5 votes

♖All the Kings Horses v Golden Humpty Dumpty ♖

Not easy for bullion banks to put ♖ Golden Humpty Dumpty back together again. ♖

... When Venezuela first made its intentions for gold repatriation public, the press reports indentified the Bank of England as the depository for 211 tonnes of its gold. Later, it came out that 99 tonnes were on deposit at BoE and the rest sprinkled among JP Morgan Chase, Barclays, Standard Chartered, and Bank of Nova Scotia — gold bullion banks all.

It was the addition of the bullion banks in press reports that sent off alarm bells in the gold market... Financial Times called the Venezuela withdrawal “one of the largest transfers of physical gold in recent history.” When the news sunk in, gold promptly rallied — ... as high as $1875 overnight... Venezuela’s repatriation... The bullion bank scramble, ... before Venezuela went public with its intentions.

In plain terms, it is unlikely that Venezuela’s gold is sitting prettily in the above named bullion banks just waiting to be loaded on a cargo plane and sent to Caracas. It was probably loaned out long ago, and then perhaps, redeposited at some other bullion bank and loaned out again, etc. on down the line until it was fractionalized, atomized, and otherwise depleted from its unified whole. In short, it will not be easy for the bullion banks to reassemble this golden Humpty Dumpty.

... Moneyed interests globally, as reported extensively in the mainstream press, are on a hair trigger, and ready to move defensively at a moment’s notice. At the whiff of trouble, the equivalent of a bank run could develop in the bullion banking sector.

    ★★★★ 40 years ago ★ almost to the day ★ forced the United States to close the gold window. ★★★★

“Some words really do evoke ♖ Humpty’s ♖ ‘handsome’ rotundity.” Lewis Carroll Society of North America, official web site

Fed Inflates Itself Beyond "Alice in Wonderland" ... $2 Quadrillion ★ Mark Twain, 02/24/2011

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All the King's Horses by The FIRM!!!

...one hit wonder!!!

Who remembers??

Another Ron Paul REVOLUTION THEME SONG - !!!

"can't storm this tower or LOVE my friend!!!" - in this REVOLUTION!!!


I wouldn't call it one hit

I wouldn't call it a one hit wonder. Paul Rodgers of Bad Company (my favorite band of all time) and Jimmy Page Of Led Zep! Na gotta give em the nod. :)

fireant's picture

Two months they have...

It'll be fun to watch all the king's horses and all the king's men try...

Undo what Wilson did

reedr3v's picture




Keeping Gold Bullion in a bank is like asking a horse thief to hold your horse. IMO

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

The bernanke sez, gold is not money.

it is a quaint tradition, left over from the olden daze...

who am I to believe?

The Federal Reserve is not a bank.

What would they know of Money?

I saw their product tested with a match. Their notes are full of magic smoke, but nothing of value. ;-)

Free includes debt-free!