Monday, October 22, 2012

German auditor office urges central bank to control gold reserves held in US, France, Britain

My critics can kiss my ass--again.  I couple years ago, I suggested Germany demand a repatriation of their official gold reserves vaulted in New York--firstly, to see if it really is there, and secondly, to see if the amounts are correctly accounted for, and not re-hypothecated to various counterparties.  Bam!!!  Today, Bloomberg and the Associated Press, the Germany auditor is doing exactly that.

Guess what, boys and girls?  Official government gold reserves worldwide have been over-counted, and there will be numerous reports of "missing" gold.  That's been my position all along, and my suspicions are beginning to materialize.  Venezuela saw the writing on the wall--and demanded to have their gold reserves repatriated from the US and the UK.  It look New York and London weeks to fill Hugo Chavez's repatriation demands.

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