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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this week said it held about 5.3 tons, but dismissed reports that the family of ex-leader Zine El Abidine Ben Ali had withdrawn the gold, saying the bank vaults were "under draconian security measures."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French TV TF1 also reported that the gold was withdrawn in late December.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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Thu, 01/20/2011 - 16:44 | Link to Comment What a mess_man
What a mess_man's picture

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

Thu, 01/20/2011 - 17:01 | Link to Comment unwashedmass
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?

Thu, 01/20/2011 - 17:01 | Link to Comment Turd Ferguson
Turd Ferguson's picture

The dead cat bounce is almost over in the USDX

http://tfmetalsreport.blogspot.com/2011/01/ah-buck-it.html

Thu, 01/20/2011 - 17:13 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 17:45 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

 

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

http://www.youtube.com/watch?v=JYfM-frIWlQ

 

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.

 http://www.businessinsider.com/chart-of-the-day-gold-vs-other-commodities-2011-1#ixzz1Bc93Lqow

 

Thu, 01/20/2011 - 17:47 | Link to Comment Mr Lennon Hendrix
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?

Thu, 01/20/2011 - 17:50 | Link to Comment Spalding_Smailes
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 ....

Thu, 01/20/2011 - 17:52 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And Ben Ali!  Nice metaphor.

Thu, 01/20/2011 - 21:01 | Link to Comment flacon
flacon's picture

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

Thu, 01/20/2011 - 16:44 | Link to Comment Segestan
Segestan's picture

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

 Just replace it with a printer.

Thu, 01/20/2011 - 17:52 | Link to Comment Rahm
Rahm's picture

And ink cartridges are confisgated... Then what?

Thu, 01/20/2011 - 16:46 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 16:45 | Link to Comment The Axe
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

Thu, 01/20/2011 - 16:46 | Link to Comment TheGreatPonzi
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.

Thu, 01/20/2011 - 16:52 | Link to Comment Agent P
Agent P's picture

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

Thu, 01/20/2011 - 16:53 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

Another jealous American.

Thu, 01/20/2011 - 16:58 | Link to Comment tmosley
tmosley's picture

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

Thu, 01/20/2011 - 17:01 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 17:13 | Link to Comment tmosley
tmosley's picture

That doesn't even make any sense.

Thu, 01/20/2011 - 17:17 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

That's because you are stupid.

Thu, 01/20/2011 - 18:41 | Link to Comment tmosley
tmosley's picture

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

Thu, 01/20/2011 - 16:58 | Link to Comment Pladizow
Pladizow's picture

Americans are jealous of stinky cowards?

Thu, 01/20/2011 - 17:01 | Link to Comment TheGreatPonzi
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.

Thu, 01/20/2011 - 17:03 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

Why pick on Berlisconi ?

Thu, 01/20/2011 - 17:32 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

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

Thu, 01/20/2011 - 17:40 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

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

Thu, 01/20/2011 - 17:44 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

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

Thu, 01/20/2011 - 17:51 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 17:58 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are out of your element, Johnny.

Thu, 01/20/2011 - 20:06 | Link to Comment Bastiat
Bastiat's picture

Yum!

Thu, 01/20/2011 - 17:00 | Link to Comment Agent P
Agent P's picture

Jealous of what may I ask?

Thu, 01/20/2011 - 17:02 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

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

Jealous of the fact our country is their mother.

Thu, 01/20/2011 - 17:05 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 17:59 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gauls=Gaelic.

Thu, 01/20/2011 - 17:10 | Link to Comment Agent P
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.

Thu, 01/20/2011 - 17:23 | Link to Comment Sketch
Sketch's picture

two words - Maginot Line

Thu, 01/20/2011 - 17:40 | Link to Comment RockyRacoon
Thu, 01/20/2011 - 17:44 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

two words- Norman Conquest

Thu, 01/20/2011 - 17:48 | Link to Comment Crisismode
Crisismode's picture

One word -- Waterloo

Thu, 01/20/2011 - 17:49 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

One man- Lance Armstrong

Thu, 01/20/2011 - 19:15 | Link to Comment Dr. Acula
Dr. Acula's picture

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

Able was I ere I saw Elba.

Thu, 01/20/2011 - 17:25 | Link to Comment Simon Endean
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.

Thu, 01/20/2011 - 17:41 | Link to Comment Rick64
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.

Thu, 01/20/2011 - 17:43 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

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

Thu, 01/20/2011 - 17:54 | Link to Comment Zeroexperience2010
Zeroexperience2010's picture

+1

(from a frenchman!)

Thu, 01/20/2011 - 16:47 | Link to Comment M.B. Drapier
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?

Thu, 01/20/2011 - 16:47 | Link to Comment Jaw Knee Cash
Jaw Knee Cash's picture

They ate it after they ran out of food.

Thu, 01/20/2011 - 16:47 | Link to Comment living on the edge
living on the edge's picture

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

Thu, 01/20/2011 - 16:49 | Link to Comment Arius
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... :-) 

Thu, 01/20/2011 - 16:49 | Link to Comment NOTW777
NOTW777's picture

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

saudis just as guilty

Thu, 01/20/2011 - 16:51 | Link to Comment Arius
Arius's picture

the people?

there will be another thug claiming to serve the people....and so we move on...

Thu, 01/20/2011 - 16:55 | Link to Comment NOTW777
NOTW777's picture

I'm talking about the people in the street looking for food

Thu, 01/20/2011 - 17:02 | Link to Comment Arius
Arius's picture

i know, did not mean to contradict you - i am just sceptical any real justice will take place...who knows...

Thu, 01/20/2011 - 17:51 | Link to Comment Rick64
Rick64's picture

 Saudis also let Idi Amin live out his days there after he fled Uganda.

Thu, 01/20/2011 - 16:49 | Link to Comment cougar_w
cougar_w's picture

I once lost 1.5 tons of gold in the sofa. Looked all over Hell, couldn't find it. Didn't turn up again until I moved from my apartment and it fell out on the floor. I laughed my ass off and after the move used it to buy Egypt. Can happen to anyone.

Thu, 01/20/2011 - 16:49 | Link to Comment Bam_Man
Bam_Man's picture

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.

"Honey, I'm going to the bank to get 1.5 tons of Gold. Where are the keys to the Brink's truck?"

Thu, 01/20/2011 - 16:50 | Link to Comment HamyWanger
HamyWanger's picture

You can't eat gold... Ben Ali is such a loser.

He should have departed with millions of AAPL shares and Irish government bonds.

Thu, 01/20/2011 - 16:52 | Link to Comment Commander Cody
Commander Cody's picture

I detect a bit of sarcasm there, Hamy.

Thu, 01/20/2011 - 17:09 | Link to Comment Bill Lumbergh
Bill Lumbergh's picture

Hamy I can see you have been taught well in the Wanger school of economics.

Thu, 01/20/2011 - 17:25 | Link to Comment Hephasteus
Hephasteus's picture

WangerNomics. Getting pumped and dumped is the only way to get an A.

Thu, 01/20/2011 - 17:36 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

"Getting pumped and dumped. " You seem quite knowledgeable on the topic.

Thu, 01/20/2011 - 16:50 | Link to Comment Hephasteus
Hephasteus's picture

Draconian - Mall Security Guard

Thu, 01/20/2011 - 16:54 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

Draconian - your life

Thu, 01/20/2011 - 16:59 | Link to Comment tmosley
tmosley's picture

Morons don't know what "draconian" means.

Thu, 01/20/2011 - 17:08 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

Sure we do

 

The official Draconian homepage
Welcome to the official homepage of Sweden's Doom/Gothic Metal band Draconian.
www.draconian.se/
  • Thu, 01/20/2011 - 17:43 | Link to Comment RockyRacoon
    RockyRacoon's picture

    Well, finally.  You admit to being a moron.  Progress is being made.

    Thu, 01/20/2011 - 17:46 | Link to Comment goldmiddelfinger
    goldmiddelfinger's picture

    A man's gotta know his limits

    Thu, 01/20/2011 - 16:54 | Link to Comment cougar_w
    cougar_w's picture

    Draconian - his brother-in-law's idiot cousin

    Thu, 01/20/2011 - 16:57 | Link to Comment faustian bargain
    faustian bargain's picture

    "The gold is missing! Summon the Draconian Guards!"

    Thu, 01/20/2011 - 16:50 | Link to Comment Commander Cody
    Commander Cody's picture

    I admire folks who know true value when they seize it.

    Thu, 01/20/2011 - 16:51 | Link to Comment Cdad
    Cdad's picture

    OT:

    Anyone watching this neurotic buy/sell/buy/sell/buy/sell BS happening right now...per every other freakin' second?  It is so sweet to live in a Banana Republic Tree nation.

    And Market Credibility stumbles and falls once again, face down at the corner of Wall and Broad.

    "Mary, Mary, Mary, Mary!"

    Thu, 01/20/2011 - 16:55 | Link to Comment Bam_Man
    Bam_Man's picture

    Sounds like you are not a big fan of the casino-like "action" we now have across all asset classes.

    Brought to you courtesy of Banana Ben Shalom.

    Thu, 01/20/2011 - 17:26 | Link to Comment Cdad
    Cdad's picture

    Been doing this for quite a long time now...but today's last ten minutes was absurd...as was the action in GOOG after the report. 

    This market is truly broken.  Ye ole Flash Crash cannot be far from here.

    Thu, 01/20/2011 - 17:30 | Link to Comment Pitchman
    Pitchman's picture

    Action figures: Banana Ben and Bend Over Barney.

    Thu, 01/20/2011 - 17:42 | Link to Comment wisefool
    wisefool's picture

    I resent that remark. We raise our children here. We reall don't need the corner of broad and wall to keep them in non lubricated food.

    Thu, 01/20/2011 - 16:59 | Link to Comment Spalding_Smailes
    Spalding_Smailes's picture

    TZA holding up really nice.

    Thu, 01/20/2011 - 17:39 | Link to Comment d00daa
    d00daa's picture

    Good call IMO, RUT looks terrible.  You may get bit short term from a small bounce and/or choppy action until either next week (post op ex) or beginning February, but the RUT monthly is ridiculously overextended (as are SPX and COMP, to a lesser extent).

    Thu, 01/20/2011 - 16:53 | Link to Comment ILikeBoats
    ILikeBoats's picture

    If you don't hold it, you don't own it...

    Thu, 01/20/2011 - 17:08 | Link to Comment SheepDog-One
    SheepDog-One's picture

    And the things you own, end up owning you anyway.

    Thu, 01/20/2011 - 16:54 | Link to Comment Dagny Taggart
    Dagny Taggart's picture

    Shit, I hope AIG doesn't hold the policy for that, too. We'll end up having to bail it out so Goldman Sachs doesn't suffer losses.

    Thu, 01/20/2011 - 17:49 | Link to Comment Mr Lennon Hendrix
    Mr Lennon Hendrix's picture

    +1

    Thu, 01/20/2011 - 16:55 | Link to Comment bigluck
    bigluck's picture

    1st time poster here.

     

    Love ZH and all your guys' opinions/sarcs/barbs etc.....

     

    Was thinking of purchasing my first set of silver coins/bullion via APMEX.  Do not have

    too much liquidity, however, I would like to protect what i do have against the 

    forces of the Morgue, Bernank, and other looters of our economy and I think the 

    price for silver right now is right.  This correction has helped me make a decision

    to jump in and hold the physical stuff for the long term.

    What do you guys suggest since i'm a bullion virgin?  Help me pop my cherry, haha.

    American eagles? Maples? Other suggestions?

     

    Thanks.

    Thu, 01/20/2011 - 16:57 | Link to Comment Ragnarok
    Ragnarok's picture

    Both Eagles and Maples are well recognized, choose which ever has the lowest premium.

    Thu, 01/20/2011 - 16:58 | Link to Comment gwar5
    gwar5's picture

    Welcome.

    I like Maples.  .9999 and can get 1oz to 1/10 oz

    Thu, 01/20/2011 - 16:59 | Link to Comment godgunsandgold
    godgunsandgold's picture

    Buy lead, then food, then generic rounds....if you're not that liquid.

    Thu, 01/20/2011 - 17:02 | Link to Comment Jaw Knee Cash
    Jaw Knee Cash's picture

    My 2 cents: I started with eagles. Shop your premiums. Stay away from graded/numismatic. Look at onlygold.com and compare premium. (I have no personal interest.) I have bought from there on occasion. Good and honest folks and some of the lowest premiums I have found.

    Thu, 01/20/2011 - 17:03 | Link to Comment Dagny Taggart
    Dagny Taggart's picture

    Eagles have a lower markup than Maples. My favorite six words: your apmex order has been shipped.

    Thu, 01/20/2011 - 17:11 | Link to Comment schoolsout
    schoolsout's picture

    bulliondirect.com may work better for you

     

    as of now, cheaper premiums on some stuff and you don't have to have it shipped immediately.  Just store it there and ship when you build up a good bit (purchases over whatever timeframe)

    They have always done me right.

    Thu, 01/20/2011 - 17:40 | Link to Comment Mr Lennon Hendrix
    Mr Lennon Hendrix's picture

    Go to a coin shop and look at Eagles, Maples, Philharmonics, etc....

    They are all worth the [ahem] monie.

    Thu, 01/20/2011 - 17:46 | Link to Comment RockyRacoon
    RockyRacoon's picture

    All the above gave you good advice.  I'd add:  Buy some junk U. S. silver.  Never know when you'll need to trade a few circulated dimes or quarters for those nice veggies at the farmers market.

    Thu, 01/20/2011 - 18:11 | Link to Comment baddress
    baddress's picture

    When I recently shopping around I found that Lear Capital had the lowest premium on silver maples if you order on the website, however the situation may have changed since a couple weeks ago. They only accept bank wires though but You can get free shipping if you have a coupon code AB297. (Order online - don't call them up to order, they will try to push you into high-premium "collectibles").

    I found that Gainseville coins had the lowest premium for small bags of 90% US coins, at $0.00 over spot, if you can afford a $1000 face bag Tulving sells for $0.15 under spot.

    I'm not particular to any one shop but I just go with whoever has the lowest premium at the time.

    If you find a local coin shop dealer that you trust, take advantage of their expertise they can find you anything particular you're looking for.

    If you find a local pawn shop dealer who's oblivious, take advantage of him but make sure it's genuine PM.

    Thu, 01/20/2011 - 18:53 | Link to Comment Blano
    Blano's picture

    If you're talking small quantities, try a local coin dealer before buying online, you might get just as good a rate by the time you throw in shipping from your online order.  You also get your hands on it immediately that way.  I also buy 1 oz. rounds and bars.  It's all equally fun to fondle.

    Thu, 01/20/2011 - 18:59 | Link to Comment StychoKiller
    StychoKiller's picture

    The elderly 90% Silver Peace dollars (1922-1935) are a good buy right now at APMEX:

    http://www.apmex.com/Category/987/Other_US_Silver_Coins.aspx

    Thu, 01/20/2011 - 19:54 | Link to Comment Lord Koos
    Lord Koos's picture

    I don't collect coins -- I buy whatever form is cheapest and most conventient - 10 & 100 oz bars, generic fine silver 1 oz rounds, and old 90% silver US coins.

    Thu, 01/20/2011 - 16:55 | Link to Comment gold mining ceo...
    gold mining ceos are idiots's picture

    My stomach is a mess and I am now shitting diamonds from trying to eat gold...does that make me some sort of alchemist?

    Thu, 01/20/2011 - 17:00 | Link to Comment gwar5
    gwar5's picture

    No. That makes you a girl's best friend.

    Thu, 01/20/2011 - 20:21 | Link to Comment au_bayitch
    au_bayitch's picture

    An old girlfriend said “The finest penises tastes like chocolate and ejaculates cash.” She dumped me, I ejaculated 1/10 oz. eagles. Buy the fing dip.

    Thu, 01/20/2011 - 16:58 | Link to Comment TheJudge2012
    TheJudge2012's picture

    How far does 1.5 tons go to cover excercised options on the comex?

    Thu, 01/20/2011 - 16:59 | Link to Comment Hephasteus
    Hephasteus's picture

    Looks like it's good for a 20 buck drop in gold prices.

    Thu, 01/20/2011 - 16:59 | Link to Comment redpill
    redpill's picture

    I wonder how much gold is "missing" from Fort Knox?

    Thu, 01/20/2011 - 17:01 | Link to Comment tmosley
    tmosley's picture

    All I know is that the guard has doubled with every new president since Nixon.

    Thu, 01/20/2011 - 17:10 | Link to Comment goldmiddelfinger
    goldmiddelfinger's picture

    You know Dick

    Thu, 01/20/2011 - 17:14 | Link to Comment tmosley
    tmosley's picture

    I also know Tom and Harry.  Your point?

    Thu, 01/20/2011 - 17:22 | Link to Comment Hephasteus
    Hephasteus's picture

    I think his point is that he's been knocked the fuck out and is now at the bottom of the disagreement heiarchy.

    http://www.google.com/imgres?imgurl=http://www.acceleratingfuture.com/mi...

    Thu, 01/20/2011 - 17:39 | Link to Comment goldmiddelfinger
    goldmiddelfinger's picture

    There are 3 meanings within the 3 words. See if you can find one of them.

    Thu, 01/20/2011 - 17:12 | Link to Comment William F. Dulle
    William F. Dulle's picture

    That's odd, considering the deregulation that's been going on since then. Why not just let market forces guard the gold?

    Thu, 01/20/2011 - 16:59 | Link to Comment gwar5
    gwar5's picture

    Alluah Akbar! We was robbed!

    Thu, 01/20/2011 - 17:16 | Link to Comment palmereldritch
    palmereldritch's picture

    Au Freak Out!

    http://www.youtube.com/watch?v=WsKPPL-j6kE

    Le freak, c'est Sheikh

    Thu, 01/20/2011 - 17:06 | Link to Comment lsbumblebee
    lsbumblebee's picture

    Those Bens. Always getting into some kinda crazy hijinks.

    Thu, 01/20/2011 - 17:09 | Link to Comment William F. Dulle
    William F. Dulle's picture

    "Ben Ali's wife Leila Trabelsi had gone to the bank to withdraw [1.5 tons of] gold."

    "She don't look like much, but she's strong."

    Thu, 01/20/2011 - 17:19 | Link to Comment countryboy42
    countryboy42's picture

    Yeah, you would think someone would have commented when she showed up driving a fork lift instead of the limo.

    Thu, 01/20/2011 - 17:22 | Link to Comment truont
    truont's picture

    also just as funny is that according to the WGC the US has 8,133.5 tonnes of gold.

    That is funny!

    Thu, 01/20/2011 - 17:26 | Link to Comment ewmayer
    ewmayer's picture

    Maybe the 1.5 tons was just Mrs. Leila's bling ... you marry a high-class/high-maintenance gal, you gotta expect to shell out now and again (or just have some of your country's bullion melted and made into bling) to keep her happy.

    I do so love a true old-fashioned romance.

    Thu, 01/20/2011 - 17:35 | Link to Comment Mr Lennon Hendrix
    Mr Lennon Hendrix's picture

    No worries!  Bernanke will now lease them 1.5 tonnes from his Federal Reserve Gold Vault.  Win/win all around!

    Thu, 01/20/2011 - 17:58 | Link to Comment faustian bargain
    faustian bargain's picture

    Indeed...I bet that's going to be his pitch. "See, this is what happens when you don't let us keep your gold in our basement..."

    Thu, 01/20/2011 - 17:37 | Link to Comment Yen Cross
    Yen Cross's picture

      Well! The entities that be , can exchange the xau for (bordering soverign) Blood Diamonds! Pathetic!

    Thu, 01/20/2011 - 17:58 | Link to Comment Pure Evil
    Pure Evil's picture

    One question.

    How in the hell did Tunisia manage to squirrel away 6.8 tonnes of gold?

    You would have thought the Nazi's would have looted it when they left North Africa after being routed by Gen. Patton.

    Thu, 01/20/2011 - 18:02 | Link to Comment faustian bargain
    faustian bargain's picture

    It's just a number. How does anyone know how much they really have?

    I bet 1.5 tons was it. I bet that foxy lady made off with the whole stash--I mean, come on, wouldn't you?--and now the central bank is sweating bullets, hoping nobody notices the vault is actually empty.

    Thu, 01/20/2011 - 17:59 | Link to Comment max2205
    max2205's picture

    Coming soon cavity searches for all Tunisians !

    Thu, 01/20/2011 - 18:22 | Link to Comment Pitchman
    Pitchman's picture

    2.484 cubic feet

    That's one hell of a paper weight.

    Thu, 01/20/2011 - 18:36 | Link to Comment SilverIsKing
    SilverIsKing's picture

    What weighs more, 1.5 tons of gold or 1.5 tons of feathers?

    Thu, 01/20/2011 - 19:30 | Link to Comment Dr. Acula
    Dr. Acula's picture

    They weigh the same.

    But an ounce of gold weighs more than an ounce of feathers. (Gold is measured in troy ounces; feathers in avoirdupois ounces.)

    Thu, 01/20/2011 - 19:37 | Link to Comment SilverIsKing
    SilverIsKing's picture

    Quite impressive but if you weigh them in the exact same unit of measurement...whatever.

    Thu, 01/20/2011 - 19:57 | Link to Comment walküre
    walküre's picture

    Ben Ali took 1.5 tonnes from Tunisia, sold it TODAY (price dropped a little) and is buying the State of New Jersey where he'll feel right at home!

    Tunisia is rid of the guy, New Jersey gets to pay their pensions and benefits another day and the gold community just got the gift to buy 1.5 tonnes at the ridiculous sale price of less than $1,500 funny money dollars!

    win-win-win

    Fri, 01/21/2011 - 09:33 | Link to Comment cramers_tears
    cramers_tears's picture

    1.5 tonnes is around $70 million given yesterday's prices.  That's nothing.  I wonder if his "the Goldman Sachs" private banker moved him into US Municipals and State Bond funds...

    "You know Ali & Leila... these municpals are just priced to move and hold that AAA S&P Rating...  Why you can't lose.  Oh and I've still got some MBS's in the back room that are just a steal!

    Now it will be interesting to see when he runs out of cash if the Saudis will send him back.

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