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  • » Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

#1 2015-02-01 23:48:28

Bullion Baron
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From: Adelaide
Registered: 2009-09-14
Posts: 7,325
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Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

61_bullion_baron_header_ss.gif

Early in 2014 I lodged a Freedom of Information (FOI) Request with the Reserve Bank of Australia (RBA) to release the list of Gold bars that make up Australia's official reserves. After initial rejection, an appeal with The Office of the Australian Information Commissioner resulted in the RBA providing the list (melter/assayer, gross weight, assay and fine weight), but without revealing the serial numbers.

With 99.9% of Australia's Gold reserves being stored with the Bank of England (BoE) it pleased me to see that in 2014 the RBA had performed an audit on Australia's Gold reserves. I wrote another FOI Request to gather more information on the audit as the single line of text in the Annual Report was lacking in detail, "During the year in review, the Bank audited its gold holdings, including that portion held in safe custody at the Bank of England."

The result of the second FOI Request was a small cache of emails including communications with the BoE prior to the audit.

Something I had read, but overlooked the importance of, when the Gold bar list was originally provided was the difference between the BoE's bar number and the refiner bar number... Read More

CONTINUED: Reserve Bank of Australia & The Missing Bar Numbers

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#2 2015-09-24 04:55:55

silversearcher
Silver Stacker
From: Australia
Registered: 2012-11-06
Posts: 687
Trades :   13 

Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

This was a very interesting read. Do all Commonwealth countries have to store their Gold with BOE  ? And yes the  RBA's audit needs to be tightened up. This sounds rather slack considering the wealth at stake. Any mention of storage fees in FOI  request ? Cheers

Last edited by silversearcher (2015-09-24 04:57:02)

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#3 2015-09-24 05:06:50

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,325
Trades :   139 
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

silversearcher wrote:

This was a very interesting read. Do all Commonwealth countries have to store their Gold with BOE  ? And yes the  RBA's audit needs to be tightened up. This sounds rather slack considering the wealth at stake. Any mention of storage fees in FOI  request ? Cheers

Ronan Manly recently wrote up a breakdown of known BoE stored Gold: https://www.bullionstar.com/blogs/ronan … f-england/

Haven't seen any mention of storage fees, but likely the sort of information that would have been kept confidential.

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#4 2015-09-24 05:21:37

hiho
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From: South Brisbane
Registered: 2011-04-04
Posts: 8,100
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

did I miss something, how much gold do we have?

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#5 2015-09-24 06:15:22

Bigfella
Silver Stacker
From: Australia
Registered: 2013-05-03
Posts: 1,816
Trades :   207 

Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

http://basic-fraud.com/

Do Some reading guys and then see what you think......


Be the change you want to see in the world ( GANDHI )

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#6 2015-09-24 06:30:16

Bullion Baron
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From: Adelaide
Registered: 2009-09-14
Posts: 7,325
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

hiho wrote:

did I miss something, how much gold do we have?

Around 80 tonnes

http://www.bullionbaron.com/2012/12/rba … nk-of.html

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#7 2015-09-24 23:51:12

Monsta
Member
From: Sydney AU
Registered: 2015-09-24
Posts: 339
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

Time to get it back. If it is good enough for the Germans.....


Opinions expressed are my own, correct, and generally unpopular with others. All rights reserved, some wrongs still available.
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Currently Stacking: Silver kilobars via allocated as the prices drop.

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#8 2015-09-25 01:22:21

SpacePete
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Registered: 2014-03-01
Posts: 13,437
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

Monsta wrote:

Time to get it back.....

So we can dump it at an idiotic low price like last time?


Catus amat piscem, sed non vult tingere plantas

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#9 2015-09-25 03:01:37

Monsta
Member
From: Sydney AU
Registered: 2015-09-24
Posts: 339
Trades :   

Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

SilverPete wrote:

So we can dump it at an idiotic low price like last time?

I'm advocating expanding the reserves, not selling. And yes, that was a completely stupid move by Howard & Costello.


Opinions expressed are my own, correct, and generally unpopular with others. All rights reserved, some wrongs still available.
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Currently Stacking: Silver kilobars via allocated as the prices drop.

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#10 2015-09-25 03:16:29

screaming eagle
Silver Stacker
From: Sydney
Registered: 2014-01-05
Posts: 433
Trades :   64 

Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

I'd prefer we liquidated some Gold first, as opposed to selling off our arable land, water, energy and mining leases.

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#11 2015-09-25 04:39:06

willrocks
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From: Yesterday
Registered: 2012-05-10
Posts: 7,635
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Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

screaming eagle wrote:

I'd prefer we liquidated some Gold first, as opposed to selling off our arable land, water, energy and mining leases.

I'd prefer we cut back gov spending and the welfare state, as opposed to selling off our land or Gold.


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

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#12 2015-09-25 04:41:48

willrocks
Silver Stacker
From: Yesterday
Registered: 2012-05-10
Posts: 7,635
Trades :   29 

Re: Bullion Baron: Reserve Bank of Australia & The Missing Bar Numbers

Bullion Baron wrote:
hiho wrote:

did I miss something, how much gold do we have?

Around 80 tonnes

http://www.bullionbaron.com/2012/12/rba … nk-of.html

About 4 grams per person.


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

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