“At least two central banks have conspired on at least one occasion to provide the Bundesbank with what both banks knew was ‘bad delivery’ gold amounting to 172 bars. The ‘bad delivery’ occured even as official gold refiners had warned that the quality of gold emanating from the US Assay Office was consistently below standard, and which both the BOE and the Fed were aware of. Instead of addressing the issue of declining gold quality and purity, the banks merely covered up the refiners’ complaint.”
