The RBA is colluding with global banks against our national interest.
In Estimates I asked the RBA how much it costs to store our gold with the Bank of England.
They of course had to take it on notice.
I asked if it would be worth storing our gold in the vaults of the RBA building, which is currently incurring a billion dollar bill to remove asbestos.
At the bottom of the building are vaults which used to hold cash but given the decline in its usage they are now empty.
They would be perfect to store gold bars.
Notice how Chris Kent the RBA Deputy Governor literally chokes on his own anxiety as he argues it would cost too much to bring it home.
Funny that. It didn’t cost to much to send it the Bank of England.
And apparently it wouldn’t be able to be lent out if it was in Sydney.
Yet again why is the RBA lending gold which works to lower the price received by Australian gold miners?
The answer of course is because the RBA is a puppet of the International banking regime.
Previously I’ve been told by the RBA the gold bars don’t move when they are lent out so what difference does it make as to where the gold bars are stored.
The reality is that the International Banking regime has to keep the price of gold suppressed by manipulating its supply through artificial selling.
Bankers rely on the creation of paper money to generate an income.
As the paper market becomes more and more fragile with ever increasing amounts of debt, people and governments turn to gold to protect their wealth.
The bankers are trying to protect their racquet for as long as possible before it all collapses.
And I quote:
“Renovating the Reserve Bank of Australia’s (RBA) headquarters is increasingly looking like a disastrous episode of home-building show Grand Designs.
The key difference? The budget for the horror reno is now north of $1 billion.
Documents obtained using the Freedom of Information (FOI) process detail the difficulty and unexpected expense of renovating the central bank’s flagship office at 65 Martin Place in Sydney, built in 1964.”
Quote from:
https://amp.abc.net.au/article/103871056
Economics Legislation Committee
05/06/2024
Estimates
TREASURY PORTFOLIO
Reserve Bank of Australia
Senator RENNICK: I want to table those serial numbers as well, if that’s all right. Could I get on notice—because I’m pretty sure you won’t know off the top of your head—how much the RBA and the government of Australia pay the Bank of England to store the gold in England? The reason I ask is, as you know, we’ve just been on a public works committee where we’ve been down into the basement of the RBA building. There are obviously vaults and things down there. Would it be possible to bring our gold back to Australia and store the gold in the vaults at the bottom of the RBA building? That would be a way to pay for the cost of the asbestos removal. That’s going to cost about $1 billion. Wouldn’t it be a way to help pay for refurbishing the RBA building?
Ms Bullock: We can take that on notice.
Dr Kent: We can take that on notice. What you’d be doing, though, is spending a lot of money to securely bring all that gold back. That’s 80 tonnes of gold under security plus all the freight. The other thing you’d be—
Senator CANAVAN: [inaudible]
Dr Kent: Potentially, yes. It would take some time. You’d have to find someone to buy it from. The other thing you’d be doing is you’d be giving up the option to lend out that gold, and—
Senator RENNICK: As you’ve said in the past though, that gold doesn’t move; it’s just a—
Dr Kent: It’s lent out to people who pay us interest for those loans while—
Senator RENNICK: That’s right, but you can still do that if the gold’s here. That’s all electronic.
Ms Bullock: No.
Dr Kent: No. They don’t want it here in Sydney; they want it in London.
Senator RENNICK: Yes, that’s what worries me. As you’ll see when I table these figures, the serial numbers have all been refined from 2014 or 2015 onwards. That’s part of the reason. I don’t want to dwell on that, because I’ve got a short period of time.
