You are here
Austria celebrates gold repatriation but really isn't coming clean
8:15p Saturday, December 12, 2015
Dear Friend of GATA and Gold:
Reporting today that Austria's central bank has produced an explanatory video celebrating its repatriation last week of 15 more tonnes of gold from the Bank of England --
http://www.gata.org/node/16023
-- Zero Hedge contrasts this openness with the secrecy the United States continues to weave around its gold reserves:
http://www.zerohedge.com/news/2015-12-12/austria-proudly-shows-15-tons-g...
But don't cheer the Oesterreichische Nationalbank too much. For at the London Bullion Market Association conference in Vienna in October, the bank's executive director, Peter Mooslechner, volunteered to a uncurious reporter that the bank is aware of surreptitious interventions in the gold market by other central banks and then shut himself up in his office, or was shut up there by his superiors, when another financial journalist sought elaboration:
http://www.gata.org/node/15897
Zero Hedge writes that in repatriating more of its gold Austria "was implicitly confirming that trust is now very publicly fraying at the highest levels of the international monetary system." But that's not how Austria's central bank puts it.
No, like other central banks, Austria's believes that matters determining the valuation of all capital, labor, goods, services, and currencies in the world are really none of the world's business.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
http://www.goldmoney.com/?gmrefcode=gata
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
https://jeffersoncompanies.com/landing/2014-av-powell
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
