“Honesty is the fastest way to prevent a mistake from turning into a failure.”
~ James Altucher
Written by Bryan Lutz, Editor at Dollarcollapse.com:
Though I am sure both of us are interested in an honest voting system, this message is not so cynical.
Remember when Poland was a poor communist slum of the western USSR?
Well, like many communist countries, they weren’t very honest about their economic policies.
Over the past 25 years they’ve come clean.
Poland is setting a new gold standard for the world.
It is an example of what free market capitalism could be doing to create prosperity in the rest of the West – if we allowed it.
And, while everyone has been talking about China’s buying spree, Poland has been somewhat of the unsung hero.
Adam Glapiński, the Governor of the National Bank of Poland will continue to add gold reserves.
And they have been, at record pace.
In Q2 of 2024, they were the top buyers, globally.
They added 19 tons of gold to their reserves.
Back in 2023, Poland was even more committed to sound money. Our Honest Pols came in second among the global gold buyers adding 130.03 tonnes of gold to their wallet – second only to China.
Here are what the numbers look like for 2023:
Poland’s central bank currently holds 14.7% of gold as part of its total reserve.
And, they’re committed to increasing their gold holdings:
“This makes Poland a more credible country, we have a better standing in all ratings, we are a very serious partner, and we will continue to buy gold. The dream is to reach 20 percent.”
Poland is not simply printing money out of thin air to purchase gold.
Over the last 20 – 30 years, Poland’s GDP has grown through free market competition and hard, industrial work to rival Japan’s GDP per capita.
That being said, there are some asking if Poland is the next Germany.
But there are some indicators like an aging population, position on the global stage, and market reach, which all create doubts.
Either way, Poland is a shining example for the West to make an about-face.
To see how the countries changed, here’s an overview:
