Ukraine’s Central Bank chief has divulged some shocking intel: its gold stockpile has reached a new nadir – almost zero. Since the beginning of the year, gold reserves have dropped nearly 16-fold, which begs the question, where did all of it go?
“Official statistics of the National Bank show that the amount of gold in the vaults drastically fell, and it is unclear where it went. At the beginning of this month, the volume of gold was about $1 billion, or 8 percent of the total gold reserves,” the head of Ukraine’s National Bank, Valeria Gontareva, said in an interview with Ukraine’s Kharkiv TV.
As of November 1, the latest available data, foreign currency reserves stood at $12.6 billion, which puts Ukraine’s national gold stockpile at just $123.6 million, ZeroHedge reported.
However, this figure contradicts the $988.7 million, which is the level gold should stand at, if the ratio of gold to total reserves was 8 percent.
In February, before then-President Vicktor Yanukovich was toppled, gold reserves stood at about 21 tons, according to then chairman of the National Bank of Ukraine Sergey Arbuzov.
As we watch the circus go round and round…they are planning their next gold heist.
Which country will it be this time? Well, who has a nice billion plus dollar gold stash that the IMF helped them accumulate that’s ripe for the picking?
Well…who pays for the wars…and who gets the gold?
Where does gold have to go to become legitimate?
It’s very simple actually…a countries debt is placed upon the citizens. The IMF helps countries borrow “money”…countries turn that “money” into a percentage of gold.
When the time is right…the “gold” disappears. Now there’s nothing backing the “money”…now the citizens have more debt. The people who were in charge of the country and the people orchestrating it while this happened play a particularly deadly dance of musical chairs. Someone is going to not have a place to sit.
And banks make it all legal…they almost always have a place to sit.
Let’s see what happens over at Deutsche Bank.