Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
In the same category

Just coincidence? Queen is trotted through Bank of England's gold vault

IMG Auteur
Published : December 17th, 2012
418 words - Reading time : 1 - 1 minutes
( 6 votes, 5/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...

 

 

 

 

Maybe it's just a coincidence but maybe instead it's a propaganda campaign launched by the British government and the Bank of England to assuage growing international concern about the oversubscription, lending, and swapping of Western central bank reserves.

First, a few days ago, the Bank of England invited videojournalist Brady Haran and University of Nottingham chemistry Professor Martyn Poliakoff to tour its gold vault for a fascinating lecture in which the professor discussed gold's remarkable qualities. (Of course gold's most remarkable quality, politely overlooked by the professor, may be its capacity to replicate itself to infinity in the hands of a central bank -- just like ordinary money.) The Guardian's report of the tour, along with a link to the video made about it, is here:

http://www.guardian.co.uk/science/grrlscientist/2012/dec/10/1

And then today the Bank of England welcomed Queen Elizabeth II herself for an even grander tour of its gold vault, which attracted all the major British news organizations and instantly became a sensation throughout the United Kingdom.


The Telegraph's story is here:

http://www.telegraph.co.uk/news/newsvideo/royalfamilyvideo/9742780/Queen...

The Evening Standard's is here:

http://www.standard.co.uk/news/uk/dont-do-it-again-prince-philips-advice...

But perhaps most interesting is the Daily Mail's account, since it is accompanied by the most photographs and is headlined with what may have been meant as a bit of a joke but what actually is the crucial question of the hour, never officially asked: "How Much of This Is One's Own Gold?":

http://www.dailymail.co.uk/news/article-2247578/How-ones-gold-Queen-insp...

How much indeed? For as recently as last year the Bank of England insisted on secrecy for its gold market activities, including leasing, which the bank said it discontinued in 2007; swapping, on which the bank did not comment; and transactions involving other central banks whose gold is vaulted or said or thought to be vaulted at the Bank of England:

http://www.gata.org/node/10778

Of course one can't expect the queen to be familiar with such obscure detail. She has spent her life not studying economics but, far more tediously, gladhanding for the British government, and when she was trotted through the gold vault today it was her job to accept the most superficial and patronizing answers from bank officials about how the disaster in the world financial system could have been allowed to happen. But they did let her see the gold -- somebody's gold anyway.

Now if only the queen could get an invitation to tour Fort Knox. Could those Australian radio pranksters be persuaded to do just one more royal impersonation in a phone call to the Treasury Department? Or would that risk Secretary Geithner's suicide?

 

 

Data and Statistics for these countries : United Kingdom | All
Gold and Silver Prices for these countries : United Kingdom | All
<< Previous article
Rate : Average note :5 (6 votes)
>> Next article
Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
WebsiteSubscribe to his services
Latest comment posted for this article
I'm still awaiting the day when the Fort Knox gold plated tungsten bars are offered on e-bay with a 99c starting bid plus $50 carriage each ! Read more
Artboard - 12/17/2012 at 7:12 PM GMT
Top articles
Latest Comments
First Report since April, 2014
05 FebAndy_K1
Jason, One of your articles written way back is one of the reasons I started paying attention to silver and shortly thereafter started to ...
Something has Changed in Gold St...
06 Febneville
No nothing strange has happened in GOLD stocks....absolutely nothing.....The fact of the matter is that you byrne have been playing the man and...
The Revisionist Theory and Histo...
05 Febovertheedge
"The key is in the hand of the U.S. government. It is the same key that was used to lockthe U.S. Mint to silver in 1873, and to gold sixty years la...
First Report since April, 2014
05 FebS W.1
Here I was just 2 days ago thinking whatever happened to that evangelical silver guy. Low and behold up he springs, like some spirit from the g...
LBMA Silver “Price”: A Perfect S...
03 FebS W.
There is no doubt that the Comex can be used as a casino for those who want to trade Silver up/or down or maybe some just wish to take a small punt...
LBMA Silver “Price”: A Perfect S...
30 JanOzSILV1
Bron refuses to EVER admit this market is a Casino and the disconnect between Paper and Physical is a big clue to this
LBMA Silver “Price”: A Perfect S...
30 JanS W.
Usually I enjoy Bron's take on things,but to be perfectly honest, I can't understand 95% of what he his on about here. I get the feeling that h...
ANOTHER NAIL IN THE U.S. EMPIRE ...
30 JanDemosthenes0
Very naive and pretentious article! The author thinks he knows everything and yet knows next to nothing. Shale gas producers are neither stupid n...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Lara Expl.(Cu-Zn-Au)LRA.V
Revised Resource Estimate Report Filed for Maravaia Copper Gold Deposit
CA$ 0.34+1.47%Trend Power :
Corporate news
Black HillsBKH
Black Hills reports 4Q loss
US$ 50.90-0.59%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
Gasoline Inventories Rose Last Week despite Fall in Production
US$ 22.66-4.31%Trend Power :
Corporate news
United States Steel(Fe-Sn)X
U.S. Steel (X) States Ratification of Labor Agreements
US$ 7.34-5.53%Trend Power :
Corporate news
Black HillsBKH
4:34 pm Black Hills Corp beats by $0.04, misses on revs; guides FY16 EPS below consensus
US$ 50.90-0.59%Trend Power :
Corporate news
Black HillsBKH
Black Hills Corp. Reports 2015 Fourth Quarter and Full Year Results
US$ 50.90-0.59%Trend Power :
Corporate news
Transcanada PipelinesTRP.TO
TransCanada to Sign Substantial Agreement to Benefit Québec Economy
CA$ 48.65+0.16%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
4Q15 Crude Oil Prices: Fallout for the Energy Sector and SPY
US$ 22.66-4.31%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
I'm still awaiting the day when the Fort Knox gold plated tungsten bars are offered on e-bay with a 99c starting bid plus $50 carriage each !