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Turk added this stunning estimate, “At the time I had concluded that it was about 15,000 tons of gold which had actually been put into the market out of central bank vaults. This is approximately half of what central banks reported to own at the time.”

But first, here is what Turk had to say about his last interview titled, “The Entire German Gold Hoard Is Gone,” which has received an incredible amount of attention around the world:“Yes, it’s getting increasing attention, Eric, and rightly so. There has been a lot of deception about how much gold is really in central bank vaults.

The reason why there is this deception, if you look at a balance sheet of a central bank like the Bundesbank, Bank of Italy or the Bank of England, they basically say gold in the vault and gold out on loan, they show it as one line item. They call it, ‘gold and gold receivables.’

Anybody who understands generally accepted accounting principles knows that ‘cash’ is different from an ‘account receivable.’....

Continue reading the James Turk interview

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/29_Turk_-_15,000_Tons_Of_Western_Central_Bank_Gold_Is_Gone.html