I am the reserve manager at the central bank.
My job is to buy gold.
This year, we bought 297 tons.
We bought quietly.
Meanwhile, we are also printing money.
We bought loudly.
Yesterday, gold reached $5,000 an ounce.
We started buying when gold was $1,800.
This is called "reserve diversification."
Diversification means we don't trust our own currency.
But we can't say that.
So we say "diversification."
The governor was on television last month.
He said inflation was "stable."
Stable means 6%.
It used to be 2%.
We adjusted the anchor.
That's monetary policy.
He said the currency is "sound."
Sound means it depreciates by 20% every year.
Every year.
But it sounds sound sound.
That's the point.
We bought 45 tons of gold in November.
Poland bought 95 tons.
Brazil bought 43 tons. China reports it bought 1 ton.
China is lying.
We all know.
Nobody says it.
95% of central banks plan to increase their gold reserves next year.
This is a survey.
We conducted our own survey.
Regarding whether we trust ourselves.
We don't.
We trust gold.
People ask why prices keep rising.
We say "supply chain".
We say "external factors".
We won't say, "Since 2020, we've printed 40% of the current money supply."
That's not external factors.
That's ourselves.
The finance minister asked if gold could hedge against our own policy risks.
I said, "Gold is a strategic reserve asset."
Strategic reserve means yes.
I simply can't agree.
Gold is currently worth $5,000.
Our currency is depreciating every day.
Our gold, however, is appreciating.
That's strategy.
That's how it works for us.
But it's not the same for you.
You receive currency.
We receive gold.
That's how central banks operate.