The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label audit. Show all posts
Showing posts with label audit. Show all posts

Wednesday, February 8, 2017

Did the Shanghai Gold Exchange force London to reveal its reserves and try to compete with a new physical market?

In late 2015, China opened up what would soon become the world's largest physical gold market, leaving both London and New York to hide behind their paper trading futures exchanges.  And as more and more action has moved into the Pacific Rim over the past year and a half, one has to ask the question if this is the reason why London suddenly chose to reveal their physical reserves last weekend, and with the intention of opening up their own physical market to compete with Shanghai?

In a move to increase transparency, London's gold bullion market is considering revealing the amount of bullion held in vaults within the city for the first time in its history. According to recent reporting by the Financial Times, this move would include gold bullion held by the Bank of England as well as other institutions. The leaders in the debate over transparency shifts are the London Bullion Market Association. Why might London be considering such a shift at this point in time, and what could it mean for the future of gold, both in England and around the world? 
According to the report, many of the largest banks around the world are pushing for gold to be traded on an exchange, a marked shift from the current bullion market system. The London Bullion Market Association argues that an exchange would work to convince regulators that "banks trading bullion should not have to face more onerous funding requirements." The reason that this shift is necessary, the Association feels, is that London gold is traded directly between sellers and buyers, meaning that essentially no data of those transactions makes it out into the broader analytical world. The Association has estimated that daily gold trades in London may total $26 billion, although that number is difficult to confirm and there are no official data points to cite. 
The Association believes that moving toward an exchange and documenting the transactions of gold bullion in the city will provide greater transparency. How it might affect the market and the gold bullion prices and trade levels in particular is a bit more difficult to say. If London moves to trade bullion through an exchange, will other cities or countries follow suit? Some analysts believe that this could be the beginning of a much larger trend. - Investopedia
In addition, it is rumored that Dubai is in the process of expanding their physical gold markets following January's inclusion of gold investments into Sharia Law Finance.  And with the potential of millions of new customers seeking to purchase physical gold rather than paper futures, it is likely that several markets will look to cash in on the New Gold Rush, and in doing so will have to forego the years of secrecy that they have cultivated in disallowing true audits of their gold reserves.

Monday, October 22, 2012

Audit the Fed: German courts demand full audit of nation's gold supply

On Oct. 22, the German Court of Auditors voted to demand a full audit of the nation's gold supply, which is currently being held in the Federal Reserve vaults, the Bank of England, and the Bank of France.

This audit demand comes during a time when Germany is standing against the EU's move for an overall banking czar, and when the EU central bank is seeking dominion over the monetary policies of sovereign nations.



The German court of auditors (Bundesrechnungshof) has demanded that the Bundesbank undertake an audit of its gold reserves. In an 'audit-the-fed' style effort, the court wants to ensure that the nearly 3400 tons of gold is in fact in existence - 'because stocks have never been checked for authenticity and weight'. Furthermore, the Bundesbank's gold is stored in three other vaults around the world: The Bank of England, The Bank of France, and the US Federal Reserve. The court questions the practice of relying on a written confirmation from the custodians (foreign central banks). The decision means negotiating with the three foreign central banks for physical verification but in anticipation, the Bundesbank has begun the process of shipping 50 tons per year from the Fed back to Germany for the next three years. -  Zerohedge

Germany, the most solvent and fiscally responsible nation in the European Union, is quickly learning the lesson of 'if you don't hold it, you don't own it', and following in the footsteps os China, Russia, Iran, and other nations seeking to bring their gold under sovereign ownership.