HUNGARY SNATCHES ITS GOLD ASSETS FROM BRITAIN
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PLEASE SHARE OUR NEWS STORIES: THE NATIONAL Bank of Hungary is bringing back the country’s 100,000 ounces of gold from London, citing fears over a coming ‘geopolitical crisis’ according to sources. The total value of the 3 tons of gold amounts to 33 billion Hungarian forints (£92 Million).
According to the central bank in Hungary, the move was motivated by concern over future geopolitical crises and the fact that storing gold outside the country is increasingly being seen as too risky. The reference to “geopolitical crises” could possibly refer to Russia.
“Gold is not merely an investment product for central banks, but is a strategic tool that is conducive to confidence in the country both abroad and domestically,” the bank said in a press release, adding, “The time has come to bring home the gold reserves of the country.”
It is thought Russia is also mulling over its bullion and other assets held in London. In the event that the crisis worsens Britain would find itself left out in the cold due to its reliance on Russian gas.
Breaking news is that Russia and China, already committed to an alliance, are merging their military expertise and means. This is not good news for the European Union, especially for Britain.
The United Kingdom, being an island nation is far from being self-sufficient. In fact, the UK is 92% dependent upon imports and the island nation no longer has its Merchant Navy. In the event of hostilities breaking out, Britain is dead in the water – without a shot being fired.
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