You are here

Jan Nieuwenhuijs: Argentina's gold reserves arrive in London

Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Thursday, August 15, 2024

In June the United Kingdom received a gold shipment worth $150 million dollars from Argentina. Most likely the gold was sent by the central bank of Argentina to be used as collateral in the London Bullion Market.

Newspaper El País reported on July 28 that part of the official gold reserves of Argentina were transferred abroad. After rumors spread regarding the whereabouts of the Argentinian gold, Minister of Economy Luis Caputo acknowledged that gold was indeed shipped overseas. 

... Dispatch continues below ...


... ADVERTISEMENT ...

USA Gold: Coins and Bullion Since 1973

USAGold, well known for its internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.


"If you have it outside the country, you can get returns," he shared in an interview with an Argentine TV channel. 

According to El País, President Milei hinted that the gold can be used as collateral to take out a bridge loan, which is essentially a swap.

Normally, "monetary gold" (gold owned by a central bank) is exempt from being disclosed in customs data. However, as I have pointed out in the case of the Chinese central bank buying gold in London, if bullion banks take care of shipping and insurance, the metal does show up in cross-border trade statistics. ...

... For the remainder of the analysis:

https://www.gainesvillecoins.com/blog/argentinian-gold-collateral-arrives-in-london

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/powellgata/

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16