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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: scotty who wrote (75238)11/12/1999 4:26:00 PM
From: pater tenebrarum  Read Replies (1) of 86076
 
Scotty, there are the strangest rumors surrounding the BoE, one holding that they will stop auctioning off their gold, because they actually don't have it anymore. it's all been lent out. rumor has it that Goldfields when insisting on the delivery of the 12,5 tons it bought at the last auction was offered a piece of paper instead, which it refused to accept. enter the Bank of Kuwait with it's 79 tons. now i don't know if this is true, but it certainly sounds plausible in view of the fact that there are at least 2 CB's (Australia's and Denmark's) that haven't even one ounce of their reserves left in their vaults. it's all been lent out. the same may actually be the case with most of the Euro zone gold reserves, which explains the ECB's decision to stop the leasing practice. there is simply nothing left to lease, and probably they'll go to the Emir of Qatar next....<ggg>
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