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Central banks won't audit their gold because it's gone or impaired, von Greyerz says

Section: Daily Dispatches

11:35a ET Monday, August 28, 2017

Dear Friend of GATA and Gold:

Central banks forbid independent audits of their gold reserves, gold fund manager Egon von Greyerz notes today in an interview with King World News, because much of that gold is either missing entirely or impaired by leases and swaps. For example, von Greyerz adds, the gold supposedly still being kept in the United States by Germany's Bundesbank rather than repatriated to Germany is probably long gone.

Von Greyerz does not cite it specifically, but anyone who doubts what he says should review the March 1999 secret staff report of the International Monetary Fund, which confirmed that central banks refuse to report their gold swaps and leases because doing so would interfere with their surreptitious interventions in the gold and currency markets:

Von Greyerz's interview with KWN is excerpted here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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