Gold going to Europe, India, China, and Russia. Why?


Where is the gold going?  Was sent the  following written by Dan Popescu:


Thanks to a set of excellent charts on gold imports vs exports by Nick Laird (, I would like to give you a brief outlook of where is gold going. We heard for some time that gold is moving to the Far East but is it really only moving there? Well if we start with the US, it certainly is going out. In the first chart, we can observe that at least since 1996 gold has been leaving the US without exception. …

Chart #1: US Gold Imports minus Exports

US Gold Import Export

Is this the same case for Europe? Contrary to what you might think gold is moving from West to East but some is not going all the way to India and China but rather stops in Europe. I have always made a distinction between North America (US and Canada) and Europe. In the second chart below, we see that European central banks have stopped selling gold in 2008 which corresponds with the financial crisis that almost brought down the international financial system. What is interesting is that they have not restarted buying although we have heard during the last year several European central banks talking up gold and in the last quarter, the central bank of Italy published a very positive study on the value of gold as a reserve asset. Last year Mario Draghi, president of the European Central Bank, at a question asked about gold, without hesitation, replied “For central banks this [gold] is a reserve of safety, it’s viewed by the country as such. In the case of non-dollar countries it gives you a value-protection against fluctuations against the dollar.” Can we expect a change in attitude by the ECB towards gold and the beginning of buying? I wouldn’t be surprised.

Chart #2: European central bank agreement on gold selling

European Gold Reserves

The next chart shows clearly that Europe has been importing more gold than it exported since the low in the gold price in 1999. The lowest dollar gold price was the afternoon London fix on July 20, 1999 when gold was fixed at $252.80. Exports started to exceed imports only in 2013 and they have been decreasing since then. I expect imports to be higher than exports again in 1016 in Europe.

Chart #3: Total European Union Gold Imports minus Exports

Total EU gold Import minus Export

Two interesting and particular cases in Europe are Switzerland and Romania. In chart #4 we can see that since the 60s there has been more gold flowing into Switzerland than it has been exported. However even more interesting is the high level of imports vs exports in the 70s and since 2008. Both periods correspond to major international financial and monetary crisis. Switzerland is reputable as an excellent place to store wealth and in particular gold. Switzerland is known for a stable political, economic and social environment. This explains in large part the pressure on the Swiss National Bank to stop the flow of funds into Switzerland. Gilles Labarthe, Swiss journalist and ethnologist, said “Switzerland is for gold what Bordeaux is to wine.” (“Switzerland’s Role in the Gold Market”). Switzerland, according to Nick Laird, has net 7,930 tonnes of gold of which 1,040 tonnes as official reserves. My speculation is that there could be a lot more unaccounted gold hidden under the Alps.

Chart #4: Swiss Gold Imports minus Exports

Swiss Gold Import Export

To the other extreme in Europe, let me mention the case of Romania. Romania with a GDP of only $199,950 mil. is not as rich as Switzerland who has a GDP of $703,852 mil. However, Romania has a very large stock of gold in its official reserves (103.7 tonnes). According to, “Romania is one of the countries with the highest gold reserves per inhabitant (5.5 grams of gold per inhabitant), and the local currency is 60% to 70% offset by gold, said the Romanian Central Bank Governor Mugur Isarescu.” During a recent trip to Romania, I was also surprised by a marketing campaign at the foreign exchange desk of a major bank to sell gold bars to the public.

Russia is a large producer of gold so I expect some gold to be exported but looking at chart #5 we can see clearly the massive gold buying by the central bank of Russia since the 2008 financial crisis and an acceleration since the beginning of the new cold war and the sanctions imposed by the US and the EU. Since 2008, Russia has increased by four its official gold reserves. Russia buys most of its official gold internally from Russian gold miners.

Chart #5: Russian Central Bank Gold Buying

Russian Central Bank Gold Buying

If we move east to Asia, we can see the large demand of gold by both India and China. The import restrictions imposed by the government of India has not stopped the flow of gold into India. Some estimates indicate approximately 18,000 tonnes of gold is held in India with most of it in private hands vs 557.7 tonnes by the Federal Reserve Bank of India. Indian gold in private hands represent about 10% of the world’s entire aboveground gold stocks. Other estimates go even farther than that to approximately 30,000 tonnes. A French visitor to India, Francois Bernier, enviously wrote 360 years ago how “It should not escape notice that gold and silver, after circulating in every other quarter of the globe, come at length to be absorbed in Hindustan.” Roman historian, Pliny, lamented some 1800 years ago, how India, the sink of precious metals, was draining Rome of gold, an appellation that resonates even today.

Chart #6: India Gold Imports

India gold Import

Both India and China are net importers of gold. The Reserve Bank of India announced in 2009, it has increased its official gold reserves of 357 tonnes by 200 tonnes (56%), while China’s total gold demand since 2008 has gone from zero to approximately 10,000 tonnes.

Chart #7: China and India Gold Demand

Chindia gold demande

So as you can see from these charts gold is certainly flowing from West to East and mostly transiting through Switzerland but some stops into Europe. I have not mentioned Australia, which I speculate being a major gold mining country with Canada and South Africa, are exporting more than they import and mostly to Asia.


Note, I intentionally did NOT indent the above so that the charts would be more readable.

Why would the Eastern Hemisphere need so much gold?

Well, the main reason is that many of the nations there wish to eliminate the dominance of the US dollar as the world’s reserve currency.

As the USA accumulates more and more debt, the EU, Russia, China, and India, which represent almost half of the population of the world are realizing that the time will come when the USA dollar will not dominate.

Of course for years, I have warned about that in articles and books.  Here is something from my latest book Hillary Clinton, Prophecy, and the Destruction of the United States:

Interestingly, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious,  that its potential dumping of that debt has been called China’s “nuclear option” against the U.S.A.—an option that involves no military intervention, but that could greatly harm the U.S.A.

Others have been concerned that Russia will perhaps encourage this the first opportunity it gets. European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the USA dollar from its position.  Those in Iran and some of the Arab lands, along with nations such as Brazil and India have discussed plans for the removal of the dominance of the USA in global trade as well.

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).  But the policies under the Obama Administration, following certain other administrations, have ignored these warnings.

Furthermore, the time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue.  Make no mistake about it — massive inflation is coming.  The U.S.A. dollar will ultimately crash and be worthless.  That “pride” of American power will be broken (cf. Leviticus 26:19).

Furthermore, the Bible predicts that at the appointed time, a King of the North and a King of the South with rise (Daniel 11:27,39-40) and the U.S.A., the nation currently with the “strongest fortresses” (Daniel 11:39), will be destroyed (see chapter 9).

Various steps that Hillary Clinton has endorsed will help lead to the multi-national formations that will ultimately have these kings. pp. 35-36

While pushing biblically immoral ideas is bad for the economy, it should be noted that economies vary. A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.

When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially.  Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16).  p. 94

Since many are now questioning the role of the U.S. dollar as the world’s reserve currency, more are looking into other currencies as well as gold.  Gold will set records in U.S. dollar terms.  When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.  The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar.  Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.  p. 161

“Gulf Arabs are planning—along with China, Russia, Japan and France—to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency… The current deadline for the currency transition is 2018” (Fisk R.  The demise of the dollar. The Independent, 6 October 2009; see also (Evans-Pritchard A. Gulf petro-powers to launch currency in latest threat to dollar hegemony.  Telegraph, December 16, 2009).

Events are lining up for the U.S. dollar to be dropped and the Obama Administration keeps advocating economic policies that are helping to accelerate that process. pp. 175-176

Thiel B.  Hillary Clinton, Prophecy, and the Destruction of the United States. Nazarene Books, 2015

But why gold?

Because it is historically used as either money or a safe haven in times of crisis.

Why else?

Because the Bible prophesies that it will have valuable into the start of the Great Tribulation and after the destruction of the USA and its Anglo-Saxon descended allies.  Here is information from my latest book Hillary Clinton, Prophecy, and the Destruction of the United States related to prophecies in Daniel 11, starting with verse 37 which show that the final European King of the North will value gold:

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.

Notice that the King of the North, the ten-horned beast, will really worship himself, but will outwardly honor some type of god, perhaps including technology related to war. p. 136

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.

The “he” is the King of the North. The two Hebrew words translated as “the strongest fortresses” in verse 39 do not appear together anywhere else in the Bible.

Something is, thus, unique here.  Notice another translation which is similar:

39 Claiming this foreign god’s help, he will attack the strongest fortresses. He will honor those who submit to him, appointing them to positions of authority and dividing the land among them as their reward. (Daniel 11:39, New Living Translation, 2007)

Who has the strongest fortresses?

Looking further down in this chapter in Daniel, we must eliminate the King of the South, because that King is not attacked until later (the next verse). We must also eliminate those in the North and East, as they do not get involved until later (verse 44).

Neither the rest of Africa nor Latin America has anything resembling “the strongest fortresses.”  The strongest fortresses belong to the United States, and to a much lesser degree, its English-speaking allies.

Thus, in current times, Daniel 11:39 seems to be describing when the Anglo-English-American nations are being destroyed.  pp. 138-139

43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels.

The “he” is the King of the North.  This is the same King of the North that valued gold and silver in Daniel 11:38.  Although other scriptures also show that gold and silver will have value around this time (like Revelation 18; 9:20), the Bible is clear that gold and silver will be worthless for a short time before Jesus returns, e.g. Ezekiel 7: 19.

The fact that the King of the North himself will accumulate gold (and some silver) is consistent with several Byzantine (“Greek” Orthodox) prophecies of their expected Great Monarch: p. 160

Thiel B.  Hillary Clinton, Prophecy, and the Destruction of the United States. Nazarene Books, 2015

So, the Bible is clear that a leader in Europe will be interested in gold in the end times.  Gold will have value when the USA dollar becomes worthless.  Now this does NOT mean that gold will only go up in value.  It will have ups and downs and probably will drop in value once associated with the temporary peace deal that Daniel 9:27 alludes to (see also The ‘Peace Deal’ of Daniel 9:27).

While the leaders in the USA seemingly believe that they can keep increasing debt that it really never intends to pay back, the Bible has the following warning:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. 16 You shall defile yourself in the sight of the nations; then you shall know that I am the Lord. (Ezekiel 22:13-16)

Printing/electronically creating money, as the USA has been doing to finance its debt, is a ‘dishonest profit.’ The USA has been more and more living off of these dishonest profits and that will end.

Many in the Eastern Hemisphere see this and are taking steps.

The time will come when the world order dominated by the British-descended peoples and the USA will be no more.  A new world order is developing, and gold will be part of it per the Bible like the 18th chapter of Revelation 18 points out.

Steps are being taken to set this up now as the charts shown earlier seem to support.

Some items of possibly related interest may include:

The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Alternative to the US Dollar in the Fall of 2015? Is the US dollar about to lose its dominance as the world’s reserve currency? Does the Bible teach anything about that? Could Porter Stansberry be correct that the International Monetary Fund will announce an alternative to the US dollar in the Fall of 2015? Do Does the IMF, European Union, BRICS (Brazil, Russia, India, China, and South Africa), and other groups want the US dollar dethroned? Are China and other nations doing something to try to make this happen? A written article of related interest is titled: Stansberry: US dollar replacement to be revealed October 20, 2015? What about 2016?
The ‘Harbinger’ and September 2015 Are you aware of many events that are to happen in 2015? These expected events include the end of military operation Jade Helm, a claimed end to a Shemitah year, Pope Francis speaking before US Congress, Pope Francis speaking before the United Nations, a planned UN proposal to recognize the State of Palestine, and the fourth of four ‘blood moons’ of 2014 & 2015. A written article of related interest is titled: September ‘convergence’: a harbinger of potential disaster?
When Will the Great Tribulation Begin? 2015, 2016, or 2017? 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 comenzar la Gran Tribulación en 2015? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives.
Project Prophecy: Economic Collapse Starting in 2015? Jim Rickards once worked for the CIA and also was once part of a a USA government program called called ‘Project Prophecy.’ He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse? This is a video.
Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach? This is a video.
The ‘Peace Deal’ of Daniel 9:27 This prophecy could give up to 3 1/2 years advance notice of the coming Great Tribulation. Will most ignore or misunderstand its fulfillment? Here is a link to a related sermon video Daniel 9:27 and the Start of the Great Tribulation.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Hillary Clinton in Prophecy Prophecy, Hillary Clinton? Are there prophecies that Hillary Clinton may fulfill? Are there any prophecies that she has already helped fulfill? Could Hillary Clinton be apocalyptic? Could Hillary Clinton be the final Antichrist?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Protestant and Church of God views of the United States in Bible Prophecy Is the USA mentioned in Bible prophecy? Some Protestants say yes, while others say no. What does the Bible really teach? Learn the truth about this. There is also a video available: Is The United States Mentioned In Bible Prophecy?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Just What Do You Mean the Kingdom of God? A booklet that was written by Herbert Armstrong answers questions about the Kingdom.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
Hillary Clinton, Prophecy, and the Destruction of the United States This is a 188 page book for people truly interested in prophecies related to Hillary Clinton and the United States, including learning about many that have already been fulfilled and those that will be fulfilled in the future. It also discusses Republicans. The physical book can be purchased at Amazon from the following link: Hillary Clinton, Prophecy, and the Destruction of the United States: Is Hillary Clinton Fulfilling Biblical, Islamic Catholic, Hopi, and other America-Related Prophecies? $11.99.
Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition. This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition.

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