FOFOA: Your Own, Personal, Freegold - A must read
Today the total ECB reserve assets stand at 428 billion, including foreign currency reserves, IMF reserve positions, SDRs, foreign assets and, of course, gold! 428 billion Euros total. And the gold reserves now total 233 billion Euros. So in the past 10 years, through many liquidations, that 15% has now grown to 54.4% of the total reserves!!
So let's see. Just in the past quarter of 2009 those ECB gold reserves have swollen from 54.4% to 55.6%!
Can you see what is happening? Can you see what will happen when gold heads for the moon? Can you see how "dollar reserves" are becoming less and less significant at exactly the same time as physical gold is taking over the balance sheet?
This is why China is buying gold. Very soon China's balance sheet will be swelling in size even as it writes off its remaining dollar holdings. They will become worthless. Even so, their balance sheet will EXPLODE in real value!
Now think about your personal balance sheet. Think about your savings. Would you like to lever your savings so that your purchasing power is preserved even as the dollar is devalued? Or would you rather lever your savings to EXPLODE in purchasing power as gold explodes in value?