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The DPR calls the Indonesian gold reserves to lose a lot from Singapore, how come?

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Jakarta, shesocial Indonesia

Chairman of the House of Representatives Commission XI Mukhamad
Misbakhun
highlight the amount
reserve
gold
Indonesia lost to Singapore.
He admitted that he was surprised that Indonesia could lose to a country that was not a gold producer.Indonesian gold reserves are only 220 tons.
“Compare with Singapore who does not have a gold mine, but has around 240 tons,” Misbakhun said at the seminar ‘Behind the Golden Luster: Who is the guarantor of deposits at the Bank Bullion?’At Paramadina University, Jakarta, Tuesday (5/8).
He said the formal Indonesian gold reserves were recorded at Bank Indonesia (BI) as many as 80 tons, PT Pegadaian as much as 100 tons, and Indonesian Islamic Bank (BSI) around 40 tons.
Meanwhile, there are more than 1,000 tons of gold held by the community.However, these gold-gold are not recorded in the formal system.
In fact, he considered gold reserves, he said it was very important for the national economy.Misbakhun said there was no economic system that could guarantee economic resilience as strong as gold.
He said many countries, such as Germany, India, and European countries could survive in a long war because of securing gold reserves.
That is why towards the end of World War II, the United States (US) pioneered the Bretton Woods agreement where the US dollar value was pegged against gold.
“From here I learn, the gold -based reserve system is very important. And Indonesia, with large gold reserves, should use it to strengthen the economic system,” he said.
Therefore, Misbakhun encouraged BI to strengthen his gold reserves.According to him, BI’s monetary policy strategy is now more focused on the instrument of Indonesian Rupiah Securities (SRBI).
“The central bank that should provide an active role is actually leaving the gold system of our central bank. I convey it to BI why BI in every monetary operation is more often playing SRBI rather than strengthening the gold reserve system,” he said.
The same thing was revealed by BUMN Minister Erick Thohir.He said Indonesia had 1,800 tons of gold reserves, but most of them were held by the community.
For this reason, the government began the formation of Bank Bulion.This gold bank is expected to attract gold for the community to be stored and registered in the system.
“In this community also circulated approximately 1,800 tons of gold, some were under the pillow, in the toilet, behind it there was a brick
entered
into there.That is reality, “Erick said at the launch of the Indonesian Gold Bank Service at The Gade Tower, Jakarta, Wednesday (26/2).
[Gambas: shesocial video]
(fby/dhf)

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