Bangladesh Buys Gold

The 220 kg Gold brick displayed in Taiwan

The relatively impoverished nation of Bangladesh, a country which had a per capita GDP in 2009 of only $654, just purchased gold from the IMF:

Bangladesh has became the latest nation to increase its official reserves of gold, buying 10 tonnes of bullion – worth about $400m – from the International Monetary Fund…It followed similar buying by India and Sri Lanka…

Analysts said that Russia and the Philippines had bought large amounts of gold this year from local miners, boosting their officials reserves. In the past two years, China and Saudi Arabia have also reported large increases in their official bullion holding…(Blas J. Financial Times, September 10 2010. http://www.ft.com/cms/s/0/076b19ea-bcbe-11df-89ef-00144feab49a.html?ftcamp=rss)

The non-Western nations of the world are getting more and more concerned about the stability of paper money and several have been buying gold.

And while the amount of gold that Bangladesh purchased was not high by international standards, the fact that it did buy it suggests that it, like many other nations, has long-term concerns about currencies like the USA dollar.

And while the Bible is clear that gold will be worthless for a time, it is also clear that it will have value into the Great Tribulation (Daniel 11:40-43; Revelation 18)–which means it will have value longer than the USA dollar will. Now this does not mean that gold could not drop in price relative to the USA dollar, as there will be ups and downs. But it does mean that the more nations that decide they value gold, the less likely they are to value the USA dollar.

The world is slowly taking steps to try to reduce some of its exposure to the USA dollar. Even including nations like Bangladesh.

For additional information, check out the following articles:

The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage and discusses some of the witness to them (including those in Bangladesh, Pakistan, and Sri Lanka).
Prophecies of Barack Obama? This article has eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. It includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? This is the longest and most complete article at the COGwriter website on Barack Obama prophecies. Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?