Australia has no gold - Hang the Bankers

T

TeaPot&ChopSticks

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http://www.hangthebankers.com/austr...medium=rss&utm_campaign=australia-has-no-gold

After a campaign throughout 2012 to seek clarity in regards to the location of Australia's Gold Reserves the Reserve Bank of Australia (RBA) has confirmed today in an email to me that 99.9% of their Gold Reserves are held in the gold vault of the Bank of England.

Please read below for the text of the RBA's email response to me dated 19/12/12:

Thank you for your email.

As at end-June 2011 the Reserve Bank of Australia held 80 tonnes of gold in London Good Delivery bars. The Reserve Bank holds 99.9 per cent of its gold reserves in the United Kingdom at the Bank of England. The remaining 0.1 per cent is held at the Reserve Bank's Head Office in Sydney.

London is a major global gold trading market and the Bank of England provides a secure and cost-effective storage location for central banks and market participants. The Reserve Bank has processes in place to ensure that the gold reserves are maintained appropriately. It is not considered necessary from management, security or operational perspectives to relocate the gold bars to a facility in Australia.

The Reserve Bank has reviewed its approach to releasing details about its management of the physical reserves of gold and decided to release the above information.

Please note that we answered your previous questions as a routine public enquiry. The FOI Act concerns itself with the release of documents, rather than answering questions, so a request must seek documents to be valid.

Regards

Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au



I would like to thank Bullion Baron for their assistance in this matter and the encouragement and support of management and several clients of ABC Bullion, Sydney.

If you wish to view some of the gold stored in the Bank of England gold vault and see probably one of Australia's gold bars watch this recent video tour of the vault.
 
so $4.3b of australian liquid assests are sitting in a foriegn country and no one see's a problem with that?
the ultimate "deposit" to do what we are told
 
Reserve bank is part of an international offshore banking cartel, Australia owns zero tonnes of gold because the international banking cartels have stolen it.
 
Just as well for all you folks down under that our former gold give-away expert Gordon Brown doesn't have the keys to the vault. Was this your gold our queen recently inspected and not ours ? Mmmmm....
 
Photonaware said:
Just as well for all you folks down under that our former gold give-away expert Gordon Brown doesn't have the keys to the vault. Was this your gold our queen recently inspected and not ours ? Mmmmm....
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Maybe France, Germany,Spain ,Italy and other countries do the same as Australia and let the UK look after our gold. I wonder how much the UK holds. I thought the financial genius PM Brown sold the UK gold in the mid 90's.

The Queen should have took a hacksaw to saw some of the bars in half to see if they were real. :)

Regards Errol 43
 
Perhaps some people need to study the planets history a bit to understand why Gold was placed and stored in places like the BOE.

World War 2 may be an excellent starting point.

Gold reserves and their relevance in war times (Example from WW II)

Preserving the gold reserves is of intrinsic value to nations and therefore highly relevant in contexts of crisis and war. A typical example is a secret memorandum by the Chief of staff from October 1939, at the beginning of World War II. The military and the Secret Service laid out "measures to be taken in the event of an invasion of Holland and Belgium by Germany" and presented them to the War Cabinet:
"It will be for the Treasury in collaboration with the Bank of England, and the Foreign Office, to examine the possible means of getting the bullion and negotiable securities into the same place of safety. The transport of many hundreds of tons of bullion presents a difficult problem and the loading would take a long time. The ideal would of course be to have the gold transferred to this country or to the United States of America. [...] The gold reserves of Belgium and Holland amount to about 70 million and 110 million respectively. [Foot]Note: H. M. Treasury has particularly requested that this information, which is highly confidential should in no circumstances be divulged. The total weight of this bullion amounts to about 1800 tons and its evacuation would be a matter of the utmost importance would present a considerable problem if it had to be undertaken in a hurry when transport facilities were disorganised. At present this gold is believed to be stored at Brussels and The Hague respectively, neither of which is very well placed for its rapid evacuation in an emergency."[10]
The Belgian government rushed to get the gold out of the country into a safe place: Dakar. After the Germans had occupied Belgium and France in 1940 they demanded the gold reserve back. French officials took care of the transport and in 1941 handed almost 5,000 boxes with 221 tons of gold[11] over to officials of the German Reichsbank.
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http://en.wikipedia.org/wiki/Gold_reserve
 
The more I think about the appearance of that old sheila on the throne turning up in those vaults looking at gold bars, the more I say something stinks of fish??? :rolleyes: I'm not a conspiracy person but why would one of the highest profile ladies on the planet want to be at this location? and also afterwards comment again about that visit at some media staged event with politicians? :rolleyes: just doesn't add up? Seems some spin doctor(s) is at work here :/ Those royals are puppets so maybe the strings were being pulled again.

Christmas is upon us and she goes to the mint? strange days indeed....
 
Thought I got a glimpse of the stamp on one of these bars and it looked like "TOBLERONE".
Only joking but need something amusing to discuss having just checked the crash in spot today.
Ordered some yellow metal earlier today and obviously lit the blue touch paper.
Nursing an instant loss even before I see the stuff.
 
We have lots of gold. We just haven't dug it out from our backyard yet.

Geoscience Australia said:
Based on estimates provided by the United States Geological Survey (USGS), world economic resources of gold
increased almost 5000 tonnes in 2010 to 51 800 tonnes. Australia, with EDR of 8410 tonnes (16%), had the
largest share of the total, followed by South Africa with 6000 tonnes (12%) and Russia with 5000 tonnes (10%).
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Source: https://www.ga.gov.au/image_cache/GA20563.pdf
 
So each shelf was holding a tonne.

And Australia has 80 tonnes there, so 80 shelves are from Aus :)

I wonder how many shelves there were all up!
 
"I wonder how many shelves there were all up!"



About a dozen, they probably showed the same lot over and over again. And the bars are all plastic!


OC
 
yurana said:
still lots of gold in the ground that will come to surface
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That future gold will not belong to the people of Australia but to the banks ..... to repay the massive debt racked up by Julia tweedle dee and wayne tweedle dum. So much good that will do.
 
Australia produces about 250 tons of the stuff every year and flogs most of it overseas.

The politburo can simply instruct the miners to deliver it all to the RBA at current market value, and stick it in the piggy bank. This will cost the RBA about OZ$14 billion, and can be simply financed by flogging off OZ Treasury Bonds to idiot and overpaid fund managers.

.........Or giving Mr Stevens a ring and printing the required goodies at Warp Speed 10.

Problem solved.


OC
 
Old Codger said:
Australia produces about 250 tons of the stuff every year and flogs most of it overseas.

The politburo can simply instruct the miners to deliver it all to the RBA at current market value, and stick it in the piggy bank. This will cost the RBA about OZ$14 billion, and can be simply financed by flogging off OZ Treasury Bonds to idiot and overpaid fund managers.

.........Or giving Mr Stevens a ring and printing the required goodies at Warp Speed 10.

Problem solved.


OC
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By then more likely financed by your and my superfund and tax - nearly forgot that tiny word! . Gosh they need the gold selling to keep up with the demands of Centre Link. You know iron ore profits are not what they used to be. Where did all that money go ??? Oh yes Wayne's world.
 
The Future Fund and the Superannuation Funds are in grave danger if the politburo can possibly get their hands on it.

As the wise man said, "NEVER get between a (socialist) treasurer and a bucket of money".

Tax has its limits, but a trillion or three can solve a lot of problems, simply by channeling the annual income to the politburo in Canberra.

OC
 
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