You are here
Central banks won't audit their gold because it's gone or impaired, von Greyerz says
11:35a ET Monday, August 28, 2017
Dear Friend of GATA and Gold:
Central banks forbid independent audits of their gold reserves, gold fund manager Egon von Greyerz notes today in an interview with King World News, because much of that gold is either missing entirely or impaired by leases and swaps. For example, von Greyerz adds, the gold supposedly still being kept in the United States by Germany's Bundesbank rather than repatriated to Germany is probably long gone.
Von Greyerz does not cite it specifically, but anyone who doubts what he says should review the March 1999 secret staff report of the International Monetary Fund, which confirmed that central banks refuse to report their gold swaps and leases because doing so would interfere with their surreptitious interventions in the gold and currency markets:
Von Greyerz's interview with KWN is excerpted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
USAGold: Coins and bullion since 1973
USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
* * *
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: