The Bank of Mexico Reveals Its Gold Bar List

The Bank of Mexico (Banxico) has become one of the first central banks in the world to reveal its gold bar list.

In this space we have recommended that Banxico and any other investor with positions in gold as a store of value and financial insurance should maintain physical possession of its bars, or at least, store them in a secure vault on an allocated basis.

Last December, thanks to an official Request for Information by means of the Transparency Law, Banxico informed us that:

‘Of the 3.881 million ounces of gold that the Bank of Mexico has at the end of October 2016, 98.95% are held in the United Kingdom, 0.0004% at the Federal Reserve Bank in the United States and the remaining 1.05 % in Mexico.’

Banxico also told us that it had a total of 7,265 gold bars in allocated accounts at The Bank of England (BoE), which means that only about 2.9 million ounces are well identified with serial number, brand code, gross weight, assay and fine weight at that location.

The rest –more than 930,000 gold ounces at the BoE- are still ‘held’ on an unallocated basis. These unallocated accounts are those in which the ‘owner’ has not been assigned specific gold bars but simple ‘rights’ to a certain amount of gold. That is why Banxico could not tell us how many ingots it owned in this last case.

The Mexican central bank didn’t give us details on the number of bars or coins it has at the Fed nor at its main vault in Mexico City.

In any case, the problem with unallocated accounts is that, there are in fact more ‘owners’ of the same gold than (unassigned) bars. This means that the same gold is sold multiple times, and in the case of a crisis in which those ‘owners’ demanded the delivery of the metal, there would not be enough gold for everyone.

For this reason, a monetary authority, such as Banxico, should never have unallocated accounts since gold reserves are purchased to offset risk in fiat currencies, to not have another ‘paper’ risk.

We hope that Banxico will correct soon this situation and not only have all of its gold reserves on an allocated basis but (at least) half of them in Mexican territory. Repatriation is the name of the game, a game that every central bank should play.

Meanwhile, we are happy to share with you Banxico’s 7,265 gold bar list that it gave us through the document number LT-BM-18703. It’s a small step in the right direction, that of transparency. Congratulations, Mr. Carstens!

We hope that from now on, other central banks will publish their own lists. Gold market participants have the right to confirm publicly that their bars are theirs and only theirs.

Dowload the complete list here.

E-mail: inteligenciafinancieraglobal@gmail.com

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Full Article Here: http://www.guillermobarba.com/the-bank-of-mexico-reveals-its-gold-bar-list/

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Barry Murray of... (not verified)

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Wow. Guess the US won't be able to grab Mexico's physical gold to pay for our fearless leaders wall. So what happens when El Chapo Guzmán finds out his treasury of devalued pesos has disappeared into a country whose pound of sterling silver currency is also devalued to .82¢ ? Especially as Mexico is about ready to back the release of a government silver standard, which would seriously cause problems for a paper U.S. Silver Dollar that doesn't ring anymore anymore when tossed upon the counter of a store in our own silver mining camps.
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TheTruth (not verified)

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Every Country in the World needs to post all of their Gold Assets held in Foreign Accts. This way they cannot create all of this phony paper holding the physical price down. What a scam. All of the Gold in other peoples Vaults are loaning it out, leasing it out, creating massive Rehypothification phony paper based on other people gold. Go take your gold back in Physical before the music stops. Like Mexico has the ability to go attack England demanding their gold back. Sorry suckers.. SOL>
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Rip Uoff (not verified)

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Everyone,......let ME hold your Gold and I'll give you a piece of paper too, along with .5% annual interest. You win ! (Just don't ask for your gold back anytime soon).
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Goldbug (not verified)

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Get your gold in your own vaults! Unless you can't secure it!!
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KansasCrude (not verified)

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Cheers to Mexico bold and the RIGHT move to show transparent information. Again KUDOS. IMO now get your gold out of London ASAP. Those folks are crooks. If you can't hold it you don't own it. BEWARE!
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stupid did (not verified)

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adios amigos
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Bob (not verified)

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What a load of nothing
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john (not verified)

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If the U.K> is holding Mexican gold why are they not paying the Mexican's interest on there gold holding? I s not this stealing the peoples of Mexico money? Go back in history when the gold smith held your gold you got interest ? What happened?
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JMK (not verified)

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Mining gold on a printer has no risk for the owner of the printer just for the people dump enough to buy the paper gold. Writing an IOU an putting it on a rattrap wouldn't catch a rat but why do people fall for the same trick? Need a Hedge to Hedge against the Hedge.