# Negative Gold lease rate!!?



## projack (1 April 2008)

How is that possible?
Is that means on the 28 March 2008 banks got paid around 2.5% p/a  if they borrow gold for a year?
Can I take the lot?


----------



## projack (1 April 2008)

OK guys and girls lets do a quick calculation.

Income side
The price of gold on the 28 Mar. 2008 was around  $ 930.90/oz
Lets convert that back to metric 930.9x32.15=29928. 
Close enough for $ 30.000/kg
And that is equal $30 million/ton. 
Now the US has 8900 ton of the yellow stuff and that is worth $ 267 billion.
They also are willing to pay 2.5% if I borrow their merchandise for year. So they will pay me 6.675 billion US.
I will convert that to AUS (better to be safe than sorry) 7.3 billion AUS.


On the expenses: 
Public tender wanted from bans to rent their vault for a year.
Public tender wanted from Insurance companies for 1-year contract.

Good business does not have to be complicated.
PS. Can we do it again next year?
Any other country is interested?
The Poms are smatter they sold all the stuff for 250/oz so it wont cost them anything.


----------

