Chris, I'd like to caution you and other readers of one immutable fact:
The Bank of England wears TWO gold hats...
1) The U.K. realm's national respository for "in house-gold" gold hat
2) The repository for "other nations' gold" gold hat.
While this dude Skolnick can't rant and rave all he wants about conspiracy this and $200 billion shortage that, we have NO concrete, differentiation as to which side of their golden utterances' mouth, the BoE is really speaking, i.e., the hat they are really wearing in any PAST auctions, let alone any FUTURE auction. Nor do I harbor any illusions that we (OR HE) will EVER know.
Does not this thread remember that Kuwait shipped their measly 79T to LONDON to help the September POG rally crisis at the NY Fed's behest???
And any repeated reading of S's rant about BoE does NOT specify that HE knows the difference between the TWO gold hats the BoE wears in the secretive world of gold, b/c I don't think he knows either. Otherwise, he'd specify which "gold pile" he's kvetchin' about when he rants!!!
Suffice it to say that our F/R turned ON the phoney phfiat Dollar presses to head off Y2k, and printed just about enough, currently ON our M-1,2,3 books acc'd to the St. Louis F/R branch responsible for tracking this printed, versus destroyed statistic, to bail out Mr. Skolnick's poor old beleagured BoE and not bat an eyelid.
If any on this thread need to have a refresher course on the BoE dual hatted role in all this gold auctions crap that is just so much more noise in the gold S&D picture frankly,
I'll be happy to dig up the URL/article that I posted on this very topic TO this very thread earlier last year for review.
And if ANYONE thinks all that freshly printed currency is going to be destroyed, or whatever, they are sadly mistaken. It probably is just going to be refunneled through that mysterious, off the ledger Foreign Exchange Stabilization fund that first came to light when Rubin pulled it out of thin air during the Mexican crises several years back.
Think about it folks, as long as we are printing it night and day, someone will hide it, spend it, swap it or shred it. It is just a fact of life.
Gimme Gold, ANYDAY!
O/49r |
