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Title: More Transparancy Announced by BoE; How Many Gold Bars Do London Vaults Hold Post by: tyz on August 06, 2017, 12:30:29 PM The Bank of England has announced more transparency on gold stocks. The first report has now been published
The Bank of England holds most of the gold and silver in London, or over 60% of the total gold, and already publishes some details of its holdings. The new LBMA data supposedly also reveals how much private custodians, HSBC, JP Morgan, and ICBC Standard Bank among them, keep in their vaults. The publication of vaulting statistics marks the first step toward the LBMA's promise of greater transparency, which will eventually be enhanced further by trade reporting that is set to also be published later on. respectively. More on Zerohedge (http://www.zerohedge.com/news/2017-08-05/time-its-bubble-rentals) Title: Re: More Transparancy Announced by BoE; How Many Gold Bars Do London Vaults Hold Post by: Hydrogen on August 06, 2017, 02:38:23 PM There could be conspiracy theories regarding how much gold banks actually hold. In many instances they seldom or never do visual inspections. Fort Knox is an example of this where there are conspiracy theories all the gold in Fort Knox was emptied decades ago. Since Fort Knox never does visual inspections to make certain the gold is present, there are many who believe the gold was removed or stolen.
Increased scrutiny of gold holdings could represent creditors demanding better vetting of bank collateral against loans/bailouts. With many banks being crushed chasing credit bubbles down the drain as their investments in toxic assets/derivatives meltdown. Standards to determine liquidity being raised makes a lot of sense in this day and age. |