O Canada, Where Art Thou Gold?

August 30, 2018

 

 

 

 

For all its millennia as the world's most valuable/ useful/ rarest precious metal, Canada has seen fit to part with most of it store of gold. While the U.S., China, & Russia appear locked in an arms race to to secure the most physical gold, Canada, one of the world's largest holders in 1965,  was down to its last 77 ounces in 2016. Does anyone know the strategy behind this philosophy? Are they not convinced of the coming economic cataclysm that requires all sound financial entities to hold gold? The loony hasn't missed it- Canada abandoned the gold standard in 1929. Perhaps they're quitting their day jobs to go all in on cryptocurrency, but that's just... speculation. 

 

Our new friends at the Gold Telegraph try to help us makes sense of this strategy. Like the gal in your fantasy football league who attempts the Zero-RB strategy, they don't think it ends well. 

 

https://twitter.com/GoldTelegraph_/status/1034489427278483456

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