By Rob Kirby
With a title like, the Rape and Pillage of Humanity, many of you are probably expecting this paper to be a story about greed, power, misplaced trust and abuse in College Football. So if you thought that – you’d be wrong.
Instead, this is tale about greed, power, misplaced trust and abuse in our global monetary system – and what Central Bankers have done to it. In short, they’ve taken us to the showers and had their way with us all.
Background
Back in Oct. 2006, I wrote a paper titled, A Swap Story: Borrowed From The Bank of England. This paper acknowledged the existence of gold quality swaps on the books of the Bank of England – post yr. 2000 - excerpt below:
By: Rob Kirby | Wed, Oct 18, 2006
….In doing a bit of research about the make up of Great Britain's sovereign gold reserves, I ran across this tidbit [footnote on the bottom of page 5 of 8 of the pdf file] regarding different types of gold swaps that the Bank of England presumably utilizes, "Under a gold location swap, gold stored in a particular physical location is swapped with a market counterparty for specified period with gold stored in another physical location. Under a gold quality swap, gold of a particular quality [fineness] is swapped with a market counterparty for a specified period with gold of different fineness. In each case a fee is built into the transaction."
To be honest, until today, I've never heard of a "GOLD QUALITY SWAP". Given the amount of research I've done in this area - I would only offer that this would make a Gold Quality Swap a "rare bird" indeed. But this got me to thinking WHO could possibly be involved in such a transaction if one were to occur.
And With Inclusion In These Footnotes, They Do Occur...
Fundamentally, a Gold Quality Swap would allow the holder of "less than fine" bullion to effectively sell or transact it publicly and remain anonymous. GOLD COIN melt just happens to ALL be 22 carat. Now ask yourself who would possibly care about such a thing?
After all, Central Banks have declared gold a Barbarous Relic, sell it all the time - and usually have news conferences to pre announce up coming sales to boast about them, don't they? So why would a sale of "less than pure" gold need to be kept a secret? The "best fit" / counter party is; the US TREASURY OR THE FED [see argument below] was the other side of these trades. In fact, they are the most plausible counterparty for such a transaction - arising from the great confiscation of gold coin in the U.S. in 1933.
You see, U.S. sovereign gold stocks are alleged to be 8,133 tonnes. The breakdown is as follows;
- roughly 4,500 tonnes of fine gold [400 oz. good deliver bars]
- the balance in less than fine [22 carat] coin melt bars
Why Would The Treasury Keep This So Quiet?
If the U.S. Treasury were "known" to be selling this "melt" gold - disorderly markets could ensue. Remember folks, the U.S. Treasury is alleged to own 4,500 tonnes of fine deliverable gold bars stored at Ft. Knox, Kentucky and West Point, N.Y. If there was need for them to "mobilize" coin melt, it raises an even bigger question mark as to whether or not this 4,500 tonnes of fine gold is still there to sell?
Back in 2006, I speculated that the only logical counterparty for a gold quality swap would necessarily be the U.S. – due to the makeup of sovereign U.S. gold bullion reserves – with large known stashes of confiscated 22 carat coin melt.
Speculation Confirmed
Fast forward to this past Friday, November 11, 2011 in Bill Murphy’s daily Midas commentary at Lemetropolecafe.com – a contributor named Ronan Manley found on a U.N. Treaty website and posted the following regarding gold quality swaps:
Important: US-UK Gold Swap Contract
See attached. This is the gold swap contract between the US Treasury and HM Treasury, 16th January 1981.
finish reading at source: Goldseek.com
