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Canada currently holds a unique, and some say controversial, position in the G7: it is the only member nation with zero gold reserves.
In 1965, Canada sat on a massive 1,023 tonnes of gold—a stockpile that would be worth approximately $149 billion in today’s market. However, over the span of several decades, the Bank of Canada liquidated its entire holdings. This wasn’t a sudden shift, but a calculated transition led by successive administrations (from Trudeau to Mulroney) and central bank governors. The prevailing logic? Gold was an "unproductive asset," and Canada was better served by high-liquidity foreign bonds and paper assets.
The Global Contrast:
USA: ~8,133 tonnes
Germany: ~3,352 tonnes
As we face a new era of high inflation, geopolitical volatility, and a massive resurgence in central bank gold buying, Canada’s strategy is being put to the ultimate test. Was the "paper-first" approach a brilliant modernization, or did Canada trade away its ultimate insurance policy?
Option 2: The "Hook" (Punchy & Viral)
Canada sold 1,023 tonnes of gold. Now, they have ZERO. 🇨🇦📉
In 1965, Canada was a gold powerhouse. Today, it’s the only G7 nation without a single ounce in its reserves. While the US and Germany hold thousands of tonnes, Canada bet everything on liquidity and foreign currency.
The architects of this plan believed gold was a relic of the past. But with global central banks now buying gold at record rates and inflation remaining sticky, the narrative is shifting.
The Big Questions:
Did Canada modernize too early?
In a world of digital assets and rising tensions, is "zero gold" a vulnerability?
Is a strategy reversal even possible at current prices?
History is watching. ⏳
Option 3: The "Skeptical/Contrarian" (Brief & Engaging)
Is Canada’s "No Gold" policy a ticking time bomb? 💣
While the rest of the G7 treats gold as the ultimate "safe haven," Canada opted for the exit ramp decades ago. They swapped 1,000+ tonnes of physical bullion for paper assets and bonds, betting that the modern financial system had outgrown the "barbarous relic."
The Current Reality:
Gold Prices: Near all-time highs.
Global Banks: Buying gold at the fastest pace in decades.
Canada: 0.0% reserves.
Whether this was a masterclass in portfolio diversification or a massive strategic blunder depends on who you ask—and what happens to the global economy next.
Key Improvements Made:
Clarified the Logic: I added the term "unproductive asset," which was the actual reasoning used by the Bank of Canada (gold doesn't pay interest; bonds do).
Structured for Scannability: Used bullet points and bold text to highlight the $149B valuation and the G7 comparison.
Balanced the Narrative: Framed it as a "test" rather than just a mistake, which usually generates more engagement and comments
