Russia buys another 300,000 ounces of gold

I thought I was doing quite well with my steady acquisition of physical gold and silver (and by the way, if I have to write another email telling people the difference between physical metal and a piece of paper I will go nuts!).

Then I read that Russia had bought another 300,000 ounces of gold in April bringing their total reserves to 40.1 million ounces.

The Russian Central Bank clearly knows something. The news was still sinking in when news came in that China now has 200,000 people on a monthly gold savings scheme through their bank accounts.

THROUGH THEIR BANK ACCOUNT?

My bank wouldn’t know a gold coin from a chocolate one – and they certainly wouldn’t be able to sell me one, store one or swap one for their dirty folding fiat currency. Something very strange is going on here.

Why are central banks buying huge quantities of physical gold and how come the price hasn’t responded.

I to;d you recently that Goldman Sachs has a massive short position in silver. This sends a signal to the market that Sachs thinks the price will fall soon. Then we hear that Sachs have been buying enormous quantities of physical silver while the price is low. Hey, how clever is that? They’re the ones keeping the price down.

What does it all mean? We’re being kept in the dark ……

….. just saying.

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6 Comments

  • At £100 to double-you’re not really competing with large scale seasoned professionals.

    Once you go down the doubling numbers you begin to compete in effect with institutions and or Goverment policy etc(as that kind of continual doubling becomes an Intrest to the other 7 billion people and stated Goverment)

    As a result-after a handful of these ‘doubling’ moves…the ability and time and competing positions from other investors and said governments etc just make the ability a compounded hardness.

    Hopefully as we become more sophisticated we can enjoy these posts but realise they are like any other headline….attention seeking!

    • I’m afraid that none of that is even remotely true, Gerry. Remember, DYWTAM was written by not one, but two, multi-millionaires using these very techniques. I suspect that you’ve been ripped off in the past by the many “get rich quick schemes” that are out there. That’s a real shame. Having done all of the fourteen levels myself, (and I watch others do the same every week), I feel highly qualified to disagree with every single one of your comments. If you’re not rich now then you have to change your thinking if you want to make serious money. Here’s the thing; “If you keep doing what you’ve always done – you’ll keep getting what you’ve always got”. Stop and think about that for a minute. I don’t know if you live in a two million pound house but if you don’t, here you are telling someone who does that this won’t work. Really? The DYWTAM Programme is a genuine no-nonsense guide on how to become a millionaire – and absolutely anyone can do it.

  • Barry, is it only 10 issues of Double your way to a Million? A friend of mine who is interested wants to know, thanks.

  • hi barry i am interested in your horse racing course and your recommendation of using isiris,i understand kevin booth has resigned from isiris do you still recommend we use this company still thank you,and also i notice on your websitethat it is still dated 2017 .

    • Good question. I have not used the Isiris service recently. I had a brilliant 11 year run but eventually I got closed down by all the bookmakers. I guess that’s a real sign of success but it was fun to do and I actually miss it. I did not know that Kevin had actually retired but I understand that the results this year have been extremely good. Maybe regular readers who still use Isiris can update me on that one and let me know how they are doing.

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