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Austria Proudly Shows Off The 15 Tons Of Gold It Repatriated From London

Tyler Durden's picture




 

On May 28, the Austrian Central Bank surprised the world when it announced that it too would follow in the footsteps of Germany and the Netherlands, and repatriate half of its sovereign physical gold, currently held almost entirely at the Bank of England, to Austria while transferring a modest portion in Switzerland by the year 2020.

Back then, the central bank headed by Ewald Nowotny said it took the decision after recommendations made by the Austrian Court of Audit in February, which warned of a "heightened concentration risk" linked to storing the majority of its reserves in Britain. At the time, the bank had argued the policy was warranted because London was a major international centre for the gold trade."

This was the official statement the Austrian National Bank (OeNB) released in May:

In May 2015, the gold reserves held by the OeNB amounted to 280 tons, having remained unchanged since 2007. Austria’s gold reserves are fully owned by the OeNB, which maintains and manages them with utmost care. In line with the OeNB’s current gold storage policy, 17 % of its gold holdings are at present kept in Austria, 80 % in the United Kingdom and 3 % in Switzerland.

 

Recently, the Governing Board of the OeNB adopted the 2020 gold storage policy following a regular in-house gold strategy and storage policy review, while also considering the recommendations made by the Austrian Court of Audit. The cornerstones of this policy are as follows:

  • By the year 2020, 50% of Austria’s gold reserves are to be held in Austria (OeNB and Münze Österreich AG), 30% in London and 20% in Switzerland.
  • Starting from mid-2015, the new storage policy will be gradually implemented in keeping with security and logistical requirements.
  • A comprehensive review and, if need be, adaptation of the storage policy is scheduled for 2019.
  • The OeNB will regularly report on the progress in its upcoming annual reports.

What the central bank did not say, is that by repatriating its gold from the UK, it was implicitly confirming that trust is now very publicly fraying at the highest levels of the international monetary system, with first Germany, then the Netherlands, then Austria, and most recently China, all demonstrating they are moving and/or building up their domestic gold reserves, and withdrawing their gold held at either the NY Fed or the Bank of England, something hardly surprising for those who have read our article explaining What Happens When You Hand Over Your Gold To The Bank Of England For "Safekeeping".

Which is also why yesterday, with great fanfare, Austria proudly announced to the world that it has moved 15 tonnes of gold from London of its gold reserves as part of its aforementioned repatriation plan.

"By the end of November, the Austrian National Bank brought 15 tonnes of its gold back into its own vaults," the OeNB said in a statement. A spokesman for the central bank said it had begun repatriating the gold from London in October.

According to Reuters, after the repatriation, Austria held roughly 65 tonnes of gold, or about 23 percent of its reserves, on its territory, the spokesman said. Around three quarters, 209 tonnes, were in London, he said, and six tonnes were in Switzerland.

"London and Zurich remain the most significant trading centres for physical gold," the OeNB said in its statement, a point it has made before in explaining why it kept such a large share of its reserves abroad.

In the decades after World War Two, security concerns also played a part because international trading centres were the best place to make use of the gold if needed in the case of an international crisis, the OeNB said in its statement.

"Geopolitical considerations in the time of the Cold War also played a role," said the central bank in Vienna, which was only an hour's drive away from the Iron Curtain that divided Europe for four decades.

It would appear that despite conditions between the west and Russia deteriorating to levels not seen since the depths of the cold war, Austira is more confident it can withstand the renewed Russian "threat" by storing its gold in house, rather than "trusting" Goldman's Mark Carney, currently performing his GS alumnus duties as the head of the Bank of England, with possession of its gold.

How times have changed.

* * *

But perhaps what was most surprising about the repatriation is that in order to "prove" the gold is indeed back, the Austrian central bank also released a 3 minute clip showing not only where the Austrian gold is located now:

 

... but where it is headed:

 

... how it is measured:

 

... how it is tested using ultrasound:

 

... while validating its Rand Refinery serial numbers (read more about the refinery that has processed one third of all gold ever mined here):

 

... and finally holding a gold welcoming celebration party for media and journalists in its vault room:

 

The full clip is below.

We congratulate the Austrians on have such access and transparency to their own gold: sadly, for some unknown reason, when it comes to the US gold held at Fort Knox, the secrecy over the past several decades has prevented any member of the media or public to observe the thousands of tons which the US allegedly holds in storage. On behalf of the general population.

We wonder: why do Austrians celebrate the arrival of their gold and televize it for the entire world to see, while the world's allegedly biggest gold inventory remains a national secret, even, or rather especially, from those to whom it supposedly belongs - the citizens of USA?

 

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Sat, 12/12/2015 - 19:23 | 6915734 Pladizow
Pladizow's picture

OK Germany, cross check those serial numbers!

Sat, 12/12/2015 - 19:28 | 6915748 beemasters
beemasters's picture

What difference does it make (to the price of gold) at this point??? The current price doesn't reflect on the availability gold and demand, anyway.

Sat, 12/12/2015 - 19:31 | 6915750 The Juggernaut
Sat, 12/12/2015 - 19:33 | 6915759 COSMOS
COSMOS's picture

If you haven't cut it down the middle on a bandsaw you are an idiot.

By the way all the Austrian gold will soon be gone feeding and housing the muslim invaders and their army that runs on European benefits.

Sat, 12/12/2015 - 20:03 | 6915855 manofthenorth
manofthenorth's picture

Still waiting on the video from Ft.Knox.

Sat, 12/12/2015 - 20:41 | 6915952 zeronetwork
zeronetwork's picture

believe me for a 50 cents a jew will leave cab and walk home from a block away, do you think he will leave gold in the Fort Knox?

Sun, 12/13/2015 - 09:30 | 6917012 VinceFostersGhost
VinceFostersGhost's picture

 

 

If you haven't cut it down the middle on a bandsaw you are an idiot.

 

Absolutely correct.

Sat, 12/12/2015 - 20:45 | 6915963 seek
seek's picture

No band saw needed, ultrasound will smoke out tampering quite nicely, though the device they've shown in the pictures probably isn't the right one for the job. There are whole-bar scanners that Germany uses, IIRC.

Sun, 12/13/2015 - 04:36 | 6916779 researchfix
researchfix's picture

As long as the software comes from Volkswagen, there will be the wished for results.

Sat, 12/12/2015 - 19:46 | 6915776 robertocarlos
robertocarlos's picture

There's thousands of gay men, one of them is an MP, with kids and they aren't made fun of in the media. Leave the baby alone!

 

Edit: When he became a she, she became a bad mechanic. That's how you know it's real.

Sat, 12/12/2015 - 23:03 | 6916337 milking institute
milking institute's picture

Jawohl! oh scheisse, same nummer,China auch,same nummer, oh scheisse!....

Sun, 12/13/2015 - 00:16 | 6916483 OregonGrown
OregonGrown's picture

Gazoontite!

Sat, 12/12/2015 - 19:25 | 6915739 ReasonForLife
ReasonForLife's picture

Do a specific gravity test and cut through some of them, don't trust ultrasound, metals can be alloyed to resemble the same frequency of sound moving through gold.

Sat, 12/12/2015 - 19:46 | 6915808 bluskyes
bluskyes's picture

not while maintaining the same dimensions.

Sat, 12/12/2015 - 20:37 | 6915936 ReasonForLife
ReasonForLife's picture

You'd be surprised what kind of combinations may yield similar properties.  When so much money is involved, you need foolproof multi level testing.

Sat, 12/12/2015 - 20:43 | 6915959 zeronetwork
zeronetwork's picture

OK, let me think, how many metals are heaver than gold which can make the alloy same density as gold. hmmmm none.

Sat, 12/12/2015 - 21:24 | 6916044 SilverRhino
SilverRhino's picture

Rhenium

Osmium 

Platinum

Iridium

ALL are denser and cheaper than gold at this point and can be alloyed into some exotic stuff

Sun, 12/13/2015 - 03:22 | 6916725 slimycorporated...
slimycorporatedickhead's picture

Laybium, flaybium, who gives a shit?

Sun, 12/13/2015 - 13:08 | 6917618 ReasonForLife
ReasonForLife's picture

You didn't think hard enough.  Take a metal with higher specific gravity than gold and mix it in proper combinations with a metal that is lower SG than gold to yield Gold's SG.  It's not rocket science.

 

“A top-of-the-line tungsten alloy fake gold rod should match the color, surface hardness, density, chemical, and nuclear properties of gold perfectly.”

“Start with a tungsten alloy about 1/8-inch smaller in each dimension than the tungsten alloy golden bar you want, then cast a 1/16-inch layer of real pure gold all around it. This product would feel right in the hand, and tungsten alloy golden bar would have a dead ring when knocked as gold should. Gold-plated tungsten would test right chemically, weigh exactly the right amount, and also pass an x-ray fluorescence scan, the 1/16? layer of pure gold being enough to stop the x-rays from reaching any tungsten.”

“Detecting a high-quality tungsten fake gold bar would be extremely difficult. It would likely require significant and material alterations to the bar being tested and this would negatively affect the marketability if its hallmark veracity were vindicated.”

Sat, 12/12/2015 - 22:50 | 6916277 herkomilchen
herkomilchen's picture

Specific gravity covers density (mass and volume).  Ultrasound covers molecular elasticity and boundaries of internal anomalies.  X-ray fluorescence adds a redundant direct check of exterior composition.  Don't see how any blend of metals could fake gold for all of these tests simultaneously.  And all are non-destructive.

Sun, 12/13/2015 - 04:36 | 6916775 Kirk2NCC1701
Kirk2NCC1701's picture

The only metal that can simulate Au in terms of kg/cc is Tungsten.  After that, you use Ultrasound or X-ray Crystallography to ID one or the other.  Non-destructive, fast, reliable.  It's not Dilithium Crystal science. 

Sun, 12/13/2015 - 07:28 | 6916877 Chia-Pet
Chia-Pet's picture

I swear I could have seen teeth marks on one of those there bars.

Sun, 12/13/2015 - 10:14 | 6917111 J Jason Djfmam
J Jason Djfmam's picture

Teeth, the ultimate test.

Sun, 12/13/2015 - 13:11 | 6917652 ReasonForLife
ReasonForLife's picture

You won't see one until you do.  But this is certainly the right approach when dealing with such large bars.

Sat, 12/12/2015 - 19:18 | 6915713 Ignatius
Ignatius's picture

What else would one expect of the home and namesake of the Austrian School?

Sat, 12/12/2015 - 19:21 | 6915727 molecool
molecool's picture

So what was the access number for the vault again? You know - in the spirit of openness and transparency - ahem...

Sat, 12/12/2015 - 19:21 | 6915729 THE COIN
THE COIN's picture

El Chapo will now use Google Earth to Tunnel to it.

Sat, 12/12/2015 - 19:50 | 6915816 Ignatius
Ignatius's picture

Rumor has it that an underground Nazi train is already there, waiting....

Sat, 12/12/2015 - 19:24 | 6915737 kev the bev
kev the bev's picture

"We wonder: why do Austrians celebrate the arrival of their gold and televize it for the entire world to see, while the world's allegedly biggest gold inventory remains a national secret, even, or rather especially, from those to whom it supposedly belongs - the citizens of USA?"

 

I would shorten that somewhat to

 

"why do Austrians celebrate the arrival of their gold and televize it for the entire world to see"

 

Tick tock.....

 

Also , no mention of their bitcoins.....?

Sat, 12/12/2015 - 20:14 | 6915878 nmewn
nmewn's picture

Perhaps because you can't actually see or touch or weigh a virtual BitCoin ;-)

Sat, 12/12/2015 - 20:50 | 6915973 zeronetwork
zeronetwork's picture

I wonder why the celebration, gold is backed by nothing.

https://www.youtube.com/watch?v=BiXIs3bbETA

Sat, 12/12/2015 - 20:59 | 6915996 robertocarlos
robertocarlos's picture

Didn't need to click on that video. She's nice though.

Sat, 12/12/2015 - 19:25 | 6915740 TeamDepends
TeamDepends's picture

15 tonnes and what do you get?
Another day older and deeper in debt
St. Peter don't you call me
'Cause I can't go
I owe my soul to the company store

Sat, 12/12/2015 - 19:27 | 6915745 markar
markar's picture

You have to wonder how much of the London gold they asked to repatriate but were denied.

Sat, 12/12/2015 - 20:11 | 6915871 Urban Redneck
Urban Redneck's picture

15 tons is ONE heavy armored truck load... and then a single flight... and then another armored truck ride.

Not much of a logistical challenge.

Sat, 12/12/2015 - 19:27 | 6915746 moneylover3
moneylover3's picture

Good,now hand all those golds to muslim refugees

It is gold time bitchez...

Sat, 12/12/2015 - 20:00 | 6915844 o r c k
o r c k's picture

If they don't, there will be hurt feelings. Fines will be levied. Suits will be filed. Jobs will be lost. Children will be taken. This is why the refugees were invited, to be given money. Gold is money. And this was not a joke.

Sun, 12/13/2015 - 10:16 | 6917120 J Jason Djfmam
J Jason Djfmam's picture

"Drive 15 tons, whud'ya get, another day older and deeper in debt."

Sat, 12/12/2015 - 19:31 | 6915757 Itch
Itch's picture

Shiny shiny!

Sat, 12/12/2015 - 19:32 | 6915761 ebworthen
ebworthen's picture

Crickets from Fort Knox.

Mon, 12/14/2015 - 11:23 | 6921391 fallout11
fallout11's picture

Ft. Knox is mostly empty, and has been for decades now. Most of what little US gold remains was transferred to the NY Fed repository in the late 1980's, and all 4 billion ounces of silver once contained therein is also long gone....the US Treasury regularly has to purchase silver on the open market to mint silver coinage.  Rumors continue to circulate regarding tungsten-core bars originating from NY.

Sat, 12/12/2015 - 19:32 | 6915762 robertocarlos
robertocarlos's picture

It's tungsten. Best not to admit you got taken to the cleaners.

Sat, 12/12/2015 - 19:34 | 6915770 Amish Hacker
Amish Hacker's picture

Hooray for Austria! How do you say "Keep Stacking" in German?

Sat, 12/12/2015 - 20:38 | 6915940 Caleb Abell
Caleb Abell's picture

Arbeit Macht Frei

Sun, 12/13/2015 - 07:31 | 6916878 XXL66
XXL66's picture

Sprechen sie arabisch

Sat, 12/12/2015 - 20:53 | 6915981 zeronetwork
zeronetwork's picture

"wir sind verdammt."

Sat, 12/12/2015 - 22:57 | 6916313 milking institute
milking institute's picture

STAPELN = STACKING.   ich bin ein stapler! aber sorry im boot kaputt gegangen,viel wasser deep......

Sun, 12/13/2015 - 00:05 | 6916460 Insurrexion
Insurrexion's picture

 

Die Juden nach Auschwitz.

Sun, 12/13/2015 - 10:17 | 6917122 J Jason Djfmam
J Jason Djfmam's picture

Fahrfagnugen!

Sat, 12/12/2015 - 19:35 | 6915771 yogibear
yogibear's picture

The fed laughed at the Germans when they wanted their gold back.

Of course the fed doesn't have all of the German's gold, otherwise they would have given back.

Sat, 12/12/2015 - 19:39 | 6915781 robertocarlos
robertocarlos's picture

Won't give it back

Can't give it back.

 

No matter what the Germans are left holding the bag.

Sat, 12/12/2015 - 20:19 | 6915888 Urban Redneck
Urban Redneck's picture

Only because Frau Ferkel is a limp immitation of President Hollande and couldn't ever measure up to de Gaulle.

Instead of sending the Sachsen to NYC to pick up Germany's gold (or expose the US as a fraud) she sends the frigate to shell goat fuckers...

Sat, 12/12/2015 - 20:34 | 6915928 Otrader
Otrader's picture

Germans and Americans have a lot in common. We're conquered by the banker elites.  We've been hostage to their theft for over a 100 years and there's not a damn thing we can do about it. 

Sat, 12/12/2015 - 20:59 | 6915995 Vuke
Vuke's picture

Strange, all those down votes.....

Sun, 12/13/2015 - 03:47 | 6916743 Innominate
Innominate's picture

It's a poll. People voted "Can't give it back"

Sat, 12/12/2015 - 19:40 | 6915786 PoasterToaster
PoasterToaster's picture

A key aspect of true money is that it has no counterparty risk.  One more thing that lets you know gold is money, while "currency" is a system of fraud and force.

Governments seem to think gold is valuable.  Yet they and the financial establishment run a campaign of slander against it, hoping the people will not try to gain any for themselves.

Sat, 12/12/2015 - 19:46 | 6915811 yogibear
yogibear's picture

"Governments seem to think gold is valuable.  Yet they and the financial establishment run a campaign of slander against it,"

Goverments want unlimited printing/currency without devaluation. 

Sat, 12/12/2015 - 19:41 | 6915797 Government need...
Government needs you to pay taxes's picture

Is that a tungsten tube I see in each of those bars?

Sat, 12/12/2015 - 19:43 | 6915802 Bill of Rights
Bill of Rights's picture

Yummy I'll take two.

Sat, 12/12/2015 - 19:43 | 6915803 katchum
katchum's picture

Austrian Economics of course.

Sat, 12/12/2015 - 19:46 | 6915810 kiwimail
kiwimail's picture

Hey, I'm not showing anyone mine either. Even my wife hasn't seen all of it!

Sat, 12/12/2015 - 22:06 | 6916162 August
August's picture

Your family members should only know about the gold that you're willing to surrender under duress, applied by either government, or smaller-scale criminal enterprise. And for their own good, too.

Sat, 12/12/2015 - 19:50 | 6915820 FX223
FX223's picture

I was wondering why the home depot was out of gold spray paint.

Sat, 12/12/2015 - 20:04 | 6915860 European American
European American's picture

Ahh, liquid sunshine, warms me to the core. Makes me happy I've got a few ozees... long term, long term, long term.

Sat, 12/12/2015 - 20:11 | 6915870 Crush the cube
Crush the cube's picture

They forgot to put Ukraine on the map. 

Sat, 12/12/2015 - 20:33 | 6915927 Caleb Abell
Caleb Abell's picture

All of the Ukrainian gold was on a US cargo plane a day or so after the US helped to bring them "Freedom."

Not a total loss.  They gave the US all their gold, and the US gave them the most expensive cookies in history.

Sun, 12/13/2015 - 06:33 | 6916855 Fractal Parasite
Fractal Parasite's picture

Rumored to be captagon-laced cookies.

Sat, 12/12/2015 - 20:11 | 6915872 Proofreder
Proofreder's picture

I wonder, have the Austrians found

a new use for the "barbaric artifact ???

Sat, 12/12/2015 - 20:11 | 6915873 SubjectivObject
SubjectivObject's picture

Help me out here.

Why the white glove handling of somthing that is, in any normal human supporting environment, "noble"?

Sat, 12/12/2015 - 20:18 | 6915894 tarabel
tarabel's picture

 

 

Don't know, but I might speculate that pure gold is very soft and thus subject to scratching easily. Scratch enough ingots and you might go home with a little Christmas bonus in your pocket. 

Sat, 12/12/2015 - 22:26 | 6916200 August
August's picture

In the Old Days of South African mining, employees who handled PMs left ALL of their clothes at the work-place at change of shift.  I'm not sure if this applied to those with white collars and/or integumentary systems.

Sun, 12/13/2015 - 00:41 | 6916524 WTFMOFO
WTFMOFO's picture

"...So he hid it in the one place he knew he could hide somethin’. His ass. Five long years..."

Sat, 12/12/2015 - 20:50 | 6915976 Who was that ma...
Who was that masked man's picture

As a sign of respect.

Sat, 12/12/2015 - 20:15 | 6915882 NoWayJose
NoWayJose's picture

Austrians = hoarders of barbaric relics!

Sat, 12/12/2015 - 20:16 | 6915886 NoWayJose
NoWayJose's picture

Maybe the Austrians do not wish to store their gold in a Muslim country???

Sat, 12/12/2015 - 20:20 | 6915897 Fuku Ben
Fuku Ben's picture

Monster Boxes of gold bars. Nice! You don't see those every day.

See how easy that was to get a visual on their gold US Citizens. I've heard rumors they're going to hire Geraldo to do the TV special on the Secrets of the Vaults @ Fort Knox & JPM/China in Manhattan just before they crash US economy. They're going to find the same thing as he did in Al Capone's vault & in the basement of the WTC after 9/11. Dirt.

Sat, 12/12/2015 - 20:40 | 6915946 Boing_Snap
Boing_Snap's picture

Hmmm, 1375 lbs per shelf? 2200lbs x 15 ton divided by 24 shelves.

Could use those shelves to park a small car on. Yes sir, some mighty fine workmanship.

 

Sun, 12/13/2015 - 02:31 | 6916673 OldPhart
OldPhart's picture

German Engineering, all the way around.

Sat, 12/12/2015 - 20:40 | 6915947 Full Nelson
Full Nelson's picture

Because its shiny.  Therefore women love it.  Therefore men will kill for it.

Sat, 12/12/2015 - 20:40 | 6915948 Clesthenes
Clesthenes's picture

Where is the gold that “supposedly belongs to the citizens of the USA”?

Actually, the Treasury told the world, 2007 May 14, that a portion of the gold at Fort Knox was about to disappear.  Its asset statement for that date listed one of its assets as “gold… or gold swaps”; previous statements listed the asset as simply, “gold stock”.

This was the Treasury’s way of telling the world it was participating in the so-called gold carry trade.

So, ‘who knows how much gold is left?’

Estimates range from 30% to 80% of its gold has been lost to the carry trade.

But this is a minor problem compared to unanticipated consequences related to government’s attempt to guarantee bank checking deposits – on a world-wide basis, actually.

By these guarantees, when a bank failed, or was seized by the government, all deposits less than $250,000, for example, would be protected; all amounts over that limit would be lost.

This immediately created massive problems for depositors with accounts larger than the limit (wealthy individuals, companies and corporations).

It would, for example, be a disaster for a corporation with a “cash” position of $500,000,000 to be caught in such a bank failure.  (By “cash”, a “bank account” is meant.)

This policy of guarantee set in motion mad scrambles by large depositors to protect their “cash”.  It led to the creation of so-called zero-balance accounts (which go by many names).  By these accounts, positive balances in large checking accounts were swept into US Treasuries at end of each day.  Thus, if the bank failed/was-seized after closing that day, the account holder had nothing to lose.

But there was a limit to this remedy: very quickly, there were not enough Treasuries to satisfy demand, by US banks as well as foreign ones.  This gave rise to the demand for Mortgage Backed Securities (MBS) as a substitute for Treasuries.  This demand was world-wide.  Now, there are probably $6 to $15 trillion MBS serving as so-called “cash equivalents” on corporate balance sheets world-wide.  (Beginning about 15 years ago, corporations began replacing the term “cash” on their asset statements with “cash equivalents”.)

And now all these “cash equivalents” are collateralized by US Treasuries (directly or indirectly): that is, American taxpayers.

Other “cash equivalents” include all US Treasuries; dollar instruments owned by foreign private or central banks; all MBS owned by the Federal Reserve; all currency issued by the Federal Reserve (the scrip we carry in our pockets); and a whole plethora of fruit-cake debt (such as defaulted-SBA loans, defaulted-car-lot loans, defaulted-student loans, defaulted-credit-card debt et cetera).

Few people realize the enormity of collateralizing the world’s reserve currency with such financial trash as enumerated in the above paragraph.

When we trace all these “cash equivalents” to their collateral, we arrive at the gold that may or may not be at “Fort Knox.”

Our problem now is, ‘How do we make the price of that remaining gold equal to the $15 to $20 trillion in “cash equivalents” supposedly collateralized by that gold?’

And who would believe it… until it’s too late.

Sat, 12/12/2015 - 22:23 | 6916207 Lost in translation
Lost in translation's picture

Thank you for this most educational post.

Sun, 12/13/2015 - 01:50 | 6916620 wafer_roll
wafer_roll's picture

>How do we make gold equal to 20 trillion?

 

We inflate the price of gold and silver. Siover to 600, gold to 10k, to maintain the 16:1 gold ratio. I heard congress talking about this several years ago and said there were contingency plans to do so, but  probably with today's debt, it s up to 15k.

Sat, 12/12/2015 - 20:55 | 6915989 Who was that ma...
Who was that masked man's picture

There's some solid gold inside that red and black plaid shirt and it's only guarded by a single button.

Sat, 12/12/2015 - 21:01 | 6916000 Fred Hayek
Fred Hayek's picture

Hey, why don't we compare this to the Dutch video of them bringing their repatriated gold. The Dutch allegedly just got something like 120 tons of their gold back from the Anglo-American scumbag complex. Where's the proof of it? Come on, Holland! Show us the proof that you actually got your gold back, too.

Sun, 12/13/2015 - 04:45 | 6916784 researchfix
researchfix's picture

The Dutch got that gold to play mum about MH17.

They are a trading nation after all.

Sat, 12/12/2015 - 21:40 | 6916076 Miss Expectations
Miss Expectations's picture

.

Sat, 12/12/2015 - 22:11 | 6916171 Omega_Man
Omega_Man's picture

to leave any in UK is insane

Sat, 12/12/2015 - 22:19 | 6916190 22winmag
22winmag's picture

Barbaric collateral.

Sat, 12/12/2015 - 22:32 | 6916239 fukidontknow
fukidontknow's picture

Austria's future looks bright - she looks like she could be pregnant in five minutes.

Sat, 12/12/2015 - 22:32 | 6916240 CHoward
CHoward's picture

The U.S. doesn't have any gold.  The entire system is a fucking sham.

Sat, 12/12/2015 - 22:34 | 6916243 herkomilchen
herkomilchen's picture

The otherwise incongruent inclusion of the girl shows somebody understands this video is pure porn at heart.  Though a more scantly clad, more comely specimen would have better befitted the gravity of that hoard.

Next shipment, more gloved handling and more splayed out testing, please.

Sat, 12/12/2015 - 23:29 | 6916397 Al Tinfoil
Al Tinfoil's picture

If that forklift on the video can lift that pallet of (supposed to be) gold, then that "gold" is more likely to be gold-plated aluminum than solid gold. 

Of they really want to test the bars they got, an assay would be the ultimate proof.  But it seems better to rely upon the numbers on the bars.......

Sun, 12/13/2015 - 00:38 | 6916517 agNau
agNau's picture

Think for a minute about the real bind the comex is in right now.
Up against the wall.
This is a very timely release of disinformation.
Was every bar and every serial number released and shown?

BS

Sun, 12/13/2015 - 01:43 | 6916606 Never One Roach
Never One Roach's picture

Ausgezeichnet!

Sun, 12/13/2015 - 04:09 | 6916761 surf@jm
surf@jm's picture

Oh, so thats why Comex fraud is now up to 300 times more paper, than backing gold.....

poor comex.......LMAO!.........

Sun, 12/13/2015 - 07:46 | 6916892 Double Naught
Double Naught's picture

Jim Sinclair, Adam Hamilton, Ted Butler, Bill Murphy, Bob Moriarty,  Peter Schiff, Jim Willie and all you other golden assholes:

Thanks for almost bankrupting me.

I now invite you to go collectively fuck yourselves.

Sun, 12/13/2015 - 10:24 | 6917134 J Jason Djfmam
J Jason Djfmam's picture

Why? Did you sell your physical gold?

Sun, 12/13/2015 - 13:00 | 6917587 Double Naught
Double Naught's picture

Miners   :(

Sun, 12/13/2015 - 09:13 | 6916988 milanolarry
milanolarry's picture

It would be very funny if the Austrians could also publish the serial numbers of their gold bars.

Sun, 12/13/2015 - 10:58 | 6917212 Bopper09
Bopper09's picture

Why worry about what's in the 'vaults' when you can just pass a law and steal all the gold from your citizens?

Sun, 12/13/2015 - 11:36 | 6917300 directaction
directaction's picture

It'd be far safer for Austria to store its gold in Russia than in that third world cesspool, London.

Sun, 12/13/2015 - 16:24 | 6918507 Praeda2
Praeda2's picture

"By the year 2020, 50% of Austria's gold reserves are to be held in Austria'

hahahaha. There won't be an Austria in 2020.

Sun, 12/13/2015 - 18:06 | 6918928 eileentgif
eileentgif's picture

"Wir wollen das Gold. Sie konnen die Reste haben."

Sun, 12/13/2015 - 23:41 | 6920223 roddy6667
roddy6667's picture

The ratio of real gold to paper gold was 1:293. I wonder how much it changes every time somebody takes a few tons out of the mix.

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