Mint can’t account for missing gold

A significant quantity of gold, silver and other precious metals is unaccounted for at the Royal Canadian Mint.

External auditors are investigating a discrepancy between the mint's 2008 financial accounting of its precious metals holdings and the physical stockpile at the plant on Sussex Drive in Ottawa. The mystery raises possibilities from sloppy bookkeeping to a gold heist...

Full article

Uh oh!

Sounds like the US is not the only country with it's gold reserves in doubt.

Read the related post "Did U.S. Export Over 175 Million Ounces of Gold?"
www.abovetopsecret.com...

Originally posted by warrenb

A significant quantity of gold, silver and other precious metals is unaccounted for at the Royal Canadian Mint.

External auditors are investigating a discrepancy between the mint's 2008 financial accounting of its precious metals holdings and the physical stockpile at the plant on Sussex Drive in Ottawa. The mystery raises possibilities from sloppy bookkeeping to a gold heist...

Full article

Uh oh!

Sounds like the US is not the only country with it's gold reserves in doubt.

Read the related post "Did U.S. Export Over 175 Million Ounces of Gold?"
www.abovetopsecret.com...

Great find. Are these articles linked at all? Does one country make mention of the other anywhere? This is pretty scary. Why would any country "export" a large amount of their reserve? How many heads will roll over an "auditing discrepancy" in the U.K.? That wouldn't fly at my job, and we don't deal in the trillions!!!!!

As always, the following is not a recommendation to buy, sell, or hold any assett; -Silent.


Well I'm sad to say looks like another of my predictions is becomong fact. I knew eventually a major scandal to the effect that some "gold-backed" instution would have in actualoty much less gold that it stated. I expected it to be a private firm rather than a major govt, which is far worse than even my feverish paranoind sweatdeams.

At any rate, the revelation of inusfficent gold assets itsef in turn will lead to scrutiny of ETFs and "gold funds," "slips of deposit," official storage in Swizerland, etc..." and I will bet you dollars to donuts the situation on the deregulated private sector will be even worse. Maddoff-like, when there hasn't been raw criminality at work, there will have been just your typical bankster greed seeking and getting lower and lower effective reserve accounts...so most will be as out of luck as the losers holding GM today.

PHYSICAL GOLD, SILVER AND PLATINUM with some yen is the way I contine to go. These days, to hedge against the possibility of a gold-grab by Obama/FEMA, whoever...like the one Roosevelt implemented (certainly a precident exists in histoty), I've been buying sold-gold heirlooms, and other items. Even if a bit overpriced I consider it good insurance.

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[edit on 6/4/09 by silent thunder]