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Monday, November 26, 2012

The U.S. organization "Gold Anti-Trust Action Committee" doubts that the Austrian gold reserves can be tested reliably

26.11.2012 | 13:19 | (
The U.S. organization "Gold Anti-Trust Action Committee" doubts that the Austrian gold reserves can be tested reliably.

The Oesterreichische Nationalbank (OeNB) last week revealed a lot about the 280 tons of gold to the Republic of Austria ( "The Press" reported ). On which part of the gold reserves but you really can have access, not seen, it is now a U.S. organization. Chris Powell from "Gold Anti Trust Action Committee" (GATA), told the APA: "To know that the bank would have to reveal not only how much she has given up to date, but also whether the gold in assignable or non-assignable accounts held is "."

Can be allocated to gold means that the bars accurately weighed and Seriennnummern provided the owner can be attributed directly and have to be followed upon request. Not definable gold is merely a claim against the institution in stock. In this case, the OeNB had neither the right, nor would there be bars get back a list that could be used for an inventory of the physical assets.

"Examination virtually impossible"

"As a consequence could arise that it is virtually impossible to consider large portions of the gold reserves reliably," says GATA Secretary Powell.
The Austrian Court had announced in the coming year by lighting the National Bank and its foreign exchange reserves, has been left open, however, if the first time also includes the physical gold holdings. The OeNB was forced to admit last week in Parliament that 80 percent of the gold in London are and explains that they have in the past decade, earned 300 million euros with Goldleihegeschäften. After an expert had commented, this suggests wonder that a large part was given, leaked the bank that currently only 16 percent of the stocks concerned. One explanation for the relatively high income from gold lending they did not deliver.

GATA: stored in vaults only half

GATA alleges that Western central banks manipulate the price of gold for decades in order so that their currencies - to support and to maintain artificially low interest rates - especially the dollar. Many of these transactions will be carried out by central banks with material, which have led to real in their vaults encamped only half of the gold, that will officially identified. Critics point to this as "conspiracy theory" back and describe the theories as "far-fetched". GATA published on its Web site but continually official documents and statements to prove the more or less secret central bank interventions.