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

Mexico's audit office tells Bank of Mexico to verify gold held at Bank of England

IMG Auteur
Published : February 27th, 2013
270 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Crisis Watch

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.

Companies Mentionned : Gold Holdings |
Data and Statistics for these countries : Germany | Mexico | Venezuela | All
Gold and Silver Prices for these countries : Germany | Mexico | Venezuela | All
<< Previous article
Rate : Average :0 (0 vote)
>> 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
Be the first to comment
Add your comment
Top articles
Latest Comments
Iran Agreement Boosts Peace, Def...
26 Julkeith95
How about the US invading Afghanistan in 2001, Iraq in 2003 ... leading to the current unrest in the middle east while supporting the 'Saudi's' ......
Take Possession of IRA Metals We...
24 Julericgolub
Internal Revenue Code 4975 language suggests that whether the gold is held directly by the IRA or by an IRA LLC (which is nonetheless still subject...
Gold Miners Nearing Rebound
24 Julsonora69
Silver has already made a 50 cent down and up round trip as of 3:30. This is happening on a Friday, with the stock markets failing to make an advan...
Why Pensions Are A (Big) Black Swan
25 JulS W.1
No (pensions) are not a black swan, which is totally random unforeseen event.
Iran Agreement Boosts Peace, Def...
23 Julsonora69-2
Doesn't anyone remember the Iran hostage crisis, when Iran held 52 American diplomats and citizens hostage for 444 days in 1979-1981. How about 198...
What Do Greece and Louisiana Hav...
23 Julovertheedge
"The US financial system isn’t any better. ... , Actual currency is just a little over $1.36 trillion. ..." And it is assumed that about h...
Why Are We Here?
23 Julovertheedge1
No "woe is me" here. Just another buying opportunity. Using leverage is not buying, it is borrowing. It ain't bought til it's paid off....
Are Gold Investors Finally Capit...
21 JulDoom
I just don't see capitulation as a possibility. IF you sell gold, you get...what, paper money? Paper money loses a few percent (or more) of it's va...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Sandstorm Gold(Cu-Mo-Au)SSL.V
Files Early Warning Report
CA$ 3.01-6.52%Trend Power :
Corporate news
Crown PointCWV.V
Provides Operational Update and Announces Executive Change
CA$ 0.13+4.00%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Acquisition of the Advanced Zonia Copper Oxide Project in Arizona
CA$ 0.02+33.33%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces Receipt of an Additional A$5.9 Million Net Tax Refund Under the Australian Govern
CA$ 0.36+4.35%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
announces friendly acquisition of Silvercrest Mines
CA$ 4.02-14.10%Trend Power :
Corporate news
Sterling Res.(Oil)SLG.V
Announces Appointment of Strategic Financial Adviser
CA$ 0.16+0.00%Trend Power :
Nominations
Polaris MineralsPLS.TO
Materials announces the opening of its aggregate terminal in the Port of Long Beach, Californ
CA$ 2.17-1.36%Trend Power :
Corporate news
Endeavour Financial(Ag-Au-Co)EDV.TO
Mining to release Q2 results on July 30, 2015
CA$ 0.47-4.08%Trend Power :
Corporate news
Premier Gold Mines(Au)PG.TO
confirms current Reserves & Resources at South Arturo
CA$ 1.87+3.31%Trend Power :
Corporate news
Guyana(Ag-Cu-Ni)GPM.V
GPM Metals Inc. provides an update of The Walker Gossan Project, Northern Territory, Australi
CA$ 0.16+0.00%Trend Power :
Corporate news
Comments closed