La BN Suisse va revendre de l'or

C'est une épidémie :

BNS/vente de 250 tonnes d'or d'ici septembre 2009 (dév.)

(AWP/14 juin 2007 11h52)

Berne (AWP/ats) - La Banque nationale suisse (BNS), qui a une nouvelle fois resserré sa politique monétaire jeudi, a aussi décidé d'adapter la structure de ses réserves. Elle vendra 250 tonnes d'or d'ici septembre 2009 et accroîtra ainsi le volume des devises.

A l'issue des ventes, la banque centrale détiendra environ 1040 tonnes d'or. Le total des réserves monétaires restera inchangé, a indiqué Thomas Jordan, membre du directoire de la BNS, devant la presse à Berne.

Les réserves en devises et en or de la BNS lui fournissent la marge de manoeuvre nécessaire à sa politique monétaire. L'institut d'émission souhaite rééquilibrer leur composition, car la part des réserves métalliques a grimpé d'un quart entre mi-2005 et actuellement. Elle a passé de 33% à 42% en raison de la forte hausse du prix de l'or.

En outre, la diminution de l'or et l'accroissement des devises réduiront le risque global auquel la BNS est exposée sur ses actifs.

Les ventes se dérouleront dans le cadre de l'accord conclu en mars 2004 entre les banques centrales de l'Eurosystème, la Banque centrale de Suède et la BNS. Par ce deuxième accord sur l'or, les banques centrales signataires ont convenu de limiter leurs ventes d'or durant une période de cinq ans, à partir du 27 septembre 2004.

Le texte stipule que les cessions de tous les signataires ne doivent pas dépasser 500 tonnes par an, et que l'ensemble des ventes dans la période de cinq ans ne doit pas porter sur plus de 2500 tonnes.

Pour effectuer l'opération prévue, la BNS disposera donc d'un quota qui n'est pas utilisé par les autres instituts signataires de l'accord. Elle ajoute vouloir procéder de façon à ménager le marché en procédant à des ventes à intervalles réguliers.

ats/ft

Le communiqué de presse est ici :

http://www.snb.ch/fr/mmr/reference/pre_20070614_2/source/pre_20070614_2.fr.pdf

hum en effet ..... en tout cas ces ventes n'ont pas commencé ... ces 2 dernieres semaines, les ventes du systéme BCE sont tres faibles ( de l'ordre de 1.5 à 3 T )

et 250 T d'ici sept 2009, ça fait donc 250 T pour 2 ans et 4 mois..tout dépendra donc à quel rythme ils balancent ça sur le marché .. si toutefois ce n'est pas du gold déja prété et que cette annonce n'est qu'une belle parole destinée à faire baisser ..

ah oui au fait , marrant le timing de cette annonce, pourquoi maintenant ???

Super......

On aura nous aussi bientôt que du papier de chiotte comme billets de banque...

http://silverstockreport.com/2007/Swiss_gold_sales.html


Swiss Gold Sales are Insignificant
Silver Stock Report
by Jason Hommel, June 14, 2007


In my article last week, I spelled out various statistics on gold, as measured in tonnes.

http://www.silverstockreport.com/2007/tiny_size_of_gold_market.html

To recap:

155,000 tonnes of gold were produced in the whole world, in the entire history of mankind.
2500 tonnes of gold are produced by the world's mines each year.
5000 tonnes of gold are actually traded each year (best estimate).
500 tonnes of gold are sold each year by European Central banks under the "Central Bank Gold Agreement". (CBGA)

Recent news of Swiss gold sales of 250 tonnes over two years will fall under the existing, known CBGA. Thus, there is no material change in the status of the gold market.

Furthermore, there is no change in the fact that paper money is still being created at the same rates as yesterday.

The world's central banks continue to print up as much paper money in one year, as the total value of all the gold ever mined in all of human history. Both annual paper money creation, and all the gold in the entire world ever mined in all of human history, are both worth about $3.3 trillion, or $3,300 billion.

Swiss gold sales of 250 tonnes are worth $5 billion.

Swiss gold sales pale in size in comparison to the Bank of China's $1200 billion of reserves. China hopes to diversify 5% of that into gold, which is $60 billion.

Where is China going to get $60 billion worth of gold, or about 2871 tonnes?

This remains the unanswered question in the gold market.

China's reserves: Golden dragon or sitting duck
http://english.people.com.cn/200706/07/eng20070607_381820.html

Therefore, you can see how ridiculous and misleading the following headline is:
Swiss sales dash hopes of gold recovery
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/14/bcngold114.xml

On the contrary, Swiss sales of 250 tonnes are a non event, and will not remotely satisfy China's oft-repeated desire and need for 2871 tonnes of gold.

Not even Resource Investor reports the facts correctly (and I advertise there!):
Switzerland Central Bank to Sell 250 Tonnes of Gold
http://www.resourceinvestor.com/pebble.asp?relid=32973

RI reports that Virtual Metals claims that Portugal has 79% of its reserves in gold.

Matt Turner, commodities analyst with Virtual Metals, told RI it was significant that the bank said gold as a percentage of reserves had gotten too high, since many European countries have a higher share of gold reserves.

Greece has 80% of its reserves by value in gold, Portugal 79%, Italy 66%, Germany 63%, Netherlands 56% and France 56%. If these banks were to reduce their reserves to 30%, Germany would have to sell 1,802; Italy 1,341; France 1,273; Switzerland 394; Netherlands 311 and Portugal 235 tonnes.

However, GATA has shown that Portugal has already leased out 70% of their gold. Therefore, Portugal's gold cannot be sold twice at the same time!
http://gata.org/node/4194

GATA.ORG therefore writes a different headline regarding the Swiss gold sale:
Switzerland keeps bailing out its banks short gold
http://gata.org/node/5168

If the Swiss gold has already been leased, then this gold may be "phantom gold" sold directly to banks that are short gold, to let them off the hook for their gold leases. In other words, no gold at all may come to market from the Swiss sales.

ah oui au fait, quelle curieuse maniere ils ont les suisses de comptabiliser leurs gold réserves de la sorte? olus ç monte, moins il faut en détenir ..décidément ces b centrales m'épateront toujours !

extrait Midas:

On the Swiss gold sales:

Bill,
I had to laugh at the justification for the Swiss selling 250 more tons of gold:

"The share of gold in Switzerland's currency reserves has risen to 42 percent from 33 percent since mid-2005 due to the increase in gold prices. Jordan said the sale would return the share of gold in the currency reserves to their previous level." The idiocy of this is that the Swiss have decided to base their gold reserves on gold's price and not upon how many Swiss Francs their reserves have to back up. By that reasoning, when gold reaches $5,000 an ounce the Swiss will only have a couple of tons of gold left in their reserves. The higher the price of gold goes, the less gold you need! It is another roundabout way of saying, "Inflate, or die."

Ferdi Lipps must be rolling in his grave.

Best wishes,
Peter R.

Bill,
By the way, does this mean that if the price of gold goes down the Swiss will buy back their gold, in order to maintain their reserves level? That'll be the day.
Best wishes,
Peter

Dear Bill,
The announcement of the Swiss national bank about selling 246 tons of gold in the next 2 years is actually a good message.

Since between 2000 and 2005 the Swiss has sold 1300 tons which makes it 220 to 260 tons a year, yesterday announcement actually admits that the Swiss are going to cut down on their annual sales.

Regards
Amir D.
Israel