Jan Nieuwenhuijs: It's unlikely China vaults gold at the New York Fed

Section:

11:40a ET Tuesday, June 9, 2020

Dear Friend of GATA and Gold:

Does China store gold at the Federal Reserve Bank of New York?

Voima Gold researcher Jan Nieuwenhuijs today addresses the question and concludes that such storage is highly unlikely.

But Nieuwenhuijs reprints the brief memoir of a former Bank of China official who handled gold and foreign exchange transactions for the Chinese government in the 1980s and in 1983 accompanied government gold flown from Beijing for vaulting at the Bank of England in London.

... Dispatch continues below ...


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The memoir may be most interesting for suggesting that China's government back then was interested in earning money by leasing its gold from the Bank of England.

Nieuwenhuijs' report is headlined "Does the People's Bank of China Store Gold at the Fed in New York?" and it's posted at Voima Gold here:

https://www.voimagold.com/insight/does-the-pboc-store-gold-at-the-fed-in...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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