Buy Gold?FRANKFURT, Germany (AP) — The European Central Bank says it and 21 national central banks in Europe are letting an agreement regulating gold sales expire, saying the deal struck two decades ago to stabilize the market for the precious metal is no longer needed.

The ECB said Friday that the fourth Central Bank Gold Agreement would not be renewed when it expires Sept. 26.

The first such agreement was signed in 1999 amid concerns about the impact of uncoordinated sales by central banks from reserves mostly concentrated in rich European and North American countries as a legacy of the days when currencies were pegged to gold. Central banks agreed to coordinate transactions to keep the price from swinging excessively.

The ECB said that the central banks that are part of the agreement have not sold significant amounts of gold for nearly a decade, eliminating the need for the deal.

At the end of 2018, central banks collectively held around 33,200 tons of gold, about one fifth of the gold ever mined, according to the World Gold Council. Those holdings mean central banks have immense pricing power in markets. The first agreement, also known as the Washington Gold Agreement, was preceded by abrupt swings in the gold price.

Signed during the annual meeting of the International Monetary Fund, that first deal placed a limit on the amount of gold that signatories could collectively sell in any one year. Other major gold holders, including the U.S., Japan, Australia, the IMF and the Bank for International Settlements either informally associated themselves with the agreement or said at other times they would not sell gold. Prices rose. Gold prices have increased from $287.80 per ounce at the start of 1999 to $1,146.10 per ounce on Thursday.

Sales from the group of central banks reached 500 tons in 2005 but have since fallen sharply.

>>7227047

Corn ready for to be cut

>>7227047

Corn is ready (for to) be cut……42, Clinton 42nd president

>>7227345

Gold Window opened back up. Central banks allowing "Gold deal" to run out September 26. FEDS will lower interest rates

>>7227384

You still thinking in terms of past. Markets could never predict our POTUS, Gold is a great investment and will be more so, set up….then BOOM when Trump derails the FED. Central banks aware of this is why allowing Gold Deal to lapse, they themselves will buy.

>>7227418 Trump is not playing,he is fixing…Making America Greater. Trump: I don't necessarily agree with raising rates Trump: I don't necessarily agree with raising rates

1:41 PM ET Thu, 19 July 2018 | 01:35

President Donald Trump has multiple reasons as to why he should take control of the Federal Reserve. He will do so both because he can and because his broader policies argue that he should do so. The president is anti-overregulating American industry. The Fed is a leader in pushing stringent regulation on the nation. By raising interest rates and stopping the growth in the money supply it stands in the way of further growth in the American economy.

First, He Can

The Board of Governors of the Federal Reserve is required to have seven members. It has three. Two of the current governors were put into their position by President Trump. Two more have been nominated by the president and are awaiting confirmation by the Senate. After these two are put on the Fed’s board, the president will then nominate two more to follow them. In essence, it is possible that six of the seven Board members will be put in place by Trump.

The Federal Open Market Committee has 12 members and sets the nation’s monetary policy. Seven of the 12 are the members of the Board of Governors. Five additional are Federal Reserve district bank presidents. Other than the head of the Fed bank in New York, who was nominated by the president, the other four can only take their positions as district bank presidents if the board in Washington agrees to their hiring. One of these, the Fed Bank president in Minneapolis, Neel Kashkari, is already arguing for no further rate increases.

>>7227439

http://kreds93.dk/

https://mofibo.com/dk/da/books/8813-Ninety-Three:It is 1793 in France-the year of the guillotine. Already, Louis XVI has been sentenced to the scaffold, and terror reigns. Ideals topple in the face of political necessity, alliances founder, and intrigue is a way of life. The architects of the Revolution-Marat, Danton, and Robespierre-have set up an embryo parliament called the Convention, designed to stem social chaos. As Republican troops engage in bloody battle with counter-revolutionaries, a peasant woman strives simply to protect her three children. The characters of Ninety-Three define the French Revolution, and history hangs on their actions. As they battle for their own future, the future of a large part of the world can be seen to sway in the balance. Hugo's epic masterpiece captures brilliantly the moment that shaped the destiny not only of France but of all European monarchy.