Tag Archives: special drawing rights

China Finally Reveals Gold Holdings

After six years, China finally revealed its “total” gold hoard today in a statement issued by the PBOC (People’s Bank of China). The grand total? 1,658 metric tons, placing the country in 5th place worldwide. It’s an increase of more … Continue reading

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Bank of China (BoC) is First Chinese Bank to Join Gold Fix

The London Bullion Market Association has announced that the Bank of China has joined Goldman Sachs, UBS, Barclays, HSBC, Bank of Nova Scotia, Societe Generale, and JP Morgan as the first Asian bank to participate in the new daily gold … Continue reading

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Another Domino: Denmark’s Krone is Collapsing

Each day more pressure builds to end the euro. The Danish Krone is crumbling this morning after a statement made yesterday by the head of Denmark’s Economic Council, Hans Jorgen Whitta-Jacobsen. He said that the country would use “capital controls” if necessary … Continue reading

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