Bank of Korea ‘Under Pressure’ to Boost Gold Holdings!

• The wholesale change in attitude by central banks toward gold has started. It has begun in Russia and Asia. Only the western Illuminist central bank cartel is still driving the price of gold down. They have a hidden agenda and aren’t that dumb. Their goal is to collapse all fiat currencies and ‘persuade’ the world to accept their One World Currency and Global Central Bank. When this One World Currency is introduced, I am 90% sure they will back it with hard assets like gold and commodities: oil, wheat…etc.
   
• What the western Illuminist cabal has done is: sell the gold belonging to the sheeple, thus depressing the price and quietly buy them up. This is simply the transferring of public wealth into private Illuminati hands. Do not be taken for a ride. Gold and silver are the real currencies of these Illuminists. You don’t seriously believe they are deceived by their own fiat currencies toilet paper machinations do you? When they are ready to pull the plug, you will see the sheeple holding the bag of useless fiat currencies and the Illuminati holding the gold. Remember the golden rule: He who has the gold makes the rules!
   
  Bank of Korea `Under Pressure’ to Boost Gold Holdings, Shinhan’s Oh Says
  The Bank of Korea, which has shunned adding gold to foreign-exchange reserves, is “under pressure” to consider purchases as the global economy worsens and the price advances, Shinhan BNP Paribas Asset Management Co. said.
   
  “Given that central banks in India, Russia and China have bought gold for defense, the Bank of Korea can’t help but feel under pressure to consider purchases for diversification,” said Oh Kyu Chan, Seoul-based head of the overseas fund of funds team at Shinhan BNP, which operates Korea’s biggest gold fund. Kang Sung Kyung, a senior official at the bank’s reserve-management department, had no comment today on plans for gold purchases.
   
  Gold is trading close to a record as signs the global recovery is sputtering prompt investors to seek to preserve their wealth. Gold “offers little value” and “isn’t the trend,” Lee Eung Baek said last year when he was head of the bank’s reserve-management unit. The Bank of Korea’s holdings rank 56th worldwide, according to the World Gold Council.
   
  “The global economy is taking a turn for the worse,” Oh said yesterday in an interview. “The declining values of the dollar and the euro, coupled with an economic downturn, mean the Bank of Korea should find other alternatives to invest. There are not many options,” Oh said, without forecasting gold prices.
    …..
  Foreign-Exchange Reserves
  South Korea’s foreign-exchange reserves — the world’s sixth-largest after China, Japan, Russia, Taiwan and India — rose to a record $286 billion in July. The Asian nation holds 14.4 metric tons of gold, equivalent to about 0.03 percent of total reserves, according to figures from the Bank of Korea.
   
  The World Gold Council, a producer-funded lobby group, estimates that as of June 2010, South Korea’s gold holdings were the smallest in percentage terms of any of the top 100 holders apart from Hong Kong’s and Canada’s.
     …
  Russian Holdings
  Bank Rossii, Russia’s central bank, said on Aug. 20 that it added 500,000 ounces last month, increasing its stockpile to 23.3 million ounces. That followed last year’s purchases by India, Mauritius and Sri Lanka. China, the world’s biggest gold producer, said on Aug. 3 it will relax bullion-trading rules.

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