- Central bank governor has “dream†for every citizen to own at least 100 grams of gold bullion
- Governor of Central Bank of Kyrgyzstan said the central bank had sold around 140 kilos of gold bullion to the domestic population already
- Central Asian country’s central bank continues to diversify into gold bullion
- “Gold can be stored for a long time … doesn’t lose its value for the population as a means of savingsâ€
- “I’ll try to turn the dream into reality faster…â€
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The Governor of the Central bank of Kyrgyzstan has told Bloomberg News in an interview that it is his “dream†for every citizen in his country to own at least 100 grams (3.5 ounces) of gold as a way to protect their savings.
Diversifying one’s savings so that they are not solely held in fiat paper or electronic currencies in frequently vulnerable banks in a vulnerable banking and financial system is prudent advice in these uncertain times.
Indeed, there is a strong case to be made that the policies of most central banks in recent years have led to a massive debt bubble and the risk of another financial crisis, currency wars and currency debasement on a grand scale.
Hence, it was very refreshing to hear the actual governor of a central bank passionately advocate and proactively helping his fellow citizens to protect their savings by diversifying and having an allocation to physical gold.
From Bloomberg:
One of the first post-Soviet republics to adopt a new currency and let it trade freely, Kyrgyzstan’s central bank wants every citizen to diversify into gold. Governor Tolkunbek Abdygulov says his “dream†is for every one of the 6 million citizens to own at least 100 grams (3.5 ounces) of the precious metal, the Central Asian country’s biggest export.
“Gold can be stored for a long time and, despite the price fluctuations on international markets, it doesn’t lose its value for the population as a means of savings,†he said in an interview. “I’ll try to turn the dream into reality faster.â€
