The location of Australia’s Gold reserves

[fourandsixpants]

RBA Audits Our Gold Reserves

Two years ago the news was publicly broken ....... that 99.9% of Australia’s Gold reserves are stored by the Bank of England in the United Kingdom......

Given that the RBA has followed the lead of other countries to release reserve location details, perform audits and release (some) bar list details, it will be interesting to see whether they go further and follow the lead of the many countries now deciding to repatriate some or all of their Gold reserves…

http://www.macrobusiness.com.au/2014/12/rba-audits-our-gold-reserves/

Hhhhhmmm. Where is Australia's Gold RESERVE??

......what's left of it, I mean Peter Costello, LNP, Treasurer, sold off a fair whack of it @ $360/oz

In November 1997 the then Treasurer, Peter Costello, shocked some people when he announced he'd signed off on the sale of $2 billion worth of Australian bullion. On the day he announced the sale the price was around $US306.00 an ounce. At the time, according to Mr Costello, gold "no longer plays a significant role in the international financial system".

 two thirds of our gold assets in a single day, and sold into a buyer's market.

http://www.abc.net.au/news/2010-03-05/worth-its-weight-in-gold/351864

[aps1080]

What is the issue ?

Our gold reserves are in the UK or he sold off 2/3 rds of it ?

Location of it is irrelevant.

Selling it off, yes, well

[softail-joanie]

Is Australia on the gold standard with their money? Do they use gold and silver to maintain their currency? Or is it like the feit dollar the US has went to?

I hear things about Russia and China buying up most if not all the world's gold. Really kinda out of my relm as I wouldn't count on government charged with keeping it telling us the truth about where it actually is or went. The way I understand it, it's our children that are caladeral, or ransome for money we obtain and spend. People with a birth certificate is property of the central banks. That birth cirtifacate is regestration, title of ownership.

https://www.youtube.com/watch?v=cfnJ1rOFK7o

.

[aps1080]

What do you mean by "like the feit dollar the US "

Do you mean floating ?

Our currency floats against the rest.

The gold in most places stays where it is, regardless of who owns it.

[softail-joanie]

What do you mean by "like the feit dollar the US "

https://www.youtube.com/watch?v=tGk5ioEXlIM 

https://www.youtube.com/watch?v=lI-Dn7WE7QE

[debra9275]

it was pretty dumb and short sighted to sell off our gold reserves so cheaply wasn't it paints, I think gold reached something like $1500 pr ounce  either last year or this year

[aps1080]

Britain did the same thing, except I think they picked the bottom of the market to sell.

[debra9275]

did we copy them or did they copy us?

[debra9275]

i think we did it first

1997

UK 1999 gold $256-295

[aps1080]

Yes, pretty certain we did it first.