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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (73354)	7/13/2001 9:15:20 AM
From: long-gone	Respond to of 116756

Has the BoE sold gold that wasn't theirs? -------------------------------------------------------------------------------- Rense.com -------------------------------------------------------------------------------- Britain Sees No Trace Of Cuba's Rumored Lost Gold By Andrew Cawthorne 7-13-1 HAVANA (Reuters) - Britain has discovered no evidence of a massive gold deposit in the Bank of England traced back over four centuries by thousands of would-be Cuban inheritors, a British official said. ``There has been a search by the Bank of England, who have looked through the records, but they can find no trace of any funds, or of the names,'' British Foreign Office Permanent Undersecretary John Kerr said late Wednesday in Havana. His comments put a damper on the frenzy of rumors across this poor Caribbean island that thousands of supposed heirs might have a share in a billion-pound London deposit said to come from gold belonging to a wealthy Spanish nobleman. ``I feel very sorry for people whose expectations are being raised, probably unrealistically. That seems to be sad and cruel,'' Kerr added in an interview with Reuters before heading to Mexico after a two-day official visit to Cuba. History books show that Francisco Manso de Contreras made his fortune capturing gold and other bullion from pirates in the Caribbean during the 17th century, and settled in the town of Remedios on the northern coast of then Spanish-ruled Cuba. According to the legend in Cuba, now repeated by groups of self-proclaimed heirs, the nobleman's three daughters became nuns, had no use for riches, and so the gold was shipped off to the Bank of England in London in the 18th century. Those who claim to be the family's descendants calculate that, with at least a couple of hundred years of interest, the deposit must now be worth various billions of pounds -- a tempting prospect for many Cubans both on the island and in the main exile community of Florida. The ``Manso de Contreras'' gold-fever has been around for years, but seems to have hit new heights this year with unprecedented publicity, rowdy heirs' meetings, and rumors of secret negotiations between Havana and London. ``VERY UNLIKELY'' Kerr insisted, however, there were no grounds for optimism. ``The Bank of England's position is that they can't find it. The British government's position is that it is a legal issue and not a matter for government,'' he said. ``If a legal claim can be established, the law would take its course. I'm afraid it seems very unlikely given that the bank can find no trace.'' President Fidel Castro's government has made no official comment on the issue, though Cubans talk about it everywhere, and fortune-seekers line up every day to check church archives in Remedios that may prove their claim. Many self-proclaimed heirs suspect -- without evidence -- that London may be covering up its use of the money, maybe for colonial wars in past centuries. And a major Miami-based law firm is even reported to be working on the case. ``I know it's a big story out here and people have had expectations raised, I think rather unwisely and rather unfairly,'' Kerr added. ``I'm afraid I at present see no basis for payment and no particular role for government.'' Kerr, who met a host of senior Cuban officials, also mentioned a probable future medical initiative between Havana and London, proposed by Castro's government, to send Cuban doctors to poor nations funded and equipped by rich Western countries. ``We are rather impressed by the standards of medicine here, and it seems to us possible and well worth exploring that we could do some good in the AIDS-struck African countries by a combination of a bit of capital and a bit of equipment from the U.K. and human capital and expertise from Cuba, `` he said. While in Havana, Kerr also helped put the finishing touches on a soon-to-be-signed prisoner transfer agreement between Cuba and Britain, and another accord for the exchange of intelligence on law enforcement matters. He also reviewed Britain's extensive program of cooperation with Cuba in the anti-narcotics fight. sightings.com