Gold "audit" RBA

Discussion in 'Gold' started by Shlomo Goldberg, Apr 17, 2022.

  1. Shlomo Goldberg

    Shlomo Goldberg Well-Known Member Silver Stacker

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  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    The 2019 audit by the RBA of their gold holdings with the BOE appears to be a random selection of bars which are checked against recorded serial numbers, mint branding and weight...Would be interesting if the RBA audit team had / will take a XRF in with them to check a few bars etc....
     
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  3. MLP

    MLP Active Member Silver Stacker

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    At 4.57, does that say 1000 grams?

    If so, that's got to be the lightest bar of gold in history or the smallest set of hands I have ever seen.
     
    Last edited: Apr 17, 2022
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  4. Shlomo Goldberg

    Shlomo Goldberg Well-Known Member Silver Stacker

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    What stacker in their right mind would deal with a custodian that knowingly holds fake bars & the impunity to switch them around in a secret fractional reserve lending scheme?
    I suspect none on this forum, yet 80 odd tonnes is inconsequential to the RBA. I suspect the RBA act 1959 fine print has a lot to do with it.

    send it home to be verified & secured. As it stands, it’s no better than an ETF.
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    bars that size need ultrasound for sure.
     
  6. Shlomo Goldberg

    Shlomo Goldberg Well-Known Member Silver Stacker

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    Funny that a very minor party senator or in the case of Adams/North is left to hold the RBA & federal government to scrutiny.
     
  7. Shlomo Goldberg

    Shlomo Goldberg Well-Known Member Silver Stacker

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    At @$86,000 per kilo bar, I’d argue it’s worth the time & effort to audit & repatriate our gold.
    We saw with the USA Federal Reserve stalling Germanys gold repatriation over the period of two or so years from memory that they could not deliver what was held in custody.
     
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  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    What "secret fractional reserve lending scheme" are you referring to?
     
  9. lucky luke

    lucky luke Well-Known Member Silver Stacker

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  10. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

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    I just find the lack of transparency with regards to Loco Swaps, Leases & questionable titles more than a little hard to swallow (& that's without going into whether it exists and if it's real).
    It smacks of a bad idea to make some money on gold while nobody was using it taken WAY too far by civil servants who didn't understand the underlying principles to me.
    I only have a rudimentary understanding but am I on the right track?
     
  11. screaming eagle

    screaming eagle Active Member Silver Stacker

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  12. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    2. Where is the Reserve Bank's gold stored?

    Almost the entirety of the RBA's physical gold holdings (99.9 per cent) is stored in the United Kingdom at the Bank of England (BoE). The BoE holds the RBA's gold as bailee; legal and beneficial title to the gold remains with the RBA. A very small amount of gold is stored at the Reserve Bank's head office in Sydney.

    In Hostile time, We could lose this All.

    What happen when UK get invaded by other Nations? or even aliens. or even if We want to get independency to be a republic.

    "They say if you don't Hold it , they are Not yours." :p

    Interesting articles to read.

    99.9 per cent, LOL




     
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