The Canadian government has decided selling nearly half of its gold reserves is a great idea. Apparently precious metals aren’t worthy assets. From 3 tonnes in late 2015 to a mere 0.62 tonnes this month, the amount of gold in Canada’s portfolio stands at 0.1 per cent. The rest is in paper like foreign currency deposits and bonds. Compared to the United States, which holds 8,133 tones of gold, Canada is sinking in the water.
Sources:
https://econsophism.files.wordpress.com/2013/03/2008-crash-plot1.png
http://www.huffingtonpost.ca/2012/04/30/canada-bank-bailout_n_1466219.html
http://www.cnbc.com/2015/02/12/iceland-convicts-bad-bankers-and-says-other-nations-can-act.html
http://www.npri.org/imgLib/20150519_Taxes.jpg
http://globalnews.ca/news/2508940/canada-sells-nearly-half-of-all-its-gold-reserves/?sf20706041=1
https://en.wikipedia.org/wiki/Nixon_Shock
http://www.wsj.com/articles/SB10001424053111904007304576494073418802358
http://pressfortruth.ca/top-stories/canada-looks-implement-negative-interest-rates/
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