”This is devastating news to our bankers. Remember that for every ounce of gold, we have 100 oz of paper obligations written on it. Thus a removal of 122 tonnes causes a derivative mess of 12200 tonnes of gold.” – Harvey Organ (1)
”The impact of the Dutch gold repatriation can be huge. First of all, because it underlines more and more countries are getting nervous about their gold reserves stored in the US.” – Koos Jansen (2)
”I think this also explains the 33 tonnes of gold that the U.S. military airlifted out of Ukraine…” (3)
DNB states it has changed allocation policy from 11 % in Amsterdam, 51 % at the FRBNY, 20 % in Canada and 18 % at the Bank Of England (BOE); to 31 % in Amsterdam, 31 % at the FRBNY, 20 % in Canada and 18 % at the BOE. According to the World Gold Council’s latest data DNB has 612.5 tonnes in official gold reserves.
Read the complete article HERE.
$18,000 Gold & U.S. Becomes Third World | Jim Willie
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