SG Talk

RBA to audit Australia’s 80 tonnes of gold in London

Apr 7, 2022 – 11.43am

A senior Reserve Bank official is about to jet off on an all-expense taxpayer-funded trip to London to check that Australia’s 80 tonnes of gold bullion is still in the Bank of England’s vaults.

(09-04-2022, 03:18 AM)Scythian Wrote: [ -> ]RBA to audit Australia’s 80 tonnes of gold in London

Apr 7, 2022 – 11.43am

A senior Reserve Bank official is about to jet off on an all-expense taxpayer-funded trip to London to check that Australia’s 80 tonnes of gold bullion is still in the Bank of England’s vaults.

Did Singapore MAS ever done it?

Why is that something in Singapore which you never heard of a lifetime?

When is President Halimah going to pass an order to do it?

no need no need
US and its allies have frozen Moscow’s access to more than half of its $630bn in foreign reserves
The implication – that reserves held by unfriendly governments can be turned into “worthless computer entries” – is likely to drive a shift out of dollar assets and into alternatives such as “gold and Chinese assets”. That could undermine the dollar’s role as the world’s leading currency.
Dollar dominance rests on two pillars. First, it accounts for about 59% of the foreign exchange reserves held by the world’s central banks, far above the second-placed euro, on 20%. China’s renminbi accounts for less than 3%, a lower share than the British pound. Second, the dollar is the default currency used in international transactions. 

In February only one transaction in every five registered by the Swift messaging system did not have a dollar leg.

Rouble has recovered more than the ground loss following the West's sanctions


and with reduced interest rates

West is desperately trying to sanction Russia into economic submission, but is only succeeding in driving up energy, commodity, and food prices against itself. Central banks will have no option but to inflate their currencies to pay for it all. Russia is linking the rouble to commodity prices through a moving gold peg instead, and China has already demonstrated an understanding of the West’s inflationary game by having stockpiled commodities and essential grains for the last two years and allowed her currency to rise against the dollar.
China and Russia are not going down the path of the West’s inflating currencies. Instead, they are moving towards a sounder money strategy with the prospect of stable interest rates and prices while the West accelerates in the opposite direction.
The dollar and Western currencies, not the rouble, will have the greatest difficulty dealing with the end of fifty years of economic financialisation.

Main-stream media is still reporting yesterday’s battle.

US Administration passed a death sentence on its own hegemony in a last desperate throw of the dollar dice. Not only did it misread the Russian situation with respect to its economy, but America mistakenly believed in its own power by sanctioning Russia and Putin’s oligarchs.
It may have achieved a partial blockade on Russia’s export volumes, but compensation has come from higher unit prices, benefiting Russia, and costing the Western alliance.

You do not sanction the world’s most important source of energy exports and the marginal supplier of a wide range of commodities and raw materials, including grains and fertilisers, without damaging everyone but the intended target. Worse still, the intended target has in China an extremely powerful friend, with which Russia is a partner in the world’s largest economic bloc — the Shanghai Cooperation Organisation — commanding a developing market of over 40% of the world’s population. That is the future, not the past: the past is Western wokery, punitive taxation, economies dominated by the state and its bureaucracy, anti-capitalistic socialism, and magic money trees to help pay for it all.

(09-04-2022, 05:15 AM)singlon Wrote: [ -> ]You do not sanction the world’s most important source of energy exports and the marginal supplier of a wide range of commodities and raw materials, including grains and fertilisers, without damaging everyone 

But Singapore doesn't know the economics and impact.

..
Over the years, President comes and goes with multi million $$$ earnings and none knows what's inside nations vault or orders to audit Singapore reserves .

Only excuses

钱能使鬼腿末...

(09-04-2022, 03:18 AM)Scythian Wrote: [ -> ]RBA to audit Australia’s 80 tonnes of gold in London

Apr 7, 2022 – 11.43am

A senior Reserve Bank official is about to jet off on an all-expense taxpayer-funded trip to London to check that Australia’s 80 tonnes of gold bullion is still in the Bank of England’s vaults.

what reserves ??

since every country is in debt to the Jewish-owned private central banks....................all the gold belong to the Jews..............all reserves are just wayang only

Probably, MAS do nothing at all

Her huge 'supply' of fiat USD Inc is now in danger of melting  like ice-cream
we have to define Money and currency in the transition to sound money
for ex Singapore buys Russian wheat
we open an acct in Russian bank and deposit the roubles we bought to buy the wheat
accepted cross-border transfer app becomes a necessity
for ex singlon sends 10,000,000Rp costing S$960. In the  past u got an instant SMS to confirm deposit into said acct.
Now might be nothing becos u might meet scrutiny by MAS or Bank Indonesia

PS
Bank defaults r serious affairs, in the past u just write another cheque to balance ur daily 'money launderings'
now cannot. Defaults if not carried by others will leads to Debtors servicing say mortgages escaping.

And u already know the Ukrainian war must be prolonged to get the hyperinflation going
with the Gang of 5 choking the Harlot
Instant Deflation is worse than 1929

..

None of Singapore past and present President knows the true asset's valuation of our nations reserves or what's inside the vaults.

"What is the purpose of handing and taking over procedure?

The goal of the handover process is to maintain continuity and the formal transfer of responsibility and accountability between the respective parties."
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