While most Americans have been focusing on the rising inflation, the war over in Israel,

as well as all these lawsuits that have been lobbied against President Trump, well, what seems to have flown completely

under the radar was the fact that both China and Russia had been stockpiling massive amounts

of physical gold.

Furthermore, it's not just Russia and China. Looking across the entire world,

it seems like the central banks of most nations are increasing their stockpiles of gold.

In fact, quote, according to an October 31st update by the World Gold Council, global

Central Banks collectively bought an astonishing 800 tons of gold in the first three quarters

of 2023.

This is a 14% increase in gold buying compared with the same period last year.

And just for your reference, the period last year was already a record high.

And then in terms of the country, which is stockpiling the most, well, it's America's greatest

geopolitical rival who also happens to own the most amount of US debt, communist China.

Quote, the People's Bank of China regained the title of the largest buyer globally, increasing its gold reserves by 78 tons during the third quarter.

Since the start of the year, the People's Bank of China has increased its gold holdings by 181 tons to a total of 2,192 tons. Furthermore, it's not just the central banks of nation states

that are hoarding gold. Individual citizens here in America are, likewise, buying up gold at breakneck speeds.

For instance, Costco recently began selling gold bars over on their website.

And in the last quarter, this one retailer, Costco, they alone sold over $100 million worth of gold,

with these gold bars typically selling out within hours of going online.

Here's in fact how Costco's chief financial officer described the situation in a recent earnings call.

Quote, you've probably read about the fact that we're selling one ounce gold bars.

We sold over $100 million worth of gold during the quarter that ended on September the 30th.

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