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mccarthyfxfi

Belgium Denies To Repatriate Gold From The Uk

There are other and more effective ways to verify if the gold in London is really ours. We have an audit committee that inspect the Belgian gold in the UK regularly. Repatriating would be more expansive with transport, storage and security costs. One thing is for sure, the Belgians are very nervous about their gold (227 tonnes) held abroad. In December 2014 the Luc Coene admitted he was investigating to repatriate all Belgian gold reserves, on TV-network VTM Nieuws: Luc Coene: If one feels that in surrounding countries these decisions are taken, one knows that this question will be asked to visit this page us as well.So were pro-active investigating all the elements, so when the question will be asked, we can answer it. The practical problem is the transport of the gold, with all the risk that come with it.Second, if we repatriate we need to setup a large security system in Belgium.Though currently this is done by certain central banks that are specialized in this. Did the investigation point out the transport and storage costs would be too high? Currently the storage fee NBB pays to its custodians (BOE, BIS, Bank of Canada) is 250,000 a year. Is Belgium not repatriating because of the costs or because it got obstructed by other authorities? seo
More: http://news.goldseek.com/GoldSeek/1423146296.php

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