Canada selling off there Gold , whats happened ?

[H-2 CHARLIE]

Official International Reserves - March 3, 2016

 

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[Alex Burke]

My first impression was that they are talking about International reserves not actually in the country and that would make more sense as national reserves would be listed differently. Canada mines a lot of gold and the breakdown of the chart with the securities etc seems to be just their international holdings. Someone else will hopefully know better.

 

[Clay Diggins]

Canada has 77 ounces left. That's more than most countries.

NOTES:

The Government of Canada sold 21,851 ounces of gold coins for settlement in February. On February 29, gold holdings stood at 77 ounces.

Echos only at Fort Knox. JP Morgan sold the leased gold decades ago.

Why do you think this stuff is so valuable? Get u sum.

Heavy Pans

 

[Hoser John]

OMG I have more gold than the country of Canada- insane world as with nothing to back up their currency is pretty risky-John

 

[GoldpannerDave]

I could give you a good guess but I am supposed to avoid politics--unfortunately some answers are political.

 

[goldenIrishman]

OMG I have more gold than the country of Canada- insane world as with nothing to back up their currency is pretty risky-John

LOL Maybe you can get a good price on a country of your own John!

 

[Hoser John]

Been looking for over 20 years but too bloody dangerous with drug wars, ungodly uncureable diseases, crocodiles, hippos, lions, tigers, many kinds of bears(Kodiak are bad in the am) political wars, countries stealing mining rights(costa rica) and nationalizing banks(Ecuador) and giving 2 cent on the dollar. Almost all my friends/associates have abandoned Africa, Mexico, south and central America and run with what they could. My good buddy Daniel wants me to go to Ireland this summer with him to looksee?? Good Irish whiskey and a bonnie lass just might be a nice change after dredging all day as decent gold in numerous spots. John

 

[goldenmojo]

John I say with that much gold you should start your own country.

 

[Hefty1]

John I say with that much gold you should start your own country.

John doesn't need a country of his own....He already lives in his own little world.

 

[H-2 CHARLIE]

guess cansda has to pay for that new socialism

 

[goldhog]

Within 4 months of Trudeau’s new government taking power all the gold was sold off.
Which wasn't much FYI.
"On November 4th, 2015, the day the Trudeau government was sworn in, the finance department’s international reserves report showed we had $110M US worth of gold. A month later it was $102M US. By January we were down to $58M, $24M in February and now nothing."

 

[Hoser John]

Actually Hefty a great big old world chock full of friends, associates, old confidants, 3 generations of kids-gkids-ggkids, numerous charities, I own all I need, want or desire, NO debts as always pay cash for "everything" so really nice and warm even after the last 2 days of blessed deluge. We are BOTH missing what we covet but there are always work arounds Spend the rainy days at the spa/gym in the sauna, jacuzzi, pool and working out getting ready for springs chores.....COME ON RAIN WE NEED 30" MORE. Just suffering along best I can hahahaha yaa right-John

 

[Hefty1]

Actually Hefty a great big old world chock full of friends, associates, old confidants, 3 generations of kids-gkids-ggkids, numerous charities, I own all I need, want or desire, NO debts as always pay cash for "everything" so really nice and warm even after the last 2 days of blessed deluge. We are BOTH missing what we covet but there are always work arounds Spend the rainy days at the spa/gym in the sauna, jacuzzi, pool and working out getting ready for springs chores.....COME ON RAIN WE NEED 30" MORE. Just suffering along best I can hahahaha yaa right-John

Well ok...BIG ol World! But its your own. My Friend.

 

[GoldpannerDave]

Within 4 months of Trudeau’s new government taking power all the gold was sold off.
Which wasn't much FYI.
"On November 4th, 2015, the day the Trudeau government was sworn in, the finance department’s international reserves report showed we had $110M US worth of gold. A month later it was $102M US. By January we were down to $58M, $24M in February and now nothing."

See, like I said, political. Good info here, goldhog.

 

[Hoser John]

All of us miners are in a shrinking world as our great past is slowly erased. All the great men who have gone on to that paystreak that never ends. Karl Von Mueller, Mac Montenegro, Erwin Lee, Jim Harrand,Mackay, original Keene brothers,Sato family and your great father Hefty also was one of those folks you considered yourself lucky to have met/known or associated with, and any of these folks who MADE mining real for many years... Contraction sucks-John

 

[meMiner]

Not to worry, they can always buy it back when the price goes up. Actually, I should not joke, what they did is a crime. I am actually surprised they did not say that they intend to plant the remaining 73 oz and grow some more....

 

[meMiner]

I thought about this a bit more. Wanna bet it is currently being recast in the US for shipment to Germany for the repatriation? A cover-up for another crime - if the US does not have the German gold that they were safekeeping....

 

[Alex Burke]

I was just reading this report and thought of this thread. This is where the gold goes? Mostly Russia, China and even Iraq it looks like. How does Iraq buy 47 tons of gold in 2014 in just a few months? Conspiracy theories welcome
http://www.gold.org/download/file/4725/changes_latest_as_at_april2016_ifs.xlsx

 

[Hard Prospector]

The western democracies turned "social republics" don't want any gold laying around to remind them of fiscal restraint. Better to print and spend, keeping all their fractured groups of constituents happy.........one election at a time.

 

[KevinInColorado]

I was just reading this report and thought of this thread. This is where the gold goes? Mostly Russia, China and even Iraq it looks like. How does Iraq buy 47 tons of gold in 2014 in just a few months? Conspiracy theories welcome
http://www.gold.org/download/file/4725/changes_latest_as_at_april2016_ifs.xlsx

Iraq buys it with oil profits. Their oil wells are some of the lowest cost to operate in the world...pump for $7, sell for $30...wow!