Tuesday, March 13, 2018

Is Hungary preparing for the end of the dollar system and an eventual return to gold backed money or trade?

Last week, Hungary's central bank ordered its gold reserves to be repatriated from London as the Eastern European power moves further and further away from EU control.

Already at odds with Brussels over forced immigration schemes, this move by Hungary compliments moves already made by Germany and Holland to have their gold repatriated from London and New York vaults.

The leadership of the Hungarian National Bank (MNB) has decided to bring back home Hungary’s gold reserves. Up to now, 100,000 ounces (3 tons) of the precious metal were stored in London, which is in total worth some 33 billion forint ($130 million) at current gold prices
The decision seems to be in line with international trends as storage of gold reserves out of the country is now considered risky by more and more central banks. AustrianGerman, and Dutch central banks are among those who have recently decided to repatriate their gold reserves. According to MNB, this may also further strengthen market confidence towards Hungary. – Gold Broker
Interestingly as well, it was only a few years ago that Hungary exited from the Rothschild dominated central banking cartel and sought to regain control over issuance of their own currency.  And as only an ancillary member of the EU, the opportunity to shift towards the East and the growing Eurasian and Asian trade partnerships means that Hungary's gold repatriation may be a vital second step in one day soon disconnecting completely from dollar hegemony. 


They only have 3 tons of gold. A gold backed currency? You must be kidding.

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