The aphorism 'actions speak louder than words' refers to actions being thought to reflect more accurately the true intent of the observed. Furthermore while the motive of a speaker can be quite convoluted and contrary, the implication is that the motives of his/her actions are likely to be more direct or forthright.

We have noted previously the shift in central bank behavior over the past several years, from net sellers of gold to net buyers. This includes the significant deceleration of sales by Western Central Bankers. Implicit in this is that most of them are now buyers of gold (in so much as logic suggests that, if one holds an asset one is a buyer of that asset otherwise one would sell and hold something else). The relatively recent actions by central banks however to not only buy gold but also repatriate and upgrade owned bars, further demonstrates in our view an implicit acknowledgement of its monetary importance.

David Fuller's view Central banks and their governments have discovered, or rediscovered, that gold holds its value over the longer term.

In contrast, paper currencies which are not linked to gold seldom hold their value for very long.