http://247wallst.com/2011/01/26/the-13-countries-that-control-the-worlds-gold/2/ Top 3 are USA, German and Italy(!) So interesting about Italy - talk about off the radar. "Italy was in the Central Bank Gold Agreements . On the surface, it seems that the Italians are unlikely to sell off their gold reserves even if they are the least discussed nation among the PIIGS. Releasing gold might address some of Italy's budget gaps, but the country faces many serious economic problems. If we had to guess about reserves, we'd expect to see a slow or small drop but not enough to make much difference." Then it's France, China, Switzerland, Russia, Japan, Netherlands and India. So there's China at 5th in holdings after Italy and France. The power of old Europe.
Considering a few western countries sold out their gold shortly after 2000, this doesn't surprise me that much in all honesty. China will definitely rise though in the coming years I think. They have a shitload of US debt to palm off and that buys a lot of gold...
Germanies and Italies gold are held in New York in the Federal Reserve vault "in trust". I would bet that, the alleged reserves do not exist or cannot be claimed. They are a relic of the gold standard days after WWII. Italy and Germany have not seen that gold for over half a century. For all intents and purposes it is gone. Just like Fort Knox. All leased, looted and stolen already. And unable to be claimed back as they will be conveniently adjusted in some balancing of the books to belong to the Federal Reserve etc.
iv heard that Italy holds alot of their gold. I'm guessing they are waiting for the system to crash then they will come out on top.
Got a reference? I recall a senator (I think) suggesting that gold belonging to "third world dictators" should be confiscated, but nothing about German gold. I think Max Keiser debated the person making the suggestion in an interview (or maybe it was Gerald Celente? Time to Google).
Yeah im swimming through my firefox history and can't find it yet .... the only ones that found so far concerning germany and gold held in NY vault was: http://www.24hgold.com/english/news...10020&redirect=false&contributor=Chris+Powell but its not the one that i read for sure.
Ok, but Jim Rickards' speculation is not the same as "USA gov stated". Jim works at Omnis, which is private sector.
It was that statement and something else, will try to find it tomorrow, i mean today. 4am going to bed. http://www.gata.org/node/8766
Ok ! Who went and sold all the bloody Aussie gold without asking us first ? Quote: READ with interest the article about the sale of 167 tonnes of gold by the Reserve Bank of Australia in 1997 ("RBA's gold sale cost us $5bn", 11/1). I wrote to the then treasurer, Peter Costello, asking what had happened to the proceeds. Some months later I received a reply advising that the funds had been invested in US bonds "as they produced an income whereas gold bullion did not". What a brilliant move! The $US has fallen by about 50 per cent vis-a-vis the $A and, as noted in your article, the price of gold has soared by about 300 per cent. http://www.theaustralian.com.au/news/opinion/fools-and-gold/story-fn558imw-1225985892084
That's hardly new. Costello was an economical idiot. Glad he wasn't in charge of anything important! Oh wait.... F&$*!
