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Saturday, February 6, 2016

"Real Change" - Canada sells 43.3% of its official gold reserves.

"Real Change" - Canada sells 43.3% of its official gold reserves. (pennyminingstocks).

According to the IMF (, Canada sold 1.3 tonnes of gold reserves (43.3% of its gold reserves) in January 2016.
Update: It seems the sale happened in December 2015. (See pictures below).
As of January 2016 Canada had 3.0 tonnes of Gold reserves and as of February 2016 only 1.7 tonnes.
Canada sold most of its gold in the 1990s with UK at the lowest price possible. Canada had 1,023 tonnes of gold reserves in 1965 the highest level recorded in its history.

Canada sold off half of its central bank gold holdings by 1985 down to 500 tonnes and then was a major participant in the western central bank collusion scheme to suppress the price of gold and sold gold at fire sale prices all through the 1990s up to 2002.

HT and source:


1 comment:

  1. I saw a financial reporter once try and justify a recent wild swing in the price of gold. She said that Gold wasn't BACKED BY ANYTHING ... unlike the US DOLLAR that's backed by the gvmnt.

    Justin musta watched that interview.


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