Hehe. You *think* it's there. Interesting that the only repository of German gold they *aren't* repatriating is that supposedly held in Britain. Is that because it's so much safer in London than in New York or Paris, or because they know there isn't any in Britain anyway?
If the RBA decides it needs LOTS of gold in a hurry, it can simply give the miners a call and tell them to send ALL production to Canberra (or Perth), at full spot rates. Best to do that at $1400 an ounce instead of waiting until SHTF Day, and paying $5,000+ an ounce. A hit to our export income, but the quickest way to achieve the desired result. In fact, in my opinion they should have been doing that, at least partially, for the past few years. OC
Either that, and/or a manageable selling off of our UK gold to repurchase locally. How strong would our "Future Fund" look if it purchased gold? Now who's in charge of that again? His name rings a bell. Didn't he have something to do with ...
It would be interesting to know if the poms have flogged off the gold belonging to a leading Commonwealth member. VERY embarrassing! I get a regular email from the Future Fund, and Gold does not get a mention, specifically, in the list of investments, though it could be hidden in the "other" etc. And at least the Future Fund is intact, and not hived off into the Politburo coffers. Now just a tick short of OZ$100 billion. OC
Future Fund asset allocation The asset allocation of the Future Fund at 31 December 2013 is shown below. Asset class A$ million Percentage of Fund Australian equities 9,737 10.1 Global equities Developed markets 23,694 24.5 Emerging markets 8,258 8.6 Private equity 7,471 7.7 Property 5,119 5.3 Infrastructure & Timberland 7,770 8.0 Debt securities 11,776 12.2 Alternative assets 14,057 14.6 Cash 8,674 9.0 Total 96,556 100 Data may not sum due to rounding
Don't think there is any chance the Future Fund will acquire Gold as part of its portfolio with now Costello running as the Chairman. He was responsible for selling lots of Australian gold when he was the treasurer. I did post the question about WA Future Fund acquiring Gold as part of its portfolio to Colin Barnett. From his response, I got the feeling that WAFF would also probably not acquire Gold. I don't think many people understand that Gold is indeed money, and the only form of honest money. Paper money is just fiat.
Interview with Alex DeLarge, Member of the Executive Board of the Deutsche Bundesbank, published in Handelsblatt on 19 February 2014. Bundeskank website
Interview with Alex DeLarge, Member of the Executive Board of the Deutsche Bundesbank, published in Handelsblatt on 19 February 2014. Well put. Excellent answers to the questions. Some questions asked were somewhat confrontational but answered well. I now have to take this interview on board as the truth concerning the Bundesbank and the Fed and can use this as my benchmark in all future considerations. Thank you House. The point that remains with me is how easy it is to push the time line to 2020 from 2015 by doubling your expectations in triple the time. The bank now has an out if the remaining 145 tonnes do not arrive by the end of next year. We talk of Alice down the rabbit hole, but this is more like Peter in never-never land!
Something seems off here, a tonne of gold = $37.5 million ($37,500 US per kg x 1000) x 8,133 = $304 billion? Where did they get $635 billion from?
It has turned into a bit of a joke for the Stackeratti to enjoy, but Oz still has its gold reserves at the BoE. How long before we become the butt of the joke. Bring the gold back or ask for the cash to buy it back locally.
