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The Fall in International Reserve Assets

Hugo Salinas Price

Something important has happened since August 15, this year. I have been following  global central bank "international reserve assets" (excluding gold)  as tallied by Bloomberg, for the past 18 years, and I have seen them increase steadily over the whole of that time.  My source has been Doug Noland's "Credit Bubble Bulletin"  at www.prudentbear.com.

In September of last year, I wrote an article, "The Stalling Growth of International Reserves" published on my website, www.plata.com.mx

Now the quite extraordinary news is that International Reserve Assets are not just stalling, they are actually going into reverse.

On January 3, 2014, the figure stood at $11.546 trillion dollars and grew to $12.024 trillion on August 15, 2104, a growth of $478 billion dollars.

From that date to October 24, 2014, International Reserves contracted $172 billion dollars to $11.852 trillion dollars; a decline of 1.43% over a period of 11 weeks.

Over the course of the last 18 years, there has never been a period during which International Monetary Reserves decreased.

I should be glad hear some explanation of the reversion of the long trend in the accumulation of Global International Reserve Assets.



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Hugo Salinas Price, World Riba Conference, Kuala Lumpur, Malaysia, Nov. 26, 2012.
Hugo Salinas Price, World Riba Conference, Kuala Lumpur, Malaysia, Nov. 26, 2012.
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