The Emperor Has No Gold
2012 11 05

From: Washingtonís Blog

Are Central Banks Overstating their Gold Holdings?

Romania has demanded for many years that Russia return its gold.

Last year, Venezuela demanded the return of 90 tons of gold from the Bank of England.

As everyone knows, the German high court ruled that Germany must audit its gold reserves held in foreign countries such as the U.S., England and France. And German inspectors will actually travel to the New York Federal Reserve Bankís gold depository and the Bank of England to inspect their gold.

Germany will also repatriate 150 tons of gold in order to test it for purity.

Germanyís not the only country. As Zero Hedge notes (quoting Bloomberg):

Ecuadorís government wants the nationís banks to repatriate about one third of their foreign holdings to support national growth, the head of the countryís tax agency said.

Carlos Carrasco, director of the tax agency known as the SRI, said today that Ecuadorís lenders could repatriate about $1.7 billion and still fulfill obligations to international clients. Carrasco spoke at a congressional hearing in Quito on a government proposal to raise taxes on banks to finance cash subsidies to the South American nationís poor.


Some people in the Netherlands want their gold back as well.

Jim Willie says that the gold is gone.

The fact that CNBC head editor John Carney is arguing that it doesnít matter whether or not the Fed has the gold does not exactly inspire confidence.

Gerald Celente notes:

Itís not only Germany (whoís gold is missing), itís the United Sates, itís all of the countries. Nobody knows whatís in Fort Knox. They wonít let anybody in. Whereís the gold in the United States? How come we canít go in and look in Fort Knox?



[...]

Read the full article at: washingtonsblog.com



How Much Gold is in Fort Knox?

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Uh Oh: Germany Wants to SEE its US Gold






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