Sunday, January 23, 2011

Egyptian leadership stashing a golden parachute?


After a week ago we learned that the central bank of Tunisia had parted with 23% of its gold stash courtesy of now deposed president who fled the country with a 1.5 ton shipment of gold, it appears that Egypt is preparing for a comparable spike in revolutionary activity. Only unlike the now former Tunisian president whose gold sequestering actions were retroactive and thus, quite lucky to succeed, Egypt has taken proactive measures. According to Egypt News, the country's airport has intercepted 59 shipments of gold directed for the Netherlands "worth tens of millions." The gold, as well as an indeterminate amount of foreign currencies, was hidden in pillow cases: uh, cotton may not show up on X-Rays, but gold sure does. We eagerly await to learn how big the decline in the country's official holdings 75.6 tonnes of gold will be after this most recent episode confirming that gold is precisely money. And all this happening despite gold's complete and thorough inedibility.


The Cairo airport authorities announced today the state of emergency to reexamine the expulsion of 59 gold and foreign currencies was on its way to get out of Egypt today by smuggling after the discovery of tearing down some اكياسها before shipment to the Netherlands.

The freight on Dutch plane bound for Amsterdam were surprised by tearing down two bags within 59 a parcel containing large quantities of gold and foreign currencies worth tens of millions have been reported to officials.

It was the formation of a committee headed by an official of one of the Egyptian banks of the parcels were re-examination of parcels and make sure that no shortages and supervision of shipping on the plane.

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