Secret Agreement

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    The fourth iteration of the Central Bank Gold Agreement (CBGA) has just been signed.

    Essentially, it's a statement by Western Europe's most powerful central banks about how much gold they're willing to sell over the next five years.

    Though done with no fanfare and barely any media coverage, its importance can't be overstated.

    The real story lies with who hasn't signed, and what they're doing with their gold...

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