Australia has no gold

Reserve Bank of Australia

After a campaign throughout 2012 to seek clarity in regards to the location of Australia’s Gold Reserves the Reserve Bank of Australia (RBA) has confirmed today in an email to me that 99.9% of their Gold Reserves are held in the gold vault of the Bank of England.

Please read below for the text of the RBA’s email response to me dated 19/12/12:

Thank you for your email.

As at end-June 2011 the Reserve Bank of Australia held 80 tonnes of gold in London Good Delivery bars. The Reserve Bank holds 99.9 per cent of its gold reserves in the United Kingdom at the Bank of England. The remaining 0.1 per cent is held at the Reserve Bank’s Head Office in Sydney.

London is a major global gold trading market and the Bank of England provides a secure and cost-effective storage location for central banks and market participants. The Reserve Bank has processes in place to ensure that the gold reserves are maintained appropriately. It is not considered necessary from management, security or operational  perspectives to relocate the gold bars to a facility in Australia.

The Reserve Bank has reviewed its approach to releasing details about its management of the physical reserves of gold and decided to release the above information.

Please note that we answered your previous questions as a routine public enquiry.  The FOI Act concerns itself with the release of documents, rather than answering questions, so a request must seek documents to be valid.

Regards

Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au

 

I would like to thank Bullion Baron for their assistance in this matter and the encouragement and support of management and several clients of ABC Bullion, Sydney.

If you wish to view some of the gold stored in the Bank of England gold vault and see probably one of Australia’s gold bars watch this recent video tour of the vault.

[youtube height="400" width="550"]http://www.youtube.com/watch?v=CTtf5s2HFkA&feature=player_embedded[/youtube]

 

Source: http://ausbullion.blogspot.com.au/2012/12/reserve-bank-of-australia-admits-999-of.html


4 comments

  1. I’m sure that the BOE has leased it to a bullion bank,melted it down, hypothecated it, rehypothecated it, leased it out to Chinese, Indian and middle eastern clients, remelted it , turned into jewelly bullion bars and ETFs. So what’s to worry about. There’s some pieces of paper to say we’ll get it back. Such cynical readership here. The RBA has it all under control here. This is much better than storing in one of our bank vaults. Us convicts can’t be trusted like those English bankers.

  2. Hyper real estate credit bubble in process of imploding also.

  3. And their banking system is completely bankrupt !!!!!!!!!! Many trillion dollars of bad debts backed by an economy 100% dependent on volatile natural resources. I cant wait seing this NWO australian scumbags going down the drain with UK, USA and Canada. The more NWO USA neocon Nazi controlled a country is, the less it has gold. Spain also did not have gold before it imploded into total chaos. Australia and Canada it will soon be your turn.

  4. Like the scumbags in Canada. Australia is NWO shit. So is Canada by the way, These two countries in reality never existed. Australian government was always a fiction like the one in Canada.

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