Apparently "we" own 80 Tonnes of gold worth 4 billion dollars,it is stored in the "United Kingdoms" Bank of England,but here is the weird bit. It is leased to other countries but rarely leaves the vault When reading this two questions came to mind - Why is it stored so far away when many countries have repatriated their gold,apparently we don't have a "strong enough" vault or is it to keep it closer you any potential lessees Also how much would it cost to store,a pretty penny I would say especially as we say unless you hold it you don't really own it. I wonder if in the near future "our" gold will come back to Australia,if so we should "ask for China's help" because they have been running plenty of gold over the last few years covertly through Hong Kong. It will be interesting after the audit takes place to see if anyone has been able to shave some off
Apparently it is very fragile and you lose a bit everytime you move it, so audits are rare and moving it to Oz.... Well, imagine how much you'd lose bumping it around like that!
Back in the day, the RBA used to run tours of the RBA in Martin Place - Sydney for those in the finance sector. So I went on one. Apart from seeing the room with old bank notes being destroyed, we were also allowed in the vault that is under Martin Place. Lets just say, something the size of two tennis courts stacked on one side with brand new AUD on pallets and on the other behind bars (but touchable) tons of gold being held by the RBA (ours and other countries). Impressive to see.....
