As opposed to “SECRET Gold”
Revealing the hidden manipulations of governmental and financial institutions leads us to the GOLD.
Loaning and Insuring GOLD…
Derivatives, Leveraging, and Monetizing GOLD…
Accounting, Shipping, and warehousing physical GOLD…
Wars and global domination cost a lot of GOLD and there lies the secrets…
Austrian Press Agency cites GATA in report on possible audit of Austria’s gold
Submitted by cpowell on Mon, 2012-11-26 17:45. Section: Daily Dispatches
12:43p ET Monday, November 26, 2012
Dear Friend of GATA and Gold:
The Austrian Press Agency today cited GATA at length in its follow-up story about the status of the Austrian central bank’s gold and the possibility of an audit. The story has been published by the Austrian national newspaper Die Presse in Vienna —
— and as well as by other Austrian news organizations:
A translation of the APA story by our friend the German freelance journalist Lars Schall is appended.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Auditors Could Fail in Taking Reliable Inventory of Austrian Gold
The U.S.-based organization Gold Anti-Trust Action Committee alleges that Western central banks have manipulated the price of gold for decades.
By Austrian Press Agency
via Die Presse, Vienna
Monday, November 26, 2012
The Oesterreichische Nationalbank (OeNB) last week revealed a lot about the 280 tons of gold held by the Republic of Austria, but to which part of it they really have access is hard to identify, according to a U.S. organization that has been working for 15 years on the international gold market.
“In order to know that, the bank would have to disclose not only how much it has lent out up to date, but also whether the gold is held in allocated or unallocated accounts,” Chris Powell of the Gold Anti-Trust Action Committee (GATA) told APA over the weekend.
Action Committee” doubts that the Austrian gold reserves can be tested reliably
Can be allocated to gold means that the bars accurately weighed and Seriennnummern provided the owner can be attributed directly and have to be followed upon request. Not definable gold is merely a claim against the institution in stock. In this case, the OeNB had neither the right, nor would there be bars get back a list that could be used for an inventory of the physical assets.
“Examination virtually impossible”
“As a consequence could arise that it is virtually impossible to consider large portions of the gold reserves reliably,” says GATA Secretary Powell.
The Austrian Court had announced in the coming year by lighting the National Bank and its foreign exchange reserves, has been left open, however, if the first time also includes the physical gold holdings. The OeNB was forced to admit last week in Parliament that 80 percent of the gold in London are and explains that they have in the past decade, earned 300 million euros with Goldleihegeschäften. After an expert had commented, this suggests wonder that a large part was given, leaked the bank that currently only 16 percent of the stocks concerned. One explanation for the relatively high income from gold lending they did not deliver.
Max Keiser: Global political issue of owning gold and silver
“…plans by Germany to force European nations to use their gold reserves as collateral.”
We can expect the current manipulated and inflated bubble (derivatives, shadow banking, bonds, sovereign debt and below zero interest rates) to burst and a massive wave of defaults and bankruptcies to follow; allowing yet more looting for the central bankers as they grab real assets on the cheap and customers left out in the cold with another broken promise to pay them or return their assets.
“Future Generations Have To Deal With The Financial Carnage”
During the off-hours on Sunday, when few people were willing to ruin whatever remained of their weekend and when even astute observers weren’t supposed to pay attention, the National Association of Insurance Commissioners approved new rules that would allow life insurance companies to lower their reserves for future claims—at the worst possible time—having already forgotten all about the financial crisis.”