Gold affected by European & US banking concerns; Russia announced increased gold reserves


ZeroHedge reported the following:

Gold price a bit higher as European bank turmoil heats up

March 24, 2023

Gold and silver prices are slightly up in early U.S. trading Friday, with silver hitting a six-week high. Safe-haven buying is keeping a floor under the two precious metals’ prices, heading into another uncertain weekend on the U.S. and European banking front. April gold was last up $1.20 at $1,997.00 and May silver was up $0.059 at $23.32.

Risk aversion is again elevated to end the trading week, as focus is now on credit default swaps with Deutsch Bank that are suggesting stress for that bank. The recent series of banking problems in the U.S. and Europe are playing out as some veteran financial market watchers expected: sort of a rolling crisis that shows no signs of letting up.

Deutsche Bank, UBS stocks sink as European banking crisis fear returns

March 24, 2023

Europe’s banking stocks tumbled Friday in a sign that investors are still nervous that the recent crises at some banks could spill over into the wider sector.

Europe’s Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, fell 5% by the middle of the European day. The index is down 19% from its high in late February. London’s bank-heavy FTSE 100 index dropped 2%.

Shares in Germany’s Deutsche Bank (DB) plunged 14%, while shares in UBS (ACPTX) and Credit Suisse (AMJL) — which are not part of the Stoxx Europe 600 Banks index — slid 6.7% and 7% respectively Friday, following falls of 4.3% and 3.6% on Thursday.

It should be noted that the Europeans blame this on the USA. Basically, they believe that the US Federal Reserves policies since last Summer to raise interest rates has forced them to do so. They also see the failures of US banks, like Silicon Valley Bank, as causing a contagion that is affecting them.

As posted here many, many times, the late Pastor General of the old Worldwide Church of God, Herbert W. Armstrong, had a view about banking matters and European unity. Here is something he said in a sermon on July 7, 1984:

And I can see now, the event that is going to trigger the formation of the reunification in Europe; the resurrection of the medieval Holy Roman Empire that we’ve been looking forward to that is prophesied to come…

But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! … Well now I think I can see what may be the very event that is going to trigger…that is the economic situation in the world

The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven…

Now when the financial structure breaks down, all civilization is going to break down…

So, an economic or banking crisis is what Herbert W. Armstrong concluded would drive Europe to unite–and let me add that once it does unite, it will turn against the USA.

What about gold?

Well, Russia has been taking steps to increase its gold reserves–including during the past year since its military operation in Ukraine;

Russia lifts veil on gold holdings

March 23, 2023

Russia’s gold reserves jumped by 1 million ounces over the last year to 74.9 million ounces as of March 1, according to a report by the country’s central bank.

The Bank of Russia had stopped disclosing the volume of gold in international reserves in the wake of Western sanctions. The last time it reported an amount was in February 2022, when it said that total gold holdings were 73.9 million ounces.

The regulator’s report on Wednesday showed that gold reserves were worth $135.6 billion as of March 2023. …

According to the Kremlin, the idea of international reserves has been discredited by the use of the US dollar as a weapon in the sanctions war against Russia.

The Europeans are aware of the weaponization of the USA dollar and have also looked at increasing gold holdings. As far as Russia, gold, and some of its allies goes, here is something from our free online book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:

Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former (again current) President of Brazil, Luiz Inácio Lula da Silva, even claimed that eliminating the U.S. dollar’s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed in the first place. [i] Others have noted that bypassing the USA dollar is still an object of BRICS—and officially BRICS nations “are currently working on setting up a new global reserve currency,”[ii] which may have gold-backing.[iii] The expansion of BRICS (which is in progress) may ultimately even hurt Australian trade as well as “severely weaken primacy of the US Dollar as an international currency.”[iv]

The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Debt is also warned against (Habakkuk 2:6-8). Yet policies enacted under the Obama, Trump, and Biden Administrations, following certain other administrations, have ignored these warnings.

[i] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019

[ii] BRICS developing new global reserve currency – Putin. RT, June 22, 2022

[iii] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022

[iv] Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022

In USA dollar terms, gold topped $2000 per ounce for a time earlier this week:

Gold … spot gold climbed 1.6% to its highest since March 2022 at $2,009.59 per ounce, just short of a record set during the onset of the pandemic. By noon ET, it reversed to a 0.6% loss at $1,977.42 per ounce. 03/20/23

Here is part of #14 of my list of 23 items to prophetically watch in 2023:

14. Gold

While some economists have called gold a ‘relic,’ it still has value internationally.

Alex Stanczyk observed:

Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.

This is not because of some dogma I have for the metal. Some will trot out “you are just talking your book” when I mention this.

The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns, all of it. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.

Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level. (Stanczyk A. A Gold Guys View of Crypto, Bitcoin, and Blockchain., December 10, 2017

Its ‘permanence’ from a physical perspective is reassuring to many. But the fact it is not a food and provides no calories shows its value has severe limits.

‘Czech Republic To join Poland And Hungary In Central European Gold Rush’

‘Why Gold Will Benefit From The Inevitable Reshaping Of The International Monetary System’ & France Repatriates

‘Gold & Geopolitics … If this is Putin’s plan, the consequences for Western fiat currencies are likely to be devastating’

‘Russia’s Putin declares an end to Western currencies, says world moving towards “real reserves” including “land, food, gold”’

Yes, Russia and others are looking to gold. Fiat currencies, like the USA dollar and British pound are backed by nothing. Many know this and think that will last forever–well the monetary system will not stay as it has been.

The Bible prophesies King of the North will get gold which end time Babylon will trade with:

37 He shall regard neither the God of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain. 40 “At the time of the end the king of the South shall attack him; and the king of the North shall come against him like a whirlwind, … 43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt … (Daniel 11:37-39,43)

10 … ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. 14 The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have gone from you, and you shall find them no more at all. 15 The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, 16 and saying, ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! (Revelation 18:10-16)

While the Bible is clear that gold will, for a time, not be wanted but tossed (Ezekiel 7:19), it is obvious that into the Great Tribulation (Matthew 24:21-22), which starts in verse 39 of Daniel 11, gold will have value (see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?).

The old Worldwide Church of God published the following:

Of course, since gold is regarded as a disaster hedge by many investors, prudence might dictate that perhaps a small fraction of your liquid assets be in gold: (Caulkins J. WHEN MONEY FAILS. Good News, October-November 1979) In Revelation 18, we are given a graphic description of Europe at its future economic peak. Remember this prophecy occurs after the United States, Canada and other Israelitish nations have been conquered and brought into subservience. … In verse 11, Europe’s coming economic wealth and scope is described as John sees it, shortly before the final crisis (to occur at Christ’s coming) takes place. “And the merchants of the earth shall weep and mourn over her, for no man buyeth their merchandise any more: The merchandise of gold and silver … (Catherwood CA. Europe and Our Prophetic Message. Good News, October-November 1979)

Yes, gold will outlast the US dollar and the European Beast power will have it.

In terms of world events, understand that Germany has been repatriating gold–and even did so ahead of schedule (watch Germany, Gold, and the US Dollar). Europeans have a lot of gold (see The Plain Truth about European Gold) and want more. The continental European gold reserves listed amount to about 11,353.4 tons of gold–that is almost as much as the USA and China combined.

In 2017, I published the following in my book Donald Trump and America’s Apocalypse:

Gold will set records in US dollar terms.

It did on August 6, 2020:

“The price of gold shot up to an all-time high of US$2,067.15 per ounce on Aug. 6” (Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020).

Gold will be an item or value in 2023 and at least a few years beyond.

Nations in Asia, Europe, and even Africa will look to increase gold reserves.

Gold will break records in US dollar terms.

But there may be ups and downs before it does again.

Are you paying attention to what is going on in the world?

There are banking concerns, there are US dollar concerns, there are countries increasing gold reserves.

This will not end well for the USA nor its British-descended allies.

Probably within the next decade.

Some items of possibly related interest may include:

23 items to prophetically watch in 2023 Much is happening. Dr. Thiel points to 23 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon:  23 things to prophetically watch in 2023. Here is a related sermon in the Spanish language: 23 Temas para observar proféticamente en 2023.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2031 or ? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
When Will the Great Tribulation Begin? 2023, 2024, or 2025? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Notice also: Can Jesus return in 2023 or 2024? Here is a video in the Spanish language: Es El 2021 el año  de La Gran Tribulación o el Grande Reseteo Financiero.
Is a Great Reset Coming? Klaus Schwab of the World Economic Forum has proposed a societal change that has been basically endorsed by the Vatican and many world leaders. Does the Bible prophesy a major reset? Here is a link to a related video: Will there be a “Great Reset”?
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon;  When Will the End of the Age Come?Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.


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