In June the UK received a gold shipment worth $150 million dollars from Argentina. Most likely, the gold was sent by the central bank of Argentina (BCRA) to be used as collateral in the London Bullion Market.
So now that 3 tonnes is on Argentina’s books as well as elsewhere…If Argentina focused on continuing to get their real rate of inflation down, they would get a far greater effective return than any lease rate received on gold (particularly if risk weighted)
What a bonehead Millei is. He could always have written juicy call options against the gold he had in his vaults and kept it safe and sound in his own country,(only surrendering it if he HAD received a nice return on it, which I am sure his fellow Argentinians, seeing the tricks the Fed was pulling with Germany's gold reserves, would have appreciated. The guy is a WEF-bot all the way.
BIG MISTAKE.
Thanks for the article
So now that 3 tonnes is on Argentina’s books as well as elsewhere…If Argentina focused on continuing to get their real rate of inflation down, they would get a far greater effective return than any lease rate received on gold (particularly if risk weighted)
What a bonehead Millei is. He could always have written juicy call options against the gold he had in his vaults and kept it safe and sound in his own country,(only surrendering it if he HAD received a nice return on it, which I am sure his fellow Argentinians, seeing the tricks the Fed was pulling with Germany's gold reserves, would have appreciated. The guy is a WEF-bot all the way.
https://substack.com/@thegoldobserver/p-3853987 FYI