Chart usGOLD   Chart usSILVER  
 
Food for thought
Markets Clear
J. B. Say  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1289.25-2.32
Silver 19.45-0.02
Platinum 1420.25-1.75
Palladium 865.000.25
WORLD MARKETS
DOWJONES 1697969
NASDAQ 4526-1
NIKKEI 1553682
ASX 562911
CAC 40 4241-14
DAX 9315-20
HUI 2440
XAU 1020
CURRENCIES ($)
AUS $ 1.0805
CAN $ 1.0980
Euro 0.7547
GBP (£) 0.6031
Sw Fr 0.9140
YEN 103.8620
RATIOS & INDEXES
Gold / Silver66.29
Gold / Oil13.78
Dowjones / Gold13.17
COMMODITIES
Copper 3.180.00
WTI Oil 93.540.09
Nat. Gas 3.890.03
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Mexico's audit office tells Bank of Mexico to verify gold held at Bank of England
Published : February 27th, 2013
270 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

Mexican financial journalist and agitator for accountability in government Guillermo Barba reports today that the Mexican government audit office has reprimanded the Bank of Mexico for failing to verify its supposed purchase of $4.5 billion of gold vaulted at the Bank of England. The audit office confirms Barba's complaint last year that the Bank of Mexico had purchased only "paper gold" at the Bank of England and had no idea of the number of bars it had supposedly purchased, nor of the purity of the bars.

Barba writes that the audit office has recommended that the Bank of Mexico "make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and the compliance with the terms and conditions of dealing with this asset." Barba adds that the Bank of Mexico does not want to do this but wants to trust the Bank of England not to play games with Mexico's gold.

Of course this situation is almost identical to the situation that developed in recent months with the gold of Germany's Bundesbank supposedly held in foreign vaults. Barba urges his country to repatriate its gold as a matter of basic national sovereignty just as Venezuela has done and as the Bundesbank has begun to do in tiny steps.

Barba's report is headlined "Mexico's Federal Audit Demands Physical Inspection of Sovereign Gold Holdings" and it's posted in England at his Internet site, Global Financial Intelligence, here:

http://inteligenciafinancieraglobal.blogspot....cos-federal-...

Of course GATA urges its friends in Mexico to make themselves heard in support of Barba and Mexican sovereignty.

Data and Statistics for these countries : Germany | Mexico | Venezuela | All
Gold and Silver Prices for these countries : Germany | Mexico | Venezuela | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Chris Powell
All articles by
Chris Powell
Next article by
Chris Powell
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Chris Powell

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.
Chris Powell ArchiveWebsiteSubscribe to his services
Most recent articles by Chris Powell
8/21/2014
8/21/2014
8/21/2014
8/20/2014
8/20/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer