Friday 28 November 2014

New Zealand's (non-existant) gold

Of interest when countries are trying to build up their gold reserves and to repatriate their gold.

Not for New Zealand. We're still borrowing as if there is no tomorrow (there isn't) and flogging off our assets

Look at the figures, especially for China and Russia, which have increased their holdings immensely since this article was written in 2009.

How much gold does the Reserve Bank of New Zealand have

http://goldsurvivalguide.co.nz/how-much-gold-does-the-reserve-bank-of-new-zealand-have/


How much gold does the Reserve Bank of New Zealand have

We’ve had the odd query from other New Zealanders asking “With all the recent reports of ‎various Central Banks of the world buying gold, just how much gold does the Reserve ‎Bank of New Zealand (RBNZ) actually have?”‎
So we thought we should publish the specifics.  And we’re sorry to report folks, the news isn’t so great.‎
The RBNZ website has the following table:  (We’ve highlighted the gold related part in blue.  And the full table can be found here on the RBNZ website.)

New Zealand’s International Reserves and ‎Foreign Currency Liquidity

30 Sep 2009
(Information is disclosed in NZD 000′s)
I.Official reserve assets and other foreign currency assets (approximate market value) 
A.Official reserve assets19,994,933
(1) Foreign currency reserves (in convertible foreign currencies)17,074,379
(a) Securities15,079,813
of which: issuer headquartered in reporting country but located abroad-
(b) total currency and deposits with:1,994,566
(i) other national central banks, BIS and IMF1,912,062
(ii) banks headquartered in the reporting country-
of which: located abroad-
(iii) banks headquartered outside the reporting country82,504
of which: located in the reporting country-
(2) IMF reserve position382,538
(3) SDRs1,598,884
(4) gold (including gold deposits and, if appropriate, gold swapped)-
volume in fine troy ounces-
(5) other reserve assets939,132
financial derivatives484,080
loans to non-bank non-residents-
other455,052
Last time I checked a dash didn’t mean that the number was too big to report but was ‎rather a simple alternative for the number zero.  So according to the RBNZ website, ‎New Zealand has $0 worth of gold deposits from a grand total of zero fine troy ounces of gold.‎
Further confirmation of this comes from the World Gold Council.  They periodically ‎take information compiled by the IMF to create a ranking of gold deposits of ‎countries.‎
The lazy mans research site – Wikipedia means we don’t have to look too hard for the ‎latest figures though.  The table below ranks each nation according to it’s ‎officially reported gold holdings as of November 2009.‎
We can save you some time searching and state that unfortunately New Zealand does not feature – at all.‎
World official gold holding (November 2009)[11]
RankCountry/OrganizationGold
(tonnes)
Gold’s share
of total
forex reserves (%)[11]
1United States United States8,133.577.4%
2Germany Germany3,408.369.2%
3International Monetary Fund3,005.3-
4Italy Italy2,451.866.6%
5France France2,445.170.6%
6People's Republic of China China1,054.0[12]1.9%
7Switzerland Switzerland1,040.129.1%
8Japan Japan765.22.3%
9Netherlands Netherlands612.559.6%
10Russia Russia568.44.3%
11India India557.7[6]6%
12European Central Bank501.418.8%
13Republic of China Taiwan423.63.9%
14Spain Spain416.842.5%
15Portugal Portugal382.590.2%
16Venezuela Venezuela363.935.5%
17United Kingdom United Kingdom310.318.7%
18Lebanon Lebanon286.830.0%
19Austria Austria280.050.5%
20Belgium Belgium227.542.5%
21Algeria Algeria173.63.6%
22Philippines Philippines153.912.3%
23Libya Libya143.84.5%
24Saudi Arabia Saudi Arabia143.012.4%
25Sweden Sweden135.914.2%
26Singapore Singapore127.42.2%
27Bank for International Settlements125.0-
28South Africa South Africa124.711.0%
29Turkey Turkey116.14.7%
30Greece Greece112.592.8%
31Romania Romania103.78.4%
32Poland Poland102.95.0%
33Thailand Thailand87.42.2%
34Australia Australia79.87.3%
35Kuwait Kuwait79.011.9%
36Egypt Egypt75.66.4%
37Indonesia Indonesia73.14.3%
38Kazakhstan Kazakhstan72.011.6%
39Denmark Denmark66.54.7%
40Pakistan Pakistan65.420.3%
41Argentina Argentina54.73.4%
42Finland Finland49.117.6%
43Bulgaria Bulgaria39.97.6%
44West African Economic and Monetary Union36.511.8%
45Malaysia Malaysia36.41.2%
46Slovakia Slovakia35.181.6%
47Peru Peru34.73.3%
48Brazil Brazil33.60.5%
49Bolivia Bolivia28.310.3%
50Ecuador Ecuador26.311.6%
51Ukraine Ukraine26.22.0%
52Syria Syria25.9-
53Morocco Morocco22.02.2%
54Nigeria Nigeria21.40.9%
55Belarus Belarus20.311.6%
56Sri Lanka Sri Lanka15.3[7]3.8%
57Jordan Jordan14.85.2%
58South Korea South Korea14.30.1%
59Cyprus Cyprus13.929.7%
60Czech Republic Czech Republic13.20.9%
61Netherlands Antilles Netherlands Antilles13.131.4%
62Cambodia Cambodia12.412.9%
63Qatar Qatar12.42.6%
64Serbia Serbia12.22.3%
65Laos Laos8.123.1%
66Latvia Latvia7.73.3%
67El Salvador El Salvador7.38.2%
68Economic and Monetary Community of Central Africa7.1-
69Guatemala Guatemala6.93.9%
70Colombia Colombia6.90.8%
71Republic of Macedonia Macedonia6.87.6%
72Tunisia Tunisia6.82.1%
73Lithuania Lithuania5.82.3%
74Republic of Ireland Ireland5.516.3%
75Mongolia Mongolia5.210.9%
76Bahrain Bahrain4.7-
77Mauritius Mauritius3.9[8]2.4%
78Bangladesh Bangladesh3.51.6%
79Mexico Mexico3.40.1%
80Canada Canada3.40.2%
81Slovenia Slovenia3.27.2%
82Aruba Aruba3.117.1%
83Hungary Hungary3.10.3%
84Mozambique Mozambique3.04.6%
85Kyrgyzstan Kyrgyzstan2.65.3%
86Luxembourg Luxembourg2.310.8%
87Albania Albania2.22.6%
88Hong Kong Hong Kong2.10.0%
89Iceland Iceland2.01.9%
90Tajikistan Tajikistan2.0-
91Papua New Guinea Papua New Guinea2.02.1%
92Trinidad and Tobago Trinidad and Tobago1.90.6%
93Yemen Yemen1.60.5%
94Suriname Suriname1.47.0%
95Cameroon Cameroon0.9-
96Honduras Honduras0.70.7%
97Paraguay Paraguay0.70.6%
98Dominican Republic Dominican Republic0.60.7%
99Gabon Gabon0.4-
100Republic of the Congo Republic of the Congo0.3-
101Chad Chad0.3-
102Central African Republic Central African Republic0.3-
103Uruguay Uruguay0.30.1%
104Estonia Estonia0.20.1%
105Chile Chile0.20.0%
106Malta Malta0.20.8%
107Costa Rica Costa Rica0.10.0%
It’s a bit of a worry when the Central African Republic of Chad, which the U.N. ‎reports as the 5th poorest nation on the planet, has more gold reserves than we do!‎
They may come in at number 101 on the list and only have 0.3 tonnes but that’s 0.3 ‎tonnes more than us!  (Or about $15 Million NZD in Gold reserves more than New Zealand)‎
Just like we believe the average person should have at least a small percentage of their ‎liquid net worth held in gold, we too think the RBNZ would be wise to convert some ‎of it’s foreign currency reserves into real money to ensure a store of value in a time ‎when currencies the world over are being depreciated at ever greater speed.‎

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