In the second world war, the ultimate target of the Nazi regime was the gold that belonged to the countries of Europe and other regions. Gold is a very precious metal, and during the time, it was a guarantee for national sovereignty. Even today, in the world of big money, gold is the most highly valued item that is traded in the market. Billions of dollars are made every day by speculators and traders manipulating the single market of this precious and divine commodity. It is a matter of concern to many from across the world ranging from the People’s Republic of China all the way to the United States everyone is asking the same simple question, where is the gold and who are the owners? In America, speculations have been made that gold is likely to be in Fort Knox; however, it begs the question of who owns the gold. Most people believe that there is a likelihood that most of the gold is not in Fort Knox. crypto 77 The fascinating fact about gold is that a hundred ounce of gold in the world financial centres like London, there may not be even one ounce of gold to back-up the transaction. An illusion has been created where a customer believes that they have an asset when in the real sense they don’t. It is thought that there is not a lot of gold in the world and if all of it were collected, it would only form a cube of 70 feet in height. However, the magic of gold still prevails throughout civilizations keeping us in its thrall. There has been an elite group of people from around the world who have valued gold more than paper money, and this has created a nightmare for most western bankers. India, Russia, and China conduct transactions in gold that go up to tonnes of gold being traded, the western nations have decided that the gold should remain in museums. On Wallstreet, gold is represented as a robust gold Monopoly set. In world’s most celebrated financial centres such as New York and London, the market for gold trade and transactions every day is estimated to be billions of dollars. The bullion banks are at the centre of all the drama happening because of the gold business and other precious metals. These are giant international banks that are licensed to deal in gold and other precious metals all around the world. Stories about some dealers in precious metals bragging about how they have used insider shredding to manipulate the prices of silver and gold is not a shocking matter in the business of gold. Even though traders have been seen to pop champagne worth thousands of dollars in celebration of bringing the price of precious metals down, it should not be forgotten that down the real line people are suffering. Gold markets are manipulated every day, and the result is inflation around the world especially in developing countries. In 2008, the economic crisis was reported to have originated from the market of precious commodities where some drop-in prices were experienced. What followed was people losing their jobs in the mining communities. For as long as gold maintains its intrinsic power, the market shall always be volatile and full of uncertainties.
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