Jon Nadler on Germany's Gold and the Silver Shortage

Hey Jon the Soviet menace died over 20yrs ago and only now do the Germans think of having a new storage plan?  Hey if I wanted 20% of my gold out of storage I would have already worked out where to put it and hence would want it back right now. The 7 year delay is BS, it surely has to be to allow gold leases to expire and for gold to be called back from the bullion banks. Of course this gold will have to be bought in the open market as these leases expire as the whole point of a gold lease is to sell the metal into the market and capture the spread.

PS. As a rule I never trust a guy who wears shirts made from the satin sheets of a bordello.

From KitcoNews

Even on Australia Day the RBA is happy for Pommies to hold 99.9% of their Gold

The RBA's gold scales sit dreaming of all the gold they have weighted in the past

On the eve of Australia Day I received a reply to my email to the Reserve Bank of Australia (RBA). It seems even on Australia Day, and every other day for the foreseeable future, the RBA is willing to trust a bunch of bankers on a wet miserable little island off the coast of France, who have engaged in QE and are implicated in the LIBOR rigging scandal, to hold 99.9% of their gold. So much for the independent Australian spirit and patriotism.

My email dated 17 Jan 2013:

Good Morning Chris,

I imagine you are aware of the press release by the Bundesbank overnight that they would be withdrawing all of their Gold Reserves from Paris and drawing down on their holdings at the New York Fed.

Reference: http://tinyurl.com/ahsnjtl

Reason given for repatriating this Gold was explained by board member Carl-Ludwig Thiele:

"The two most important functions of the gold reserves are building confidence at home and may, within the shortest possible time to be able to exchange gold at gold trading centres abroad for foreign currencies"

In light of this news is the RBA considering repatriating some of the RBA's Gold Reserves from London to provide confidence at home whilst still having the liquidity that the London market provides?

RBA's reply dated 25 Jan 2013:

Greg

Thank you for your email.

The Bank does not have anything to add to the response provided to you on 19 December.

Regards

Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au

Text of the RBA's email response to me dated 19/12/12:

Thank you for your email.

As at end-June 2011 the Reserve Bank of Australia held 80 tonnes of gold in London Good Delivery bars. The Reserve Bank holds 99.9 per cent of its gold reserves in the United Kingdom at the Bank of England. The remaining 0.1 per cent is held at the Reserve Bank’s Head Office in Sydney.

London is a major global gold trading market and the Bank of England provides a secure and cost-effective storage location for central banks and market participants. The Reserve Bank has processes in place to ensure that the gold reserves are maintained appropriately. It is not considered necessary from management, security or operational perspectives to relocate the gold bars to a facility in Australia.

The Reserve Bank has reviewed its approach to releasing details about its management of the physical reserves of gold and decided to release the above information.

Please note that we answered your previous questions as a routine public enquiry. The FOI Act concerns itself with the release of documents, rather than answering questions, so a request must seek documents to be valid.

Regards

Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au

Alex Jones goes on full auto gun rampage

As many had feared Alex Jones has gone postal, shooting several workmates with a fully auto bubble gun, when will this madness be stopped! I call for a ban on all fully and semi auto bubble guns and to restrict detergent bottles to 10ml.

Story referenced about a 5yo girl being labelled a terrorist for a similar brazen attack can be read here