Tunisia Central Bank Admits It Is Missing 1.5 Tons Of Gold

Tyler Durden's picture

When we first reported on the rumored "confiscation" of 1.5 tons (or is that tonnes?) of gold by deposed Tunisian surging food inflation beneficiary Ben Ali we joked that the next WGC update of Tunisian gold assets would be strangely lower by 23%. Once again, the Onion reality sets in as we uncover we were right. Dow Jones reports that "Tunisia's central bank this week said it held about 5.3 tons, but dismissed reports that the family of ex-leader Zine El Abidine Ben Ali had withdrawn the gold, saying the bank vaults were "under draconian security measures." Um, yeah, that's just off by the amount that Ben Ali is now desperately trying to eat...

From Dow Jones:

Tunisia had 6.8 tons of gold in December, a level unchanged for at least a decade, according to a December online report issued by the World Gold Council, which is also in line with estimates issued by the International Monetary Fund in October.

The WGC regularly publishes global statistics on gold and is considered an authority on the sector.
According to French intelligence cited by French daily Le Monde, Ben Ali's wife Leila Trabelsi had gone to the bank to withdraw the gold. The governor initially resisted, but backed down under pressure from Ben Ali himself

French TV TF1 also reported that the gold was withdrawn in late December.

Ben Ali fled to Saudi Arabia last week amid an unprecedented wave of street protests against rising unemployment as well as his 23 years of iron-fisted rule and allegations of corruption against his family.

That's funny: also just as funny is that according to the WGC the US has 8,133.5 tonnes of gold. We wonder if we should apply the same 22% pro forma haircut on that number when adjusting for physical gold holdings long since moved to various armored safes in Wall Street's offshore villas located in non-extradition countries. But we jest. We would be satisfied with just learning how much Tungsten is currently located in Fort Knox.

h/t London Dude Trader

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What a mess_man's picture

It's Tunisia!  I just walked in and took it!

unwashedmass's picture


why doesn't anyone care? i mean, another week or two and the CTFC and JPM will have gold declared worthless. so...who cares?

goldmiddelfinger's picture

You're the old lady they always find with a house filled with hundreds of dead cats. P-U

Spalding_Smailes's picture


------------ >ALERT ! ALERT ! ALERT !!! 



CHART OF THE DAY: Guess Which Major Commodity Has Performed The Worst Since QE2


Since quantitative easing 2 really kicked off in early September, one major commodity has lagged the broader market.

Surprise, it's gold.

And now, with all the talk of inflation striking ChinaIndia, and even the United States, you would think the great inflation hedge would be set to surge.

Now Nomura says it may be about to head lower.

That's because gold's relationship with U.S. real rates suggests it should lose another 8% of its value, so long as U.S. real rates continue to rise, according to Nomura.



Mr Lennon Hendrix's picture

Bernanke's cred relied on gold not going anywhere.  Do you think the cash funneled into PDs was used by Blythe to short gold?

Spalding_Smailes's picture

No, its called running for the exit as the building is burning ...


So now we have Spalding, J. " the godfather " Rogers, Soros, Nomura ....

flacon's picture

Spalding, where did you have your wealth during that time? Just curious. 

Segestan's picture

What does it matter... Gold is a relic of the past.. Right?? .. Right?

 Just replace it with a printer.

Rahm's picture

And ink cartridges are confisgated... Then what?

goldmiddelfinger's picture

WSJ reports that Ben Ali and 40 of his relatives personally owned controlling interest in 35% of Tunisia's GDP.

The Axe's picture

They must have just used that gold to buy all the fucking HUGH stock in the world...ha ha Flash finger alert.....hope my sale at 59 stays....not

TheGreatPonzi's picture

Tons come from the French "tonnes", indeed.

Another apport from France to America. France is the cradle, the beacon of civilization.

The USA would not exist without us, keep that in mind.

Agent P's picture

And if not for the USA, the French would all be speaking German.

TheGreatPonzi's picture

Another jealous American.

tmosley's picture

If not for the French, the Americans would all still be speaking English!

goldmiddelfinger's picture

You mom called. You're to return to Doomer watch immediately.

tmosley's picture

That doesn't even make any sense.

goldmiddelfinger's picture

That's because you are stupid.

tmosley's picture

No, it's because you are a moron with poor communication skills.

Pladizow's picture

Americans are jealous of stinky cowards?

TheGreatPonzi's picture

Well, at least we do not have fat-ass girls and bankers openly displaying the looting of this country in the press without reaction... at least here they keep it private.

Mr Lennon Hendrix's picture

I have seen french girls, and they have fat asses.

TheGreatPonzi's picture

You don't look at the right place. I assume it was in Roissy or the RER C?

Mr Lennon Hendrix's picture

You do not understand.  I said I have seen their nice, shapely, voluptuous, supple, and healthy, fat apple bottoms.

goldmiddelfinger's picture

He just called you a putain and now you look like a deer in the lights.

Mr Lennon Hendrix's picture

You are out of your element, Johnny.

Agent P's picture

Jealous of what may I ask?

TheGreatPonzi's picture

Jealous of our cultural, architectural and military brilliance, that's all.

Jealous of the fact our country is their mother.

goldmiddelfinger's picture

Yeah, the Mother land settled by bored Vikings. Besides where would we be without all the Templar conspiracy books?

Agent P's picture

You do have wonderful culture and architecture...as for military brilliance, I suppose never firing your rifles and laying them gently on the ground does keep them in very good condition.

Dr. Acula's picture

>Jealous of our cultural, architectural and military brilliance, that's all.

Able was I ere I saw Elba.

Simon Endean's picture

Actually, it was the French king who helped out the colonials.  Since you guys gave that form of government the chop, there's little credit, if any, that accrues to the populace.

Rick64's picture

 This is such a non-issue (U.S. vs. France), more importantly why did the EU and the U.S. support Ben Ali all these years and put Tunisia on a pedestal as a model for Africa. Now they are jumping to the peoples side and cheering them on. The main reason is that Ben Ali played ball with the IMF,WTO, and EU, and when the sentiment towards him turns they will look for a new leader to corrupt. It doesn't matter what kind of leader they have as long as they allow foreign corporations to rape their country via IMF loans.

TheGreatPonzi's picture

You're talking to a convinced man, buddy. I'm just trolling.

M.B. Drapier's picture

Much as I hate to stir the hornets' nest, this highlights a genuine drawback to any attempt to return to a global gold standard, doesn't it?

Jaw Knee Cash's picture

They ate it after they ran out of food.

living on the edge's picture

The funny thing is they froze his fiat money so he decided to take the real thing.

Arius's picture

soon we will believe our cataclysmic end of the world as we know it BS - then we'll be in real trouble... :-) 

NOTW777's picture

disgusting - cannot stand; bring him back for trial by the people

saudis just as guilty