Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
By Not Renewing The CBGA, Central Banks In Europe Are Ready To Buy Gold
07-29-2019, 12:42 PM,
#1
By Not Renewing The CBGA, Central Banks In Europe Are Ready To Buy Gold
By Not Renewing The CBGA, Central Banks In Europe Are Ready To Buy Gold

Last month, a BullionStar article titled “The Fifth Wave: A new Central Bank Gold Agreement?” brought your attention to the fact that the fourth and current round of the Central Bank Gold Agreement (CBGA) run by a cartel of heavyweight central banks in Europe was about to expire, and that these gold agreements, which have been running in rolling five year periods since September 1999, were not designed for the purposes they claimed to be.That CBGA1 and CBGA2 from 1999 – 2008, were not intended to help the wider gold market by limiting central bank gold sales, but were really a cover by the central bank syndicate members to account for nearly 4000 tonnes of gold that had already been sold or leased in the 1990s. That CBGA3 was then used to distract the gold market about the secretive ‘gold sales’ that the IMF claimed to have undertaken in 2010, which were really another book squaring exercise for disposed IMF gold.The heavyweight signatories to the central bank gold agreements (CBGAs) include Eurozone member banks such as the Bundesbank, the Banque de France, Banca Italia, De Nederlandsche Bank, National Bank of Belgium, the European Central Bank (ECB) itself, as well as the non-Eurozone Swedish Riksbank and the Swiss National Bank. In its composition, the consortium replicates the nexus of the 1960s London Gold Pool (Switzerland, Germany, France, Italy, Netherlands, Belgium) and the nexus of the central banks which met at the Bank of International Settlements (BIS) in 1979 and the early 1980s to plan a secretive new 1980s gold pool.Read the entire article
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)