Gold Reserves: Where is the gold?

Gold Investment - 3 October 2011

Investors from a variety of countries are starting to query where the gold reserves are of their respective countries. It has become patently obvious that more than one central bank are lying to the public about their gold reserves.

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Holland, South Africa and Germany are examples of countries as mentioned above. This while a country’s gold reserves should be stored in the vaults of its national bank (or central bank), especially during times of peace, as it is meant to back the paper money (fiat money, electronic money) of that country. If not, is it not a classic case of the “paper gimmick” being deployed, isn’t it? Investors are not only concerned about where the gold is. They have numerous other questions about the gold as well. Investors are querying the amount of gold that is being borrowed and why are gold receivables and gold an one line item. This global awareness is good as it forces national banks (central banks) to come clean on these issues, although in most instances a proverbial brick wall, to state it mildly, is hit time and time again when concerned investors or citizens want to get to the bottom of this.

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In the case of South Africa it is believed that very little gold is left in the huge vaults of the South African Reserve Bank (SARB). It is alleged that since 1994 the bulk of South Africa’s gold reserves have been moved to vaults in undisclosed locations overseas. In fact, the bulk of South Africa’s gold reserves might be stolen for all practical reasons.

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