Australia has only 80kg of gold !!!!! Don't worry the rest is safe...You can trust the BOE http://www.silverdoctors.com/bank-o...of-gold-reserves-are-held-in-bank-of-england/
99.9%! I wonder why they felt it necessary to hold on to 0.1%, spending gold? At least they can say, hand on heart, that not all the reserve has been deposited in an overseas account.
So you're saying if you don't hold it, you don't own it? "Australia has 80kgs" and "Australia has 80kgs stored in Sydney" is not the saying the same thing for me.
Let's hope that where ever the paper is stored is safer than the Melbourne RTA did with they're paper They had a fire & NO rego records pre 88 somewhere
Guess I haven't achieved the true stacker state of mind. Can't see why physical bullion stored thousands of kms away is considered paper or pixels on a computer screen. After all some of us do store our precious in other people's vaults.
So the entire nation of ~22,000,000 has 80kg of gold on hand, and the rest is shared with who knows how many nations in the giant Ponzi scheme known as the BOE. That certainly makes my modest stack seem a bit more important.
If the BOE did not have space in the vault for German auditors but they had plenty space for a crazy professor with weird hair and a TV crew as well as the queen her personal group and bodyguards I am sure they would allow the RBA to audit their 80tons to ensure it has not been sold leased or disposed of in some other scheme. Oh' sorry Dr Stevens said he was happy with the cost and security of the BOE and does not need an audit......hahahaha We all lose..
Presumably if you do store metal in other peoples vaults, it should be allocated, audited regularly and have a long track history of safety. There are all kinds of legal issues to consider; if the business you store your metals with becomes insolvent with debt owing that could be a big problem. The Central Banks have a long history of fraud, and without regular independent audit those gold bars may as well be pixels on a screen worth no more and no less. That is very sad for the Australian public who own that gold or in reality they own the pixels on the screen. Get the idea?
Ouch If you can touch it, lick it and caress it, its more than likely yours. Its like saying to a friend, can you mind my stack of cd's and then later find out he's lent them to everyone else and there no hope of getting your cd's back Same thing with this case, the RBA has given the gold to BoE to lease out or do what ever to it, and it only a matter of time before the BoE does an MF Global and says "Oooops I,ve lost 80 tonnes of your gold, I know its here somewhere, its 80 tonnes, cant be that hard to miss. Sorry, I'll repay you back in fiat currency instead"
Scary stuff. Better brush up on your Mandarin in preparation for becoming subjects of the New Chinese Empire.
Yeah me too . Its funny you would think their face would be dragging on the ground with all the weight but its usually their knuckles :lol:
