LONDON, 9 September 2011 - Analysis and insight from world-leading gold ownership service BullionVault today appears in Foreign Policy, the highly respected journal of international relations.
Picking up reports that former Libyan dictator Colonel Gaddafi sold 20 tonnes of the country's gold reserves shortly before fleeing Tripoli, "The vast majority of countries opt to keep their gold in banks in the major bullion centers of the world - London, New York, and Switzerland - where there's actually high-level gold trading going on," says Foreign Policy.
"But the Qaddafi regime was unusual in that it kept its gold in Libya. And in a country of only 6 million people, facing sanctions and the loss of oil revenues, there's not much liquidity for a commodity like gold in Libya these days."
Thanking BullionVault for its input to the story, "Given the hit Qaddafi took on the gold-to-cash conversion, it would seem that it's an object lesson in why to keep gold reserves in international markets," says Foreign Policy.
You can read the full report at Foreign Policy magazine here...
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