Banks Buying Up Gold and Silver

Above, 2022 American Silver Eagle reverse. Photo by Armand Vaquer.

Even before the current bank crisis, I have been buying silver bullion coins over the past several months. 

Generally, I buy what I like (my favorite is Morgan silver dollars). Silver is a lot more affordable than gold, which is around $1,985/toz. Silver is about $22.59/toz today.

It appears that I am not the only one buying precious metals. 

According to the Gateway Pundit, central banks are also buying precious metals. As the following article's title states, they're "buying everything in sight."

They begin with:

The ongoing banking crisis has exposed flaws in the various financial systems governing western capitalism in the Biden era. While companies like BlackRock as well as the Biden-Harris regime pushed companies, financial advisors, and individual investors toward “woke” ESG purchases, their cronies at central banks have been busy buying up physical precious metals.

Gold and silver in particular have been hot.

In fact, the bank runs of recent weeks had been quietly preceded by “vault runs” with physical precious metals being moved out of the Comex system. Now that the cat appears to be out of the bag, central bankers are ramping up purchases of physical precious metals even more.

To read the full article, go here.