:: Black Market Gold News ::

:: Sunday, January 4, 2003 ::

Saddam's Bullion and Fiat-ones-and-zeros.

Between mm-dd-yyyy-1 and mm-dd-yyyy-2 Saddam Hussein and his agents transfered an estimaed 35,000,000,000-British-Pound-fiat-currency-units worth of** fiat currrency units and gold bullion bars to and through the "the Queen's banker" Coutts and Co and to and through 17 other London banks, say British agents.

The fiat currrency units and gold bullion bars were transfered from the computers and vault (respectively)* of the bank called Central Bank of Iraq, to various computers and vaults of various banks situated about the landmass called Middle East (step 1). Then, a second transfer was made by agents - knowingly or unknowingly working on behalf of Saddam and his agents - to Coutts and Co and to the 17 other London banks (step 2).

Later, a transfer was made by agents - knowingly or unknowingly working on behalf of the agents of the agents of Saddam and his agents - to the computers and vaults of banks situated about the landmasses known as Switzerland, Germany, Japan and Bulgaria (step 3). An agent for Coutts said: "We have not been formally advised by the British agents."

"However, in the event of any investigation into the transactions through our bank, we would, of course, fully co-operate with the British agents."

* Ed. Note: - With respect to the gold bullion transfers (steps -1, -2, and -3), it is most likely that physical gold was NOT flown/shipped/trucked from the indicated various vaults of the various banks. Rather, a book-keeping entry between the various banks - indicated in step-2 and step-3 - along with the associated internal move of the bullion from cage-x to cage-y, was most likely made. A physical transfer of gold between Central Bank of Iraq and the London banks may or may not have occured (step-1)... maybe step-1 was an exchange of fiat currency units for gold bullion.

** Ed. Note: - Don't know yet the fiat/bullion percentages.


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