Gold "audit" RBA
- Thread starter Shlomo Goldberg
- Start date
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....
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.
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.
bars that size need ultrasound for sure.
Funny that a very minor party senator or in the case of Adams/North is left to hold the RBA & federal government to scrutiny.
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.
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.
What "secret fractional reserve lending scheme" are you referring to?
It all seems somewhat "pathetic" to me..... https://www.rba.gov.au/qa/gold-holding.html
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?
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?
The audit report is worth a read https://www.rba.gov.au/qa/gold-verification.html I found the bar listing quite informative from a historical perspective.
The information about Gold lending activities is also good to critically evaluate and ask further questions https://www.rba.gov.au/qa/gold-holding.html
The information about Gold lending activities is also good to critically evaluate and ask further questions https://www.rba.gov.au/qa/gold-holding.html
Golden ChipMunk
Well-Known Member
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."
Interesting articles to read.
99.9 per cent, LOL