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Bundesbank yields some confidentiality but still won't answer critical questions
10:16p CT Saturday, October 27, 2012
Dear Friend of GATA and Gold:
Zero Hedge tonight calls attention to and mocks a statement given two days ago by Carl-Ludwig Thiele, a member of the Executive Board of Germany's central bank, the Bundesbank, to the German Press Agency (Deutsche Presse-Agentur), that the Bundesbank's gold reserves are stored securely abroad. Zero Hedge notes that the Bundesbank official's statement fails to explain the recently disclosed withdrawal of German gold from the Bank of England:
The Bundesbank's statement further fails to answer the questions GATA long has raised:
1) Does the Bundesbank have gold swap arrangements with any agency of the United States government or any other government?
2) Have such gold swap arrangements ever been implemented and, if so, how and why?
3) Exactly what are the "strategic activities" facilitated by the Bundesbank's placement of the German gold reserves abroad, "strategic activities" admitted by the Bundesbank to the German journalist Lars Schall in December 2010?:
Interestingly, while the Bundesbank told Schall in December 2010 that the identity of the depositories of the German gold and the exact amounts kept at each were "confidential" and could not be disclosed, the Bundesbank's statement to the German Press Agency two days ago discards that confidentiality and identifies the depositories and the amounts of gold kept at each. Apparently enough clamor has been raised in Germany and internationally to show that this claim of confidentiality was not persuasive and has embarrassed the Bundesbank into a tiny bit of accountability.
But so much more accountability remains to be achieved.
Will the Bundesbank disclose its gold swap arrangements? Will the Bundesbank disclose all its gold records and its "strategic activities" in the gold market and explain their purposes? Will Germany ever reclaim its rightful, hard-earned place as a sovereign nation? Why not?
The Bundesbank's statement to the German Press Agency is posted at the Bundesbank's Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet
at Wellgreen Project in Yukon Territory: 5.36 g/t
Company Press Release
Tuesday, September 11, 2012
VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel.
The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace.
Prophecy Chairman John Lee commented: “Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly.”
Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs.
For the complete company statement with full tabulation of the drilling results, please visit:
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GoldMoney adds Toronto vaulting option
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