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Preparing for the Coming Storm: Poland Repatriates 100 Tonnes of Gold from Bank of England - Nathan McDonald (28/11/2019)

Preparing for the Coming Storm: Poland Repatriates 100 Tonnes of Gold from Bank of England - Nathan McDonald (28/11/2019)
By Nathan McDonald 17 days ago 44018 Views No comments

November 28, 2019

It was just last week that I highlighted how a new Central Bank, albeit much smaller than some of the current key players, has entered into the precious metals market, drastically increasing their gold reserves in the process.


This new player was Serbia, who stated that they are hoping to increase their gold reserves in the face of mounting geopolitical uncertainty. Uncertainty that seems to only be getting worse, not better with each passing day.


In just one month, Serbia increased their gold reserves by 1/3, by adding 9 tonnes of gold in that short window of time. This may not seem like a lot compared to some of the largest gold players, but to Serbia, it was a massive acquirement and is likely just the beginning.


Not to be outdone, one of the rising stars in the precious metals space, Poland has announced another move that has surprised many in the bullion markets, while others simply nod their heads, acknowledging the trend that is now solidifying within the physical bullion markets.


The Central Bank’s governor, Adam Glapinski, announced on Monday that Poland had repatriated 100 tonnes of its gold from the Bank of England, while stating the following;

"The gold symbolizes the strength of the country,”

Also, Glapinski stated that Poland could sell these gold reserves for "billions" in profit, but had no intentions of doing so, as they are looking to increase their position in the yellow metal.

The Central Bank of Poland has also stated that they will be repatriating more gold, of which roughly half is still held by the Central Bank of England, as they deem needed.

Taking to twitter, Poland showcased their recently returned wealth in a photo op;


The previously mentioned statement, indicating that the gold they repatriated from the UK symbolizes the strength of the country, is one that bears great mention. It is a lesson that many in the financial industry have sadly forgotten, as gold has been a bulwark in times of great unrest and geopolitical uncertainty, times such as those that we now find ourselves living in.

Poland, along with Russia, China, Hungary, India, Serbia and many others are not ignorant of this fact and it is exactly why so many of these Central Banks are gobbling up every ounce of gold bullion that they can get their hands on, while tossing away as many fiat US dollars as they can.

They know that in the end, when the "you know what" hits the fan, that it is gold bullion that will offer protection, not fiat money, as it has been since gold's inception into mankind's financial history, a history that spans over 10,000 years.

Unfortunately, these risks do indeed appear to be growing once again, as the situation with the China / US trade wars once again took a turn for the worse, after this week's event saw the United States sign the "Hong Kong Democracy Bill ". A move that has "infuriated" Chinese officials and one that they vow will cause retaliation, although they have not stated what that retaliation will be.

Additionally, with President Trump completely bogged down with the Impeachment circus show, talks with North Korea have all but evaporated, as the administration is too focused on dealing with the battering ram at their door.

This has caused North Korea to once again lash out as they feel they are being ignored, firing numerous test missiles over the last few days , raising tensions with neighboring countries and the world at large.

With all of the current nonsense unfolding, more Central Banks around the world, especially those in the West should be following the example being set forth by net gold positive Central Banks, such as those in Russia, China, Poland and others.

Gold is needed now. Gold will be needed in the future. It is the ultimate insurance policy and individuals who act before it is needed will be protected from the coming storm.

Prepare accordingly. Keep stacking.

About Sprott Money

Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.



Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world. He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.




The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.You may copy, link to or quote from the above for your use only, provided that proper attribution to the source and author is given and you do not modify the content. Click Here to read our Article Syndication Policy.

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