Ukraine Central Bank Admits Gold Outflow, Calls It “Optimization Of Reserve Structure”

Jon Alternative Media, Banking, Blogosphere, Civil Unrest, Economy, Gold, Precious Metals

A week after we reported that the head of the Ukraine central bank admitted in an unofficial, informal interview that Ukraine’s gold is gone, all gone, moments ago the Central Bank revealed that, sure enough, the gold holdings in the civil war-torn country have tumbled, as a result of a decision in September to “increase the share of US dollars in a reserve basket”, or in other words, to sell the gold. Just don’t call it that: in fact, as of today we have a brand new buzzword for gold liquidations: “optimization of international reserves.”

This post was published at Zero Hedge on 11/24/2014.