Thursday, July 10, 2014
   
Text Size

Search our Site or Google

Welcome, Guest
Please Login or Register.    Lost Password?

Mexico to verify gold held at Bank of England
(1 viewing) (1) Guest
Gold & Silver Discussions
Go to bottomPage: 1
TOPIC: Mexico to verify gold held at Bank of England
#22416
Mexico to verify gold held at Bank of England 1 Year, 4 Months ago Karma: 124
Mexico is next in its quest to determine if it has the real thing in the vaults of the Bank of England.

www.gata.org/node/12282

Mexico's audit office tells Bank of Mexico to verify gold held at Bank of England
Submitted by cpowell on Wed, 2013-02-27 02:32. Section: Daily Dispatches

9:30p ET Tuesday, February 26, 2013

Dear Friend of GATA and Gold:

Mexican financial journalist and agitator for accountability in government Guillermo Barba reports today that the Mexican government audit office has reprimanded the Bank of Mexico for failing to verify its supposed purchase of $4.5 billion of gold vaulted at the Bank of England. The audit office confirms Barba's complaint last year that the Bank of Mexico had purchased only "paper gold" at the Bank of England and had no idea of the number of bars it had supposedly purchased, nor of the purity of the bars.

Barba writes that the audit office has recommended that the Bank of Mexico "make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and the compliance with the terms and conditions of dealing with this asset." Barba adds that the Bank of Mexico does not want to do this but wants to trust the Bank of England not to play games with Mexico's gold.

Of course this situation is almost identical to the situation that developed in recent months with the gold of Germany's Bundesbank supposedly held in foreign vaults. Barba urges his country to repatriate its gold as a matter of basic national sovereignty just as Venezuela has done and as the Bundesbank has begun to do in tiny steps.

Barba's report is headlined "Mexico's Federal Audit Demands Physical Inspection of Sovereign Gold Holdings" and it's posted in England at his Internet site, Global Financial Intelligence, here:

inteligenciafinancieraglobal.blogspot.mx.../mexicos-federal-...

Of course GATA urges its friends in Mexico to make themselves heard in support of Barba and Mexican sovereignty.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
debsyl
Mid-Tier Producer
Posts: 958
graphgraph
User Offline Click here to see the profile of this user
The administrator has disabled public write access.
 
#22418
Re: Mexico to verify gold held at Bank of England 1 Year, 4 Months ago Karma: 261
Thanks for the post Debsyl.

Lol! It's obvious that these central banks (and central bankers) are having to be dragged kicking and screaming to get them to do these repatriations and/or audits. And who knows if they will end up as anything other than shams?


Jeff Nielson
Admin
Posts: 13163
graph
User Offline Click here to see the profile of this user
The administrator has disabled public write access.
 
Go to topPage: 1

Disclaimer:

BullionBullsCanada.com is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form