First the Bundesbank, now the Austrians?
The National Bank of Austria is demanding a full audit of Austria’s 150 tonnes of gold reserves on deposit in London at the Bank of England- 80% of the nations total gold reserves, after succumbing to pressure from the Austrian public.
In a public statement, Ewald Nowotny, Governor of the National Bank of Austria stated: “I acknowledge the request. Any grocery store is obliged to do inventory once a year. It is the only way of getting rid of these unreasonable allegations”.
As GoldReporter.de reports:
Austria’s gold reserves stored in London are estimated at 150 tonnes.
Austria is planning to send auditors to the Bank of England in order to verify the existence of Austria’s gold reserves stored in the British vaults.
The Austrian accountability office will sent a delegation to London in order to check on Austria’s gold reserves stored in vaults at the Bank of England. This is reported by Austrian magazine Trend.
The measure is seen as a consequence of growing public pressure.
There is a rising disbelief among Austrians about the existence of their gold. “I acknowledge the request. Any grocery store is obliged to do inventory once a year. It is the only way of getting rid of these unreasonable allegations”, Ewald Nowotny, Governor of the National Bank of Austria tells Trend.
Austria officially owns 280 tonnes of gold of which 17 percent are kept in vaults inside the country.
Around 150 tonnes are estimated to be stored in London. In recent years doubts about the existence and the quality of Germanys monetary gold stored at the New York Fed and the Bank of England were raised by a rising number of sceptics.
In January the Bundesbank eventually announced plans to repatriate most of Gemanys gold reserves until 2020.
So it appears that in the wake of last week’s revelations that Barclays has been manipulating the price of gold, the Central Bank of Austria has suddenly found (gold) religion.
We wonder how soon the central banks of Switzerland, Italy, Australia, New Zealand, and countless other Western nations whose gold reserves have been leased, swapped, and hypothecated to the East over the past decade will realize that the music is finally ending, and there is more than one chair missing from this deadly game being played by the Federal Reserve and the Bank of England.
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