Bank of England Delays Gold Delivery For Up to Eight Weeks
Fri 4:05 pm +00:00, 31 Jan 2025He calls it the biggest news in the gold market since Gordon Brown sold UK’s gold
FT says “London shortage” of gold
So Bank of England is de facto defaulting
Because they’ve “leased out more gold than they have”
So deliveries are “diminished”
“You either have the gold or you don’t”
BoE in big trouble
Why is this serious?
They are desperate, it smells
BoE highly leveraged
“You won’t hear word default”
Potential to destroy the paper gold game
BoE and big banks decline to comment
Source: https://www.youtube.com/watch?v=0KlQXJ9EuhY
