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Bundesbank plans to sell 600 tons of gold
FAZ.NET ^
| 22. Jan. 2004
| Elise Kissling
Posted on 01/22/2004 3:09:31 PM PST by mjp
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To: jrushing
1 ounce = 0.9114583 ounce [troy]
1 ounce [troy] = 1.0971429 ounce
It would change the value approx. 10%
Still a pretty piece of change...
Semper Fi
21
posted on
01/22/2004 5:53:01 PM PST
by
river rat
(Militant Islam is a cult, flirting with extinction)
To: river rat
1 ounce = 0.9114583 ounce [troy] 1 ounce [troy] = 1.0971429 ounce It would change the value approx. 10% Still a pretty piece of change...
Yes, that would be $7.8B vs appx. $7.1B. Hardly can tell the difference.
22
posted on
01/22/2004 6:06:33 PM PST
by
jrushing
(What goes here? Does anyone know what goes here?)
To: joesnuffy
paper gold -forward sold- deep storage gold-magic mystery gold My guess is Fort Knox gold. U.S. "swapped" gold with Bundesbank and then sold that gold on the open market during the past two years. That way there was no net effect on the U.S. balance sheet (which they refuse to allow to be audited).
Now, I'm betting, the Bundesbank is starting to sell off the swapped gold, which is physically coming from Fort Knox (and the vaults under Republic Nat'l Bank in N.Y). Again, the purpose is to prevent a run on the dollar, and by extension, the Euro.
After all, gold is not priced in dollars, as most Americans think. Instead the dollar is priced in oz. of gold. When gold goes up in price, it is saying that the value of the dollar (and Euro) is going down, that's all.
Get gold. It's the real money and it's not subject to inflation.
23
posted on
01/22/2004 6:56:09 PM PST
by
Siegfried
(Only remaining Freeper that has not read the "Al Quaeda plans to attack NY, Wash, and LA" thread)
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