Central banks bought a record amount of gold. They'd rather you didn't.

The official position is that gold is a relic. A barbarous one, if you read the older textbooks. A pet rock with a marketing budget.

The official behavior is to buy it by the ton, year after year, quietly, through intermediaries, while the press releases talk about confidence in the system.

When the people running the printing press start hoarding the one thing they cannot print, it is not a secret. It is a tell.