ANZ in Fraud Probe, page-27

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22/11/14

18:15

Post #: 14335927
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Originally posted by kh1961 ↑

Central Bank Liquidates 99% of its Gold
By Geoffrey Pike | Friday, November 21st, 2014

If you ask most politicians — or even central bankers — about the role of gold in society, most will downplay it and say it’s a thing of the past. They believe in central planning, and gold has no role to play there.
This was all summed up well by Alan Greenspan in 1966. He wrote:
“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense — perhaps more clearly and subtly than many consistent defenders of laissez-faire — that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-fair and that each implies and requires the other.”
This was a very different side of Greenspan than what we saw of him as Fed chair, when he was moving stock markets with just a few words and attempting to centrally plan the largest economy in the history of the world.
Even though central planners tend to despise gold, they still have an understanding of its importance. As many central banks have increased purchases of gold, we are arriving at something of a realization that it plays an important role in the global economy.
Even though there are no longer any major currencies backed by gold, central banks still hold gold, most likely as a way to maintain some confidence in their respective currencies. Just as some individuals hold gold as an insurance policy, central bankers do the same so that the public doesn’t lose confidence in their money.
According to statistics showing the amount of gold held by the various countries of the world, the U.S. has over 8,000 tonnes, more than double the next closest, which is Germany.
Of course, these are the reported amounts — we don’t actually know what exists in the vaults. We are taking a few people’s word for it, as there is no full audit done

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If the vaults in NY and Fort Knox were empty, it wouldn't have any affect at all, normal people in society don't even think about it. In terms of the US GDP, the amount of gold the USA owns is chicken-schiff, it's neither here nor there, it wouldn't even pay 25% of the defence budget for a year, only Zerohedge, the Silver Bear Cafe and a few newsletter writers get excited over it.
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ANZ in Fraud Probe, page-27

Top Stories

Week 38 Wrap: US markets panic at 50bp cut; ALS’s minerals revenue slowdown; RBA path unclear

Drilling shows continuous Cu mineralisation at Whundo for Greentech

Tennant Minerals clocks high-grade gold, copper hits at Bluebird in the NT

Firetail executive changes set to propel development in Canada and Peru

Sandfire's latest drill run extends known polymetal mineralisation at the Sesmarias Prospect

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