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12 February 2011

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Norbert M. Salamon

Thanks for the clarifications Colonel.

The only Q remaining is how honest the Egyptian Generals are with respect to promises made to the Nation.

Interesting that the Egyptian Armed forces intrusion into private business under US aegis, is similar to the influense of Iran's RG in Iran's economy, to which the USA objects and sanctions.

robt willmann

More fun--and work--for forensic accountants.

The World Gold Council (WGC) tries to keep track of gold holdings by countries around the world.

http://www.gold.org/government_affairs/gold_reserves/

When Tunisian head man Ben Ali and his wife zoomed out of the country, they allegedly took 1.5 tons of Tunisia's 6.8 tons of gold reserves with them; an arrest warrant followed--

http://news.ca.msn.com/world/cbc-article.aspx?cp-documentid=27414180

Now, we can look for what is left of Egypt's gold holdings, estimated by the WGC to be 75.6 tons as of December 2010.

The sometimes humorous yet always informative financial website zerohedge.com jumped on this during the uprising--

http://www.zerohedge.com/article/httpwwwcbeorgeg-not-responding-has-egyptiancb-been-plundered

Today the site quoted a London Telegraph story about Hosni Mubarak moving his money and assets as the protests went on.

http://www.zerohedge.com/article/reason-mubaraks-power-hand-delay-plundering-gold

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/egypt/8320912/Egypt-Hosni-Mubarak-used-last-18-days-in-power-to-secure-his-fortune.html

This presents an interesting problem for Britain, if some of the assets are there. Al Jazeera news reported that Hosni's son Gamal Mubarak has a British passport, and had gone to London with his wife when things heated up.

Britain granted asylum to notorious Russian "oligarch" Boris Berezovsky, and so what position will it take with respect to assets of Hosni and Gamal Mubarak?

Note: The U.S.A. is supposed to have 8,133.5 tons of gold, the largest amount in the world, but there has not been an attempt to audit it since the Eisenhower presidency, and it was not a full audit with purity testing.

Note1: The brief statement on Egypt TV by Omar Suleiman that Mubarak was waiving the presidency is here--

http://www.youtube.com/watch?v=vDyD2-42G6k

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