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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this week said it held about 5.3 tons, but dismissed reports that the family of ex-leader Zine El Abidine Ben Ali had withdrawn the gold, saying the bank vaults were "under draconian security measures."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French TV TF1 also reported that the gold was withdrawn in late December.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 | 891077 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 | 891185 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 | 891188 Turd Ferguson
Turd Ferguson's picture

The dead cat bounce is almost over in the USDX

Thu, 01/20/2011 - 17:13 | 891257 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 | 891386 Spalding_Smailes
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.


Thu, 01/20/2011 - 17:47 | 891396 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 | 891399 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 | 891412 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And Ben Ali!  Nice metaphor.

Thu, 01/20/2011 - 21:01 | 891919 flacon
flacon's picture

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

Thu, 01/20/2011 - 16:44 | 891079 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 | 891413 Rahm
Rahm's picture

And ink cartridges are confisgated... Then what?

Thu, 01/20/2011 - 16:46 | 891080 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 | 891085 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 | 891086 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 | 891123 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 | 891128 TheGreatPonzi
TheGreatPonzi's picture

Another jealous American.

Thu, 01/20/2011 - 16:58 | 891166 tmosley
tmosley's picture

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

Thu, 01/20/2011 - 17:01 | 891186 goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 17:13 | 891260 tmosley
tmosley's picture

That doesn't even make any sense.

Thu, 01/20/2011 - 17:17 | 891276 goldmiddelfinger
goldmiddelfinger's picture

That's because you are stupid.

Thu, 01/20/2011 - 18:41 | 891574 tmosley
tmosley's picture

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

Thu, 01/20/2011 - 16:58 | 891167 Pladizow
Pladizow's picture

Americans are jealous of stinky cowards?

Thu, 01/20/2011 - 17:01 | 891180 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 | 891197 goldmiddelfinger
goldmiddelfinger's picture

Why pick on Berlisconi ?

Thu, 01/20/2011 - 17:32 | 891348 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

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

Thu, 01/20/2011 - 17:40 | 891374 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 | 891388 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 | 891411 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 | 891429 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are out of your element, Johnny.

Thu, 01/20/2011 - 20:06 | 891809 Bastiat
Bastiat's picture


Thu, 01/20/2011 - 17:00 | 891177 Agent P
Agent P's picture

Jealous of what may I ask?

Thu, 01/20/2011 - 17:02 | 891190 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 | 891211 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 | 891437 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


Thu, 01/20/2011 - 17:10 | 891236 Agent P
Agent P's picture

You do have wonderful culture and 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 | 891305 Sketch
Sketch's picture

two words - Maginot Line

Thu, 01/20/2011 - 17:40 | 891376 RockyRacoon
Thu, 01/20/2011 - 17:44 | 891390 goldmiddelfinger
goldmiddelfinger's picture

two words- Norman Conquest

Thu, 01/20/2011 - 17:48 | 891398 Crisismode
Crisismode's picture

One word -- Waterloo

Thu, 01/20/2011 - 17:49 | 891400 goldmiddelfinger
goldmiddelfinger's picture

One man- Lance Armstrong

Thu, 01/20/2011 - 19:15 | 891656 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 | 891313 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 | 891377 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 | 891389 TheGreatPonzi
TheGreatPonzi's picture

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

Thu, 01/20/2011 - 17:54 | 891418 Zeroexperience2010
Zeroexperience2010's picture


(from a frenchman!)

Thu, 01/20/2011 - 16:47 | 891094 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 | 891095 Jaw Knee Cash
Jaw Knee Cash's picture

They ate it after they ran out of food.

Thu, 01/20/2011 - 16:47 | 891096 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 | 891101 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 | 891102 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 | 891116 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 | 891145 NOTW777
NOTW777's picture

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

Thu, 01/20/2011 - 17:02 | 891184 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 | 891410 Rick64
Rick64's picture

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

Thu, 01/20/2011 - 16:49 | 891104 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 | 891105 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 | 891107 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 | 891121 Commander Cody
Commander Cody's picture

I detect a bit of sarcasm there, Hamy.

Thu, 01/20/2011 - 17:09 | 891229 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 | 891315 Hephasteus
Hephasteus's picture

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

Thu, 01/20/2011 - 17:36 | 891363 goldmiddelfinger
goldmiddelfinger's picture

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

Thu, 01/20/2011 - 16:50 | 891112 Hephasteus
Hephasteus's picture

Draconian - Mall Security Guard

Thu, 01/20/2011 - 16:54 | 891137 goldmiddelfinger
goldmiddelfinger's picture

Draconian - your life

Thu, 01/20/2011 - 16:59 | 891176 tmosley
tmosley's picture

Morons don't know what "draconian" means.

Thu, 01/20/2011 - 17:08 | 891226 goldmiddelfinger
goldmiddelfinger's picture

Sure we do


The official Draconian homepage
Welcome to the official homepage of Sweden's Doom/Gothic Metal band Draconian.
  • Thu, 01/20/2011 - 17:43 | 891387 RockyRacoon
    RockyRacoon's picture

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

    Thu, 01/20/2011 - 17:46 | 891394 goldmiddelfinger
    goldmiddelfinger's picture

    A man's gotta know his limits

    Thu, 01/20/2011 - 16:54 | 891138 cougar_w
    cougar_w's picture

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

    Thu, 01/20/2011 - 16:57 | 891157 faustian bargain
    faustian bargain's picture

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

    Thu, 01/20/2011 - 16:50 | 891115 Commander Cody
    Commander Cody's picture

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

    Thu, 01/20/2011 - 16:51 | 891117 Cdad
    Cdad's picture


    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 | 891144 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 | 891320 Cdad
    Cdad's picture

    Been doing this for quite a long time now...but today's last ten minutes was 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 | 891335 Pitchman
    Pitchman's picture

    Action figures: Banana Ben and Bend Over Barney.

    Thu, 01/20/2011 - 17:42 | 891383 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 | 891169 Spalding_Smailes
    Spalding_Smailes's picture

    TZA holding up really nice.

    Thu, 01/20/2011 - 17:39 | 891369 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 | 891130 ILikeBoats
    ILikeBoats's picture

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

    Thu, 01/20/2011 - 17:08 | 891222 SheepDog-One
    SheepDog-One's picture

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

    Thu, 01/20/2011 - 16:54 | 891132 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 | 891405 Mr Lennon Hendrix
    Mr Lennon Hendrix's picture


    Thu, 01/20/2011 - 16:55 | 891141 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?



    Thu, 01/20/2011 - 16:57 | 891162 Ragnarok
    Ragnarok's picture

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

    Thu, 01/20/2011 - 16:58 | 891165 gwar5
    gwar5's picture


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

    Thu, 01/20/2011 - 16:59 | 891174 godgunsandgold
    godgunsandgold's picture

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

    Thu, 01/20/2011 - 17:02 | 891195 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 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 | 891201 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 | 891246 schoolsout
    schoolsout's picture 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 | 891375 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 | 891393 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 | 891462 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 | 891605 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 | 891619 StychoKiller
    StychoKiller's picture

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

    Thu, 01/20/2011 - 19:54 | 891785 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 | 891147 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 | 891179 gwar5
    gwar5's picture

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

    Thu, 01/20/2011 - 20:21 | 891842 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 | 891163 TheJudge2012
    TheJudge2012's picture

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

    Thu, 01/20/2011 - 16:59 | 891175 Hephasteus
    Hephasteus's picture

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

    Thu, 01/20/2011 - 16:59 | 891171 redpill
    redpill's picture

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

    Thu, 01/20/2011 - 17:01 | 891187 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 | 891235 goldmiddelfinger
    goldmiddelfinger's picture

    You know Dick

    Thu, 01/20/2011 - 17:14 | 891265 tmosley
    tmosley's picture

    I also know Tom and Harry.  Your point?

    Thu, 01/20/2011 - 17:22 | 891302 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.

    Thu, 01/20/2011 - 17:39 | 891373 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 | 891250 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 | 891173 gwar5
    gwar5's picture

    Alluah Akbar! We was robbed!

    Thu, 01/20/2011 - 17:16 | 891270 palmereldritch
    palmereldritch's picture

    Au Freak Out!

    Le freak, c'est Sheikh

    Thu, 01/20/2011 - 17:06 | 891212 lsbumblebee
    lsbumblebee's picture

    Those Bens. Always getting into some kinda crazy hijinks.

    Thu, 01/20/2011 - 17:09 | 891234 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 | 891290 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 | 891300 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 | 891324 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 | 891359 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 | 891433 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 | 891366 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 | 891432 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 | 891445 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 | 891436 max2205
    max2205's picture

    Coming soon cavity searches for all Tunisians !

    Thu, 01/20/2011 - 18:22 | 891513 Pitchman
    Pitchman's picture

    2.484 cubic feet

    That's one hell of a paper weight.

    Thu, 01/20/2011 - 18:36 | 891560 SilverIsKing
    SilverIsKing's picture

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

    Thu, 01/20/2011 - 19:30 | 891692 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 | 891737 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 | 891792 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!


    Fri, 01/21/2011 - 09:33 | 892860 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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