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May. 31st, 2007|08:56 am |
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Gold
Reserves of all reporting Central Banks of the world in 1948, amounted
to 970 million ounces, or 30,170 metric tonnes.
Gold
Reserves peaked in 1966, at 1,230 million ounces, or 38,257 metric
tones.
Gold
Reserves declined to a minimum low of 889 million ounces, or 27,651
metric tonnes in 2003.
Gold
Reserves increased once again, to 919 million ounces, or 28,583 metric
tonnes, in January 2007. A grand total of 90,674 metric tonnes of
gold
have been bought up by private individuals since 1966!
CB
and IMF reported share of
world gold stocks has fallen from 50.34% in 1966 to 18.2% today;
however, careful studies estimate undisclosed Central Bank loans of gold
of up to 15,000 tonnes, which the borrowers (“bullion banks”) sold
to private individuals. If CBs have actually lost 15,000 tonnes of gold
in their useless effort to contain its price, then roughly speaking we
would have:
Ownership of world gold:
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