Open letter to Mr Christian Noyer on the gold reserves of France
By GCRU Gold News on Tuesday, November 25 2014, 23:58 - Permalink
In monetary Cold War played between the Western countries and the BRICS countries, gold gradually takes an important role. According to the World Gold Council, China's official gold reserves, India and Russia have increased significantly between 2007 and 2013.
For these reasons and because of the rapid growth of global systemic risk, it is of utmost importance to the future solvency of our nation to engage, by mid-2015, a detailed audit procedure, the results will be the subject of a report. This report must obtain validation of French macro-prudential authorities, ACPR, and will be made public in the year.
This comprehensive audit should contain:
- A complete inventory of physical gold amounts to 2435 tons currently displayed and their quality (serial number, purity, bars 'Good Delivery' ...), conducted by an independent French body (to be defined). This inventory, under supervision of a bailiff, must indicate the country in which the gold reserves are stored in France or abroad.
- A census of all formal financial employment agreement or secret vis-à-vis private banks and corporations, or bilateral loan between France and national and international institutions, having pawned the gold of France to ensure rescue of the euro. In this case, the comprehensive audit should contain the conditions of agreement or loans.
Also, depending on the situation we discover, I urge you to do it:
- In urgent repatriation on French soil of all of our gold reserves located abroad.
- In immediate discontinuation of any gold sales program.
- Conversely, a gradual reallocation of a significant portion of foreign exchange reserves in the balance sheet of the Bank of France by buying gold at each significant decrease in the price of an ounce (recommendation 20%) .
- A suspension of any financial commitment or loan contract would wager that our gold reserves.
- At the patrimonial and financial balance of the 2004 gold sales transactions ordered by N. Sarkozy.
Open letter to Mr Christian Noyer on the gold reserves of France