The Mexican standoff -- gold, Banxico, and the Bank of England

Jan Skoyles: The Mexican standoff -- gold, Banxico, and the Bank of England

Submitted by cpowell on Wed, 2013-03-06 17:34. Section: Daily Dispatches 12:30p ET Wednesday, March 6, 2013

Dear Friend of GATA and Gold:
Picking up on financial journalist Guillermo Barba's report last month about clamor for the Bank of Mexico's phantom gold reserves to be audited (http://www.gata.org/node/12282) and Alasdair Macleod's calculation that the Bank of England can't be holding as much official gold as generally thought (http://www.gata.org/node/12294), Jan Skoyles of The Real Asset Co. in London today reflects on the dilemma facing central banks that get caught in their own or someone else's fractional-reserve gold banking system. Skoyles' commentary is titled "The Mexican Standoff: Gold, Banxico, and the Bank of England" and it's posted here:
http://therealasset.co.uk/mexico-gold-bars-banxico/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.