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Old 10-08-2013, 10:32 AM   #1
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Red face Karen Hudes: Bank of Hawaii storing 170,000 tons of gold

Is she crazy (start around 14:00 mark)?


Quote :
... I think gold is probably a wise purchase right now but more as insurance than investment because there is actually a great deal of gold, there is even more gold than people know about. For example, the amount of gold in the deposit in the Bank of Hawaii is 170,000 tons, this is more than the World Gold Council says is available for all the gold on the Earth. People don’t know how much gold there is, there is a lot of gold. ...
You might recall Karen from the tin foil hat thread (several posts): http://www.pmbug.com/forum/f13/tin-f...html#post21471

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Old 10-08-2013, 10:47 AM   #2
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She is not alone in these claims ..........

Jim Willie has referenced the huge gold movements that were triggered by the great wars of the last century and many have researched.

Is Karen Hudes deluded or does she try to enlighten the sheeple ?

My instinct is that this is similar to the declared oil deposits and that the truth is all but impossible to establish.

And like oil deposits, we really dont know if they need a shortage to keep prices up or are lying about whats available cos its rapidly depleting ........

They arent building oil refineries though, its all about LNG these days.
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Old 10-08-2013, 11:17 AM   #3
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Maybe that's where Yamashita's gold is stashed. Or, maybe she mistook tons for ounces, which would make the 170,000 number more realistic. A hundred and seventy thousand tons of gold is a pretty significant pile, and to be able to keep it a secret for any amount of time would require many people to be complicit. I would lean toward the non-existence of that much gold in one place, since it defies common sense. The amount of gold on the planet in refined form has been fairly well documented, with the exception of Chinese domestic production and Russian domestic production.
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Old 10-08-2013, 11:33 AM   #4
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I just dont buy it.

Sorry.
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Old 10-08-2013, 12:33 PM   #5
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Hawaii does have 170,000 tons of coconuts including her.
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Old 10-08-2013, 04:45 PM   #6
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I was also thinking she either meant ounces or maybe pounds but tons? If she did mean tons then I think she's definitely a nut job. If she misspoke then she might be a nut job.

170,000 tons = 4,958,333,333.3 troy ounces. Even at only $1,000/ozt that's $4,958,333,333,300 So easily over $5 trillion dollars, enough to cut almost 1/3 off the national debt.

Okay I figured out 5 billion troy oz (cause what's 40million ounces between friends) @ $1300/ozt = $6.5 trillion!

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Old 10-08-2013, 05:45 PM   #7
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...

rblong2us raises a good and correct point. They are not building oil refineries. One would think that if there were a hint of Bix Weir's huge N. American oilfields, well that .gov would pass along the word to the oil majors...

***

I completely agree with repliers above re secrecy. I worked in the .gov Top Secret arena decades ago for a little while. One of my takeaways was that it is almost impossible to keep secret big & sexy secrets! 170,000 tonnes of gold would count in my book as a big & sexy secret!

"Three can keep a secret if two of them are dead." - Mark Twain (?)

The only exception that I can think of was the Manhattan Project, apparently some 10,000 people knew a fair amount, yet it was kept pretty well under control.
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Old 10-08-2013, 06:35 PM   #8
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Yeah but the manhattan project was short, and they didn't let them out much, and everyone knew what would happen if that one leaked.

I agree - as someone once part of the "intelligence community" - secrets like that are more or less impossible to keep. Most of them are for CYA anyway.

The news of internet backbone taps being installed at all the major carriers broke a few years before Snowden, for example, and I made money trading the stock of the people making them in fact. The techies all talked about how cool the tech was, it was obvious what it was for, at least to me. Of course, the guy who snuck into the "secret room " at AT&T and took pix got fired...but I have the pix and his writeup, things like that are hard to "disappear" on the internet.
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Old 10-08-2013, 06:49 PM   #9
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Originally Posted by 11C1P View Post:
170,000 tons = 4,958,333,333.3 troy ounces. Even at only $1,000/ozt that's $4,958,333,333,300 So easily over $5 trillion dollars, enough to cut almost 1/3 off the national debt.
its only valued $42 an ounce -

Department of the Treasury
Financial Management Service
STATUS REPORT OF U.S. TREASURY-OWNED GOLD
August 30, 2013
Summary


Gold Bullion 258,641,878.074 Fine Troy Ounces = $10,920,429,098.79 Book Value
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Old 10-08-2013, 07:39 PM   #10
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"A married couple was cleaning out their closet after their 50th wedding anniversary. After clearing out most of the junk, they found a shoe box with $10,000 and a coconut in it. "Whats this?" the wife asked. The husband replied, "Every time I cheated on you, I put a coconut in a shoe box." "Well", said the wife. " I guess one coconut in 35 years isn't that bad. What's the money for?" The husband admitted, "Everytime the box got full, I sold the coconuts."

source: http://www.jokes4us.com/miscellaneou...onutjokes.html
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Old 10-08-2013, 09:16 PM   #11
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Originally Posted by DoChenRollingBearing View Post:
...


"Three can keep a secret if two of them are dead." - Mark Twain (?)
Ben Franklin IIRC and maybe one of the europeans like voltaire or somebody also might have said something similar.
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Old 10-08-2013, 09:26 PM   #12
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Originally Posted by rblong2us View Post:
its only valued $42 an ounce -

Department of the Treasury
Financial Management Service
STATUS REPORT OF U.S. TREASURY-OWNED GOLD
August 30, 2013
Summary


Gold Bullion 258,641,878.074 Fine Troy Ounces = $10,920,429,098.79 Book Value
That must be adjusted for bureaucracy? Just think how much money has been spent over the years guarding it, moving it around, counting it, moving it again, and everything else, so that by the time they get an oz on the market it's only gained them $40 some dollars. Hey at least they aren't losing money on it right?
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Old 10-09-2013, 06:59 AM   #13
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Originally Posted by 11C1P View Post:
That must be adjusted for bureaucracy? Just think how much money has been spent over the years guarding it, moving it around, counting it, moving it again, and everything else, so that by the time they get an oz on the market it's only gained them $40 some dollars. Hey at least they aren't losing money on it right?
But those expenses were paid in funny money, which is free.
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Old 10-09-2013, 05:26 PM   #14
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Tons and tons of Hawaiian Gold!

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Old 10-09-2013, 07:19 PM   #15
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down in the mine:

copra in Basilan

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Old 10-09-2013, 08:13 PM   #16
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Hawaii is going to need a big boat!
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Old 10-11-2013, 12:41 PM   #17
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Quote :
Dear PM Bug,

Thank you for your email and inquiry regarding gold storage/vaulting services.

We have contacted our Vault Services Department and they informed us that Bank of Hawaii does not have any gold storage/vaulting services.

Thank you again for your email and for providing us with the opportunity to be of service to you.

Sincerely,

<redacted>
Client Relations
Bank of Hawaii - Client Relations
(808) 694-1922
(877) 426-1564 (Toll-Free)

CONFIDENTIALITY NOTICE: The information contained in this email transmission and any attachment is confidential and remains the property of Bank of Hawaii until it is received by the intended recipient. If you are not the intended recipient, please note that use, further transmission or disclosure of this communication is strictly prohibited. If you have received this communication in error, please notify <postmaster> as soon as possible, and delete it from your computer without retaining any copies. Thank you for your cooperation.

~~~

From: <pmbug>
Sent: Tuesday, October 08, 2013 4:49 AM
To: <redacted>
Subject: Bank of Hawaii - General Inquiry

BANK OF HAWAII - GENERAL INQUIRY

First Name: PM
Last Name: Bug
E-mail: <redacted>
Home Phone:
Work Phone:
Mailing Address:
Preferred Contact: Email
Current Bank of Hawaii Customer? No
Inquiry type: Media inquiry regarding BOH Corp

Comment or questions: Does the Bank of Hawaii offer gold storage/vaulting services for customers? There is a recent media report that you are holding 170,000 tons of gold on deposit ( http://www.youtube.com/watch?v=4hgA9j-4dB0#t=840 ).. Thank you for any clarification you can provide.


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Old 10-11-2013, 05:29 PM   #18
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Bank of Hawaii

Originally Posted by PMBug View Post:


Hi,
Thanks for checking.
Out of interest you might like to check out:

http://www.telegraph.co.uk/finance/m...-reserves.html
for a list of the gold reserves held by the top 10 countries.

For some BoH customer comments:

http://www.yelp.co.uk/biz/bank-of-hawaii-honolulu-18

This seems like an attempt to mislead but then and again if the boys at the BoH have strong boxes they can have tons stashed away without them appearing on the BoH balances. You would not normally know thats how a bank measures its holdings and they will not going opening the strong boxes to tell you whats in them!
Personally I think there is SOME truth in the story but would want to see another independent confirmation.
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Old 10-16-2013, 12:01 PM   #19
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Originally Posted by Aubuy View Post:
Hawaii does have 170,000 tons of coconuts including her.
Sounds sooooooooooooooooooooo stupid!

170,000 tonnes? Really?

And Iran has a stealth fighter made from plastic...

Is someone keeping that much gold a secret?
What's it good for if it's just being held there?
With that kind of money anyone could buy up the USA or simply back the dollar by gold...

And where's all that gold being held? Imagine the immense installations they would need just to hold it, move it and guard it...

Oh yeah, and there's Bigfoot in the mountains. 170,000 bigfoots to be more exact, just that they're strategically hiding.

Stories for idiots
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