Turns out the Bank of England doesn’t have the gold it’s supposed to have. The lid was blown off because wait times for withdrawals went from a day to 8 weeks. Supposedly, majority of it has been shipped to New York as FT reports. However, the math here doesn’t add up. 393 metric tonnes was sent to New York, but The Bank of England is supposed to have over 5,000 tonnes. What was sent is less than 10% of the total reserves. So where’s the rest of the gold?
Either the Bank of England is lying about their reserves or the amount that was sent to New York.
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All those golden handshakes had to come from somewhere.
