On King World News, James Turk comments upon the strange case of the western central banks getting so nervous about their foreign exchange scams unwinding in public, that they ordered the Queen of England to wander around the only vault in the Bank of England that has any gold in it, and even that gold is just thin plating wrapped around tungsten bars.
Or it might be.
We just don’t know, do we?
Because no metal auditors are ever allowed in there, and no financial auditors are ever allowed in there either, to untangle all of the leasing encumbrances and swap rehypothecations. As to the other eight vaults we were informed by the BBC that are filled with gold, how about a single uncut video shot walking through all of those too, best of all accompanied by eager independent auditors scurrying over the shelves with ultra-sound monitors and books filled with indexed reference data?
Perhaps the tungsten refabricators haven’t got round to filling the other vaults yet, which is why we never saw them? Who knows?
Was this even inside the Bank of England, or on a sound stage at Pinewood Studios? It’s amazing what you can do with a bit of spray paint.
Message to Mervyn King, at the Bank of England, and all of his other MIT economist friends who listen to his commandments at his Basel monthly meetings: The game’s up boys and girls. We know what you’re trying to pull. Sorry. But it’s just too late. Now try to organise a graceful exit before the market organises an ungraceful one for you instead.