Canada bets the farm on paper currency
Mar 05, 2016
The Canadian government has sold all but 77 OUNCES of its gold in order to hold reserve currencies for foreign exchange. They look at the manipulated price of gold and believe it will remain at these low levels long term. In other words, Canada is poorly positioned for the new asset backed system (gold standard) that is being set up by the kings of the east.
The US government is no better off, of course, though it claims to have more than 8,000 TONS of gold. There is evidence that this gold has either been sold off already or has been changed to gold-plated tungsten. The difference between the US and Canada is honest reporting.
The government of Canada has wound down its gold reserves to basically nothing after a multi-year strategy of selling them off in favour of hoarding other countries' currencies instead.