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Mexico to audit its gold holdings at the Bank of England
The Voice of Russia ^ | February 28, 2013

Posted on 03/01/2013 9:49:20 PM PST by JustTheTruth

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Chavez of Venezuela was the smart one to ask for his gold back first. Germany asked for a fraction of its gold back and was told it would be sent in dribbles over time from now through 2020.

Let's just hope that Mexico ensures that the gold being audited has not been leased out and is not encumbered or pledged (or hypothecated) in any way.

Those countries that are too slow in moving to repatriate their gold reserves will instead end up holding rotting, devaluing currencies instead of gold: sound money that can't be created in endless amounts out of thin air!

1 posted on 03/01/2013 9:49:24 PM PST by JustTheTruth
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To: JustTheTruth

The EU and the IMF sold huge amounts of gold to China to fund their bailouts and liquidity problems. The Chinese do not take warehouse slips but insist on physical delivery. The Mexicans and others are right to be concerned if “their” gold is still in European repositories.


2 posted on 03/01/2013 9:55:24 PM PST by allendale
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To: JustTheTruth

This repatriation of the gold that nations claim will soon lead to the unwinding of the world’s currencies. The value of gold is a myth, tied up in old claims that have never been resolved. This final resolution will no doubt eventually lead to war.


3 posted on 03/01/2013 10:04:52 PM PST by batterycommander (a little more rubble, a lot less trouble)
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To: JustTheTruth

That would be better than gold plated tungsten in what way?


4 posted on 03/01/2013 10:08:17 PM PST by Figment
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To: jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug ping.


5 posted on 03/01/2013 10:10:48 PM PST by Jet Jaguar
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To: JustTheTruth

Just because it is there doesn’t mean it hasn’t been sold to three or four other parties, or leased to a fourth. If Mexico wants its gold, it needs to build a vault in Mexico and move it there.


6 posted on 03/01/2013 10:24:09 PM PST by Vince Ferrer
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To: JustTheTruth

The Spanish Empire is the textbook example of why hoarding gold isn’t a ticket to long term prosperity for a nation. The true wealth of a nation isn’t even “natural resources”, it ultimately lies in the quality and nature of its people.


7 posted on 03/01/2013 10:32:16 PM PST by SpaceBar
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To: SpaceBar

very nice and people affirming....but a nations natural resources come in closed second....just ask Norway. Germany has very productive people and runs a trade surplus, and at the same time are very practical about gold. their central bank is number four in gold reserves and holdings


8 posted on 03/02/2013 12:49:48 AM PST by dennisw (too much of a good thing is a bad thing --- Joe Pine)
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To: Jet Jaguar

There has already been a physical inspection with the counterparty that has the gold under its custody in recent weeks. The question is not whether something is really down there, but rather how many times that the something has been sold, leased, hypothecated and rehypothecated ... and to whom ... or in other words, who actually owns the stuff ... and nobody will ever know the answer to that question until the barbarous relic is actually repatriated. Until then, I kind of enjoy watching the idiots squirm as they try to reassure the ignorant peasants that all is well.

9 posted on 03/02/2013 1:50:31 AM PST by Zakeet (Democracy is the art and science of running the circus from the monkey cage - Mencken)
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To: Zakeet

There has already been a physical inspection with the counterparty that has the gold under its custody in recent weeks. The question is not whether something is really down there, but rather how many times that the something has been sold, leased, hypothecated and rehypothecated ... and to whom ... or in other words, who actually owns the stuff ... and nobody will ever know the answer to that question until the barbarous relic is actually repatriated. Until then, I kind of enjoy watching the idiots squirm as they try to reassure the ignorant peasants that all is well.


I see... Much like the CDO’s using Mortgage backed securities? The end result I suppose is whoever has physical possession is the owner?


10 posted on 03/02/2013 4:47:59 AM PST by The Working Man
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To: JustTheTruth

Germany asked for a fraction of its gold back and was told it would be sent in dribbles over time from now through 2020.


I hear alarm bells going off!

If it is to be sent in “dribbles” that clearly means that (1) the English have used it for collateral for other loans or (2) that they don’t have all of it.


11 posted on 03/02/2013 4:51:04 AM PST by DH (Once the tainted finger of government touches anything the rot begins)
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To: Zakeet

Now, just why would the Bank Of England want to trot out the Old Gal and Himself for a photo op pertaining to this particular issue, lol? Their role is ceremonial.

The word “hypothecated” is interesting, too. Hypothetical. No real heft, largely ... ceremonial. Still pretty expensive though. Just like the royals.

Somebody has a mean sense of humor.


12 posted on 03/02/2013 5:02:05 AM PST by RegulatorCountry
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To: DH

Not the English.

Us.


13 posted on 03/02/2013 5:03:21 AM PST by RegulatorCountry
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To: JustTheTruth

The highest-stake game of musical chairs in the history of civilization has begun.


14 posted on 03/02/2013 5:10:18 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: Zakeet

That’s Queenie checking out her stash.


15 posted on 03/02/2013 5:16:46 AM PST by dennisw (too much of a good thing is a bad thing --- Joe Pine)
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To: Zakeet

That’s Queenie checking out the Royal Stash.


16 posted on 03/02/2013 5:17:27 AM PST by dennisw (too much of a good thing is a bad thing --- Joe Pine)
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To: JustTheTruth

This is probably the definitive explanation of the coming monetary collapse:

http://www.silverdoctors.com/jim-willie-gritty-questions-on-the-historic-collapse/#more-22339


17 posted on 03/02/2013 5:28:09 AM PST by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: SpaceBar

Spain did not hoard the gold removed from the Americas. The gold was traded away to China and the east for stuff.
Spain spent the gold on high living


18 posted on 03/02/2013 5:28:14 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: bert

Spain brought over so much gold and silver it lead to European inflation. They were able to inflate the money supply w gold. These days the money supply is inflated by conjuring up fiat money out of thin air. FR says — “We deem X amount dollars now exist on hard drive Y”


19 posted on 03/02/2013 5:35:28 AM PST by dennisw (too much of a good thing is a bad thing --- Joe Pine)
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To: SVTCobra03
the attack on Mali to wrest its gold for German repayment,

Now that's an interesting thought. If that were truly the reason for the French invasion then Burkina Faso would probably be next on the list.

20 posted on 03/02/2013 5:40:51 AM PST by Pan_Yan
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