accumulating it.
Right from time government have been investing with gold because of inflation until other investment asset comes up, do you know that bitcoin  would have been another good option to invest because of currency inflation, but due to government hates cryptocurrency none will like to use Bitcoin  as option for investment

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April 10, 2023, 09:35:12 AM
 #24

Banks, of course, want to make their business profitable, saving fiat including dollars will not get a large profit, but when saving gold, the opportunity for profit is very high because the price of gold continues to rise, it is only natural that currently many countries trade and use gold to replace dollars .


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