Various countries withdraw gold from US, expected repeat 2008 financial crisis

The world economy is trying to cope with a hail of difficult conditions, such as the uncontrolled printing of money, trade wars, sanctions, increased interest rates, and a decrease in retail trade.

In addition, geopolitical tensions do not see signs of interruption; Syria hit by attacks by American, British and French missiles on 14 April sets a vivid example.

To bypass the possibility of economic deterioration or new financial crises, some major banks and governments are preparing for economic disasters in advance by saving “real money” before the crisis Turkey offers a fresh example.

According to gold mining chairman Keith Neumeyer, the main problem is that governments press a lot of money that is not provided by gold a tendency that in the near future is trying to depreciate gold.

He said gold is not concerned if we enter an inflationary or de-inflation period, because gold investments are justified according to each scenario, reports “Sputnik International” Transmission Periscope.

Continued printing of money could jeopardise the stability of the global economy and increase higher prices of gold, amid monetary factors and supply-related problems.

The global investment bank and management company Goldman Sachs have predicted the coming years will see a decline in global gold production.

The US Geological Survey, on the other hand, believes that with production rates at current levels, inland gold reserves will be eliminated by 2034.

In this way, speculations are numerous that combinations of all these factors will cause the price of gold to rise up to 2,000 or even 3,000 dollars per ounce in the near future.

The United States has 8,000 tonnes of gold, Germany's 3.000 tonnes, while Italy and France have 2.,500.

With $1.860 tonnes of gold worth 80 billion, Russia has exceeded China and ranks fifth in terms of gold reserves./Periscopi/