Short and Sweet

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$200 billion in gold sits beneath
the streets of London

“One historical nugget of note: During WWII, the vaults served as bomb shelters. By that time, though, the gold they held had been secretly shipped to Canada, in case the Nazis overran London. ‘It’s all very James Bond,’ says the Sun of the relatively old-school security still in effect—access involves 3-foot-long keys. ‘You can’t visit the gold, of course,’ observes a post at Atlas Obscura.” – Luke Rodney, Newser

USAGOLD note:  The Canada shipments seem to be much rigmarole over a barbarous relic, one would think. Here’s a photo of Queen Elizabeth amidst all that gold in December 2012 – a relic no more, but a very present and important component of reserves in nearly all the primary developed economies.  The World Gold Council recently reported the strongest demand for gold among central banks in 50 years. Britain once owned one of the largest gold hoards on Earth, but most of the gold in this room belongs to other countries who deposited it with the Bank of England.