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V15 2012 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 15, Number 6, February 5, 2012, Article 21

THE BANK OF ENGLAND'S GOLD STOCKPILE

Stephen Pradier forwarded this article from The Daily Mail about the Bank of England's stash of gold. Thanks! -Editor

Bank of England Vault

Cash-strapped British people will breathe a sigh of relief when they see these impressive treasure troves.

Despite the financial crisis, it seems the country still has some money left in the Bank of England's vault beneath London.

In fact, there are stacks of gold bars worth a whopping £156billion stored in an old canteen deep below the streets of the capital.

It seems Gordon Brown did not manage to completely strip the country of its assets when he sold off 400 tons of gold at rock-bottom price during his time as Chancellor. The gold he got rid of when prices were at a 20-year low cost the country up to £11bn, it was estimated last April.

On the walls of one of the vaults, posters from the 1940s are still visible, from when the vast room was used as a canteen.

The walls must be literally bombproof as they were used by bank staff as air raid shelters during World War II.

The old-fashioned posters that hang around the room depict sunny climes, luxury cruises and happier times - which may be as welcome a sight as the valuables for many. Three-foot long keys are needed to unlock to the doors that guard the rooms holding the gold - but sadly not all of it belongs to us.

Some is deposited by foreign governments as well as our own. Different shapes and marks distinguish the varying sources of the wealth.

To read the complete article, see: We've still got a few quid then! Bank of England's glittering stash of £156BILLION in gold bars stored in former canteen under London (www.dailymail.co.uk/news/article-2095535/Bank-Englands
-glittering-stash-156BN-gold-bars-stored-canteen-London.html)

Wayne Homren, Editor

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