Ukraine’s Gold Mysteriously Vanishes

Conspiracy theorists unite. Ukraine lost nearly all its gold during the coup.

Bullion.Directory precious metals analysis 18 November, 2014
By Christopher Lemieux
Senior FX and Commodities Analyst at FX Analytics

Today, the head of Ukraine’s central bank just issued a stunning statement: “in the vaults of the central bank, there is almost no gold left. There is a small amount of gold bullion left, but it’s just one percent of reserves.”

This is rather obtuse since the official statistics from the National Bank of Ukraine indicate that actual gold holdings at the beginning of the month should be seven percent higher.

According to the World Gold Council, Ukraine should have just over 42 tons of gold in their vaults, or roughly eight percent of its reserves. In profound conspiracy theory (that dates back to last March), the gold was likely shipped off to the United States – a price paid to overthrow Viktor Yanukovych?

In February, when the Russian-Ukraine conflict began to heat up, Ukraine’s gold reserves were estimated to come in at $1.8 billion, or 12 percent of reserves. Now, if one was to believe the eight percent holding at the beginning of the month, that would estimate its value at $988.7 million.

If we were to believe the, now, one percent reserve holdings, the value would have been taken from $1.8 billion to a meager $123.6 million, as reported by Rusila. The central bank, by someone’s authority, has been either “selling” or has outright given away its entire gold stash in nine months.

On March 7, Inckpa News reported an suspicious event that took place at the Boryspil airport. Several cargo vans pulled up to unload roughly 40 heavy creates into an unmarked airplane, from those unmarked vans.

Those to accompany the mysterious shipment were all dressed in black with body armor, some with assault rifles. The article finishes off with (translated into English):

Later, the editors called back one of the senior officials of the former Ministry of Income and Charges, which reported that, according to him, tonight, on the orders of one of the “new leaders” of Ukraine to the United States was taken all the gold reserves of Ukraine.

Some are asserting that the Federal Reserve now holds what was Ukraine’s gold in the New York Fed’s gold vaults in a time where many are questioning whether or not the Fed actually owns the gold on its books and countries are looking to repatriate their own gold from the Fed vaults.

Suspect? Yes, but it may be virtually impossible to prove such an event.

World Gold Council records up to Q2 2014:

The original news post of NBU’s admittance (not in English, sorry!):

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