Central banks have been buying massive amounts of gold over the last 50 years, purchasing a historic high of 374.1 tons in 2019. The unprecedented shift has been seen by many as a move away from the US dollar. The interesting thing, according to Egon von Greyerz of GoldSwitzerland.com, is that not every country is buying gold. He told RT’s Keiser Report that mainly Eastern central banks have been piling up the shiny metal. “We are talking about Russia and China, Turkey, Poland, and Hungary.” Russia and China are the ones that are “really seeing what’s happening,” he says. “They know that the dollar is going to collapse.”
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