http://www.bloomberg.com/news/2011-...ntral-bank-priority-right-to-buy-gold-1-.html It seems logical to see the worlds gold producing countries channel their gold production directly into their Central Bank. Australia produces about 270 tons a year, and only a couple of years would mean a big change in the RBA balance sheet, at full market value of course. The export figures would suffer also, but that is the other side of the 'coin'. OC
It won't happen in Australia as long as we have losers like Gillard, Brown and Abbott as our only options for government. It would take someone with guts and vision that wasn't corporate owned to do something that would assure Australia's economic future.
I doubt it would worry the gold producers if the Government mandated sales to the RBA at full market price. Not sure the Government really would bite the bullet, but will be forced to eventually. OC
