FEARS GROW OF EURO CRISIS : Prompts stockpiling of gold

August 13, 2015

EUROPE  -  Investors snapped up gold bars and coins at a rapid pace in the second quarter as turmoil in Greece threatened to push the country out of the eurozone. The World Gold Council (WGC) said demand in Europe for the precious metal rose sharply in the three months to June compared with the same quarter last year amid rapid buying of bullion, even as global demand fell by 12pc to a six-year low of 915 tonnes. The increase in Europe was led by Germany, where sales of bars and coins rose 24pc to 24.1 tonnes in the second quarter. Demand in Austria and Switzerland also rose sharply, according to the WGC's quarterly trends report. The report showed that demand for gold remained high among central banks, which were net purchasers for an 18th straight month in June. Russia's central bank continued to lead the way – feeding its "voracious appetite" with net purchases of 36.8 tonnes during the quarter. This brought its gold reserves to 1,275 tonnes, 13pc share of Russia's total reserves.

 

REPORT : Daily Telegraph  ( August 13 , 2015 )

 

 

PROPHECY INSIGHTS - The Russian economy is suffering from its worst recession in six years following a halving of oil prices since last July and Western sanctions triggered by the country's annexation of Crimea. The government has tripled its gold stocks in the last decade, which could provide Vladimir Putin, Russia's president, with ammunition to offset the sharp declines in the rouble. Russia has been amassing as much gold as possible, in a bid to outmanoeuvre its enemies in a silent economic war to hold onto its independence and further project its status. Economically though Russia is in a real mess. The pace of the decline, which doubled from the 2.2pc in the first part of the year, is the sharpest fall in economic output in Russia since the height of the global financial crisis in 2009.  We know this will act on pressure for Russia to act – to take a spoil…

 

EZEKIEL 38 v 11-12  -  " I will attack a peaceful and unsuspecting people—all of them living without walls and without gates and bars.  I will plunder and loot and turn my hand against the resettled ruins and the people gathered from the nations, rich in livestock and goods, living at the centre of the land.”

 

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