http://silvervigilante.com/mexico-gold-reserves/
Last year the Bank of Mexico did not reveal the location of its gold reserves for national security purposes. This came after it purchased 93 tonnes of gold. The Federal Transparency Law in Mexico, however, has forced Banxico to state the amount of its gold holdings as well as the names of its custodians and the locations of where its gold holdings are held. The bank refused time-and-time again to release the information, but has been compelled to do so by the “Department of Management for Rules Control.”
Banxico claimed that revealing the location of its gold would “harm the financial, economic or monetary stability of the country.” Here are some of the facts regarding the
disclosure:
- “At month’s end, April 2012, Banco de Mexico maintained a position in fine gold of 4,034,802 ounces, of which only 194,539 ounces are located in the territory of the United Mexican States.”
- Banxico “has been informed and knows the specific location of the gold position that forms part of its reserve of International assets”
- The countries where these reserves are located are “United States of America, England and Mexico.” And also, “the acquisitions of gold during March and April 2012 are under custody in England”.
- And besides, it is precisely there in “the city of London, England, where more than 99% of the gold which the Bank of Mexico maintains outside the country is presently under custody…”
Of Mexico’s gold:
94.23% are stored in London, BoE
4.82% are stored in Mexico
and 1% is stored in the NY Fed
In the central bank’s latest communiqué it stated it has currently no interest in transporting the bars: “The Bank of England is one of the world’s most important custodians of gold, for which reason maintaining our gold position with this institution minimizes the costs of storage and transfer of gold.”
Perhaps what Mexico means by this is that it is bound by the Empire of the North and its allies to hold its metals with the Cartel. That means that the Mexican people are being bent over by its government, to kowtow the globalists party-line. In other words, London and NY remain the core and Mexico is the periphery.
As ZeroHedge covered,
Germany has concerned itself over the safety of its gold reserves, held in the custody of the victors of World War II, the US, and other countries.
German lawmakers are to review Bundesbank controls of and management of Germany’s gold reserves. Parliament’s Budget Committee will assess how the central bank manages its inventory of Germany’s gold bullion bars that are believed to be stored in Frankfurt, Paris, London and the Federal Reserve Bank of New York, according to German newspaper Bild.
The German Federal Audit Office has criticised the Bundesbank’s lax auditing and inventory controls regarding Germany’s sizeable gold reserves – 3,396.3 tonnes of gold or some 73.7% of Germany’s national foreign exchange reserves.
There is increasing nervousness amongst the German public, German politicians and indeed the Bundesbank itself regarding the gigantic risk on the balance sheet of Germany’s central bank and this is leading some in Germany to voice concerns about the location and exact amount of Germany’s gold reserves.
The eurozone’s central bank system is massively imbalanced after the ECB’s balance sheet surged to a record 3.02 trillion euros ($3.96 trillion) last week, 31% bigger than the German economy, after a second tranche of three-year loans.
The concern is that were the eurozone to collapse, Bundesbank’s losses could be half a trillion euros – more than one-and-a-half times the size of the Germany’s annual budget.
In that scenario, Germany’s national patrimony of gold bullion reserves would be needed to support the currency – whether that be a new euro or a return to the Deutsche mark.
The German lawmakers are following in the footsteps of US Presidential candidate Ron Paul who has long called for an audit of the US’ gold reserves.
It is believed that some 60% of Germany’s gold is stored outside of Germany and much of it in the Federal Reserve Bank of New York.
Germany and other central banks may follow in Hugo Chavez’s footsteps and repatriate their gold to Germany so as to have direct possession of and ownership of their gold reserves in order to be better prepared for a systemic or monetary crisis.
Jim Rickards has outlined possible plans by the Federal Reserve to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Federal Reserve in the event of a dollar and monetary crisis leading to intensified “currency wars” and the ‘nuclear option’ of a drastic upward revision of the price of gold and a return to a quasi gold standard is contemplated by embattled central banks to prevent debt deflation.
And Switzerland wishes to “save” its gold:
As Silver Vigilante
covered last year, Hugo Chavez had Venezuela’s gold returned to the country:
Venezuela’s president Hugo Chavez has lost confidence in western markets, in particular the international mega-banks which function as shepherds of most nation-states and global markets. Deeming U.S. and European economic prospects too uncertain, Chavez has decided to place Venezuela’s gold reserves and other liquid assets in China, Russia, and perhaps even Iran. Chavez’s decision, in part, might have to do with his domestic petroleum reserves. He can sit on his petroleum reserves at home, with a stash of off-shored gold in emerging nations.
Venezuela’s gold holdings, 440 tons, ranks 15th in the world. And so, Venezuela holds more gold than Saudi Arabia or the United Kingdom. So, with this in mind, markets should not expect Libyan gold to hit the markets, resulting in a drop in the gold price. Instead, much of this gold might find its way onto the balance sheets of Venezuela. In order to drop the price of gold, with demand as high as it is, only further margin hikes will do the job.
Hugo Salinas-Price has indicated that Greece and Mexico could fix their economic problems by switching to a silver standard. He has been an outspoken proponent of this action, and it would certainly empower the Mexican state, and perhaps by proxy its people, by divorcing so decisively from the Federal Reserve Note. But, the Mexican government has indicated it has no interest in its gold. It will trust the corporate banking cabal with its gold, assuming its perceived status of “old friends” will give them delivery preference. This is not the case, likely. What Mexico needs to do is begin a movement like Venezuela, Switzerland and Germany to get its gold back from the victors of World War II, and exit from the remnants of
Bretton Woods.
With an apparent
gold standard oncoming, countries like Mexico, with their gold with the demise-of-the-nation-state globalists, could find themselves losers of the future.
Of course, were Mexico to demand its gold back, cries would wail out of NY and London calling them socialists on the side of the tyrannical Chavez Regime…
and.......
http://www.silverdoctors.com/bank-of-mexico-admits-96-of-gold-reserves-held-in-us-london/
( How long before Mexico wakes up and brings its gold home ? )
BANK OF MEXICO ADMITS 96% OF GOLD RESERVES HELD IN US & LONDON
OCTOBER 16, 2012 BY
THE DOC
After months of dragging their feat and claiming it was necessary for national security reasons to keep the info classified (sounds like an freedom of information request to the Fed)
The Bank of Mexico has been forced to comply with the Federal Transparency Law and release information revealing where the Central Bank’s gold reserves are held.
In what will not be a surprise to any SD reader, the report reveals that The Bank of Mexico holds less than 5% of it’s gold reserves within Mexico, while the remaining 95% of it’s ‘physical’ gold reserves are held in the US and London (translation- nearly the entirety of Mexico’s gold reserves are held at the Bank of England and the NY Fed basement, and have likely been rehypothecated more times than an MFG client’s assets).
Our friend Eric Sprott recently pointed out in his monthly newsletter Do Western Central Banks Have Any Gold Left?the likelihood that the Western Central banks have largely leased out the gold they are supposedly holding as reserves.
In effect, Mexico just admitted that their actual, tangible gold reserves are 1/20th of the stated total. Perhaps Mexico should consider hiring Hugo Chavez as their gold reserves consultant.
Got PHYZZ?
Today, thanks to the Federal Transparency Law, Banxico has become perhaps the first central bank to reveal in writing the amounts of its gold holdings as well as the names of its custodians and the locations where it s gold holdings are supposedly held.
It was quite difficult to obtain this information, for the Bank refused again and again to hand over the information until compelled to do so by a ruling of its own “Department of Management for Rules Control”, which is the entity in charge of dealing with appeals presented as “Appeals for Revision”.
The wrangling went on for four months, during which Banxico insisted that it was necessary to classify as “Reserved” all information referring to its gold position; it claimed that revelations might “harm the financial, economic or monetary stability of the country”.
Once the four cases were resolved favorably, the Liaison Unit of the central bank notified this journalist through the following documents: REF.: 22.25.2012, I22.27.2012, I22.28.2012 y REF.:I22.29.2012, as follows:
- “At month’s end, April 2012, Banco de Mexico maintained a position in fine gold of 4,034,802 ounces, of whichonly 194,539 ounces are located in the territory of the United Mexican States.” [Our emphasis]
- Banxico “has been informed and knows the specific location of the gold position that forms part of its reserve of International assets”
- The countries where these reserves are located are “United States of America, England and Mexico.” And also, “the acquisitions of gold during March and April 2012 are under custody in England”.
- And besides, it is precisely there in “the city of London, England, where more than 99% of the gold which the Bank of Mexico maintains outside the country is presently under custody…”
The distribution would be: in England ˃94.23%; México, 4.82%; United States ˂1% Voilá.
Though the figures refer to past April, they are still current.
http://www.silverdoctors.com/the-u-s-suffers-huge-gold-deficit-as-record-amounts-are-exported-to-switzerland-london-hong-kong/
U.S. SUFFERS HUGE GOLD DEFICIT AS RECORD AMOUNTS ARE EXPORTED TO SWITZERLAND, LONDON & HONG KONG
OCTOBER 16, 2012 BY
SRSROCCO
In a stunning development over the first seven months of the year, the United States has run up a huge gold deficit as it has exported a record 424 metric tonnes of gold. This is indeed a significant amount when we find that the U.S. exported a total of 488 metric tonnes for the entire year in 2011.
According to the USGS July Gold Mineral Industry Survey, the U.S . only imported 188 metric tonnes of gold between Jan-Jul, but exported 424 metric tonnes leaving a huge shortfall. Some of this deficit was made up by the U.S. domestic gold mine supply.
However, if we add up all the domestic gold mine supply plus the gold imports in the first seven months of 2012, the United States still ran a large 102 metric tonne gold account deficit.
The United States is exporting a record amount of gold and the majority of it is being sent to Switzerland, London and Hong Kong. These large U.S. gold exports are likely being used to try and fill the insatiable demand for PHYSICAL GOLD by the Eastern buyers.
The U.S. produced 134 metric tonnes of gold between January & July of 2012:
NOTE: the figures are shown in kg. or kilograms. We convert them to metric tonnes (MT) by dividing by 1,000.
As we can see from the table above (source USGS), of the total 134 metric tonnes of gold produced in the country, Nevada supplied 102 metric tonnes or 76% of the overall amount. Alaska was second by producing 14.8 metric tonnes or 11% of the U.S. production.
If we add all the U.S. gold mine supply between Jan-Jul (134 MT), plus all the gold imports (188 MT) we get total of 322 metric tonnes. However, the United States exported 424 metric tonnes of gold during the same period leaving a huge 102 metric tonne deficit:
To get an idea of where the United States sources its King precious metal, I put together a graph showing the top 4 countries who supply the country of the majority of its gold. When the U.S. imports gold, it predominantly acquires it in the form of dore & precipitates, but exports it in a larger extent as refined bullion.
Here we can see that the U.S. imports the majority of its gold from its closest southern neighbor, Mexico (72.2 MT), followed by Columbia (32.7 MT), Canada (26.8 MT) and lastly Peru (16 MT). These four countries accounted for nearly 148 metric tonnes of the total 188 metric tonnes imported into the U.S. in the first seven months of the year. Other countries who exported smaller amounts of gold to the U.S. (but are the top suppliers of the remaining bunch), are Bolivia, Curacao, Guatemala, and Guyana.
As was stated in the headline of this article, the United States is exporting a record amount of gold and the majority of it is being sent to Switzerland, London and Hong Kong. I would imagine these large U.S. gold exports are being used to try and fill the insatiable demand by the Eastern buyers (mostly Asian)… claimed by Jim Willie in many of his recent interviews.
Switzerland received the lion’s share of the gold importing 137.3 MT of gold from the U.S., while the U.K. came in second at 84.3 MT, followed by Hong Kong at 74.5 MT. These three countries imported 296 MT of gold between Jan-Jul of this year. This was 70% of all the gold (424 MT) exported from the United States during this time. Some of the countries who imported the larger share of the remaining 30% of gold from the United States were Australia, Canada, India and Thailand.
Just to make sure I don’t cause any confusion, these figures are based on the USGS statistics of gold import-exports of the following categories:
1) ores & concentrates
2) dore & precipitates
3) refined bullion
I did not include any of the fabricated gold statistics that include waste & scrap, metal powder, and gold compounds. Even though there is additional gold in these fabricated categories, the more notable and important movement of gold is found in either refined bullion and dore & precipitates.
I would also like to clarify that gold recycling and gold scrap was not factored into the 102 metric tonne gold deficit…. which stands at nearly 3.3 million ounces. The amount of metal coming into the U.S. market from these two sources could be significant.
Furthermore, these are only “OFFICIAL FIGURES”. We have no idea of the TRUE AMOUNT of gold leaving the country from allocated accounts as stated by Jim Willie’s source in Europe.
That being said, as more gold leaves the shores of the U.S. than is either imported or supplied from its domestic mines, the deficit will continue to grow.
and Tuesday entry from Harvey's blogspot.....
Spain denies bailout request/troika walks away from Greece/gold and silver rebound
Good evening Ladies and Gentlemen:
Gold closed up by comex closing time to the tune of $8.70 to $1744.70. Silver also rebounded finishing up by 21 cents to $32.92. The big news today was the resignation of Victor Pandit of Citibank. Their earnings
reported yesterday was state of the art, phoniness. The troika walked away from Greece today setting a showdown sometime in November when the cash runs out. Spain denied that it had sought a bailout request.
****
Let us now head over to the comex and assess trading today. The total comex gold OI fell by 15,091 contracts to settle today at 463,350. The Monday session close came in at 478441.
The active October contract saw its OI fall by 7 contracts to 295. We had 0 delivery notices on Monday, so we lost 7 contracts or 700 oz of gold standing . The non active November contract saw it's OI rise by 151 contracts to 1106. The big December contract saw it's Oi fall by 12,618 contracts to rest at
335,736, a very lofty amount. The Monday session had its OI settle at 348,354 contracts. The estimated volume today registered 102,698 which was very anemic. The confirmed volume on Thursday was stronger at 190,073.
The total silver comex OI fell by a very tiny 650 contracts to settle at 142,406.
We lost very few silver longs who continue to be impervious to the continual banker antics of consecutive days of raids.
The raid on Monday was no doubt decided upon once the bankers knew the high silver OI. The bankers must get our silver leaves to fall or else we are looking at a possible silver commercial failure. They regrouped on the weekend and made the decision on Monday to raid again. The raid had little effect on our silver longs as we witness the high total silver OI complex!!
The non active October contract saw it's OI fall remain constant at 75 contracts. We had 0 notices filed on Thursday so we neither gained nor lost any silver standing. The non active November contract saw it's OI fall by 3 contracts down to 49. The big December contract saw it's OI fall slightly by 795 contracts to 87,143. It is this figure that is driving our bankers bonkers!! The estimated volume at the silver comex on Friday was anemic at 28,879. The confirmed volume on Thursday was stronger at 43,289. Our bankers seem absolutely frightened to supply the non backed silver paper.
Comex gold figures
Oct 16-.2012
Today, we again had tiny activity inside the gold vaults.
The dealer had no deposit and no withdrawal.
The customer had no deposits
The customer had one withdrawal:
1) out of Manfra 225.05 oz
There was no adjustments.
Thus the dealer inventory rests this weekend at 2.565 million oz (79.78 tonnes of gold)
The CME reported that we had only 37 notices filed for 3700 oz of gold.
The total number of notices filed so far this month is represented by 6899 contracts or 689,900 oz of gold.
To obtain what is left to be served upon, I take the OI standing for October
(295) and subtract out today's notices (37) which leaves us with 258 notices or 25,800 oz left to be served upon our longs.
Thus the total number of gold ounces standing in October is as follows:
689,900 oz (served) + 25,800 oz (to be served upon) = 715,700 oz.(22.29 tonnes)
The total physical amount of gold standing in October is awesome for what is generally perceived to be a very tiny delivery month. The amount standing equates to 27.86% of total dealer inventory.
and....
Silver:
Oct 16.2012:
Again, we had good activity inside the silver vaults today.
However we had no dealer deposit and no dealer withdrawal.
We had the following customer deposit:
i) Into new warehouse CNT: 263,021.000oz
ii)Into Brinks: 300,575.71 oz
iii)into Delaware: 1,957.000 oz
iv) into JPM: 10,425.73 oz
total deposit: 575,979.44 oz
.
We had the following customer withdrawal;
1. Out of CNT: 14,035.000 oz
total customer withdrawal 14,035.0000 oz
over the past 3 sessions, we have had over 4.8 million oz of silver removed from registered vaults these past two sessions.
And you do not think there is a problem in silver?
Registered silver tonight: 38.025 million oz
total of all silver: 142,163 million oz.
The CME reported that we had another one of those strange delivery notices in a delivery month for silver: this time only 2. The total number of silver notices filed so far this month remains at 440 contracts or 2,220,000 oz of silver. To obtain what is left to be served upon, I take the OI standing for October (75) and subtract out today's notices (2) which leaves us with 73 notices or 365,000 oz left to be served upon our longs.
Thus the total number of silver ounces standing in this non active delivery month of October is as follows;
2,200,000 oz (served) + 365,000 oz (to be served upon) = 2,565,000 oz
we neither gained nor lost any silver oz standing.
***
By 
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