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Old 01-10-2019, 09:39 AM   #1
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Tanzania to create a gold reserve

Quote :
Tanzanian President John Magufuli on Wednesday ordered the central bank to create a gold reserve, as he urged the government to better control mineral exports from the country, Africa's fourth largest gold producer.

"We should start buying gold, the central bank must invest in this. We must have our reserves in dollars but also our reserves in gold, because gold is money," Magufuli said at a ceremony in Dar es Salaam.

I wonder if Jim Sinclair has been in his ear. Any way, I'm not sure just how big a slice of the total global gold production Tanzania represents or how much of their production they will end up storing for themselves, but it's interesting to note that it's not just the usual suspects (China, Russia, et. al.) that are shoring up gold reserves.
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