Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault

Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault

www.telegraph.co.uk

An investment fund backed by Lord Rothschild has joined the World Gold Council to put £12.5m into BullionVault, the online gold investment platform.

Tim Levene of Augmentum Capital, a fund backed by Lord Rothschild's RIT Capital Partners, said the investment was not a bet on the gold price but on "the future growth of the BullionVault platform", which stores physical gold for private clients in London, New York and Zurich. RIT currently has 9pc of its assets in physical gold.

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I'm not exactly sure what all this means, but it looks important...

Maybe it's more proof of a soon to be unveiled global gold backed currency, maybe not. After all, if you have a global fiat currency, what need would one have for gold, except for a seat at the decision making table? In this scenario, there would be nothing to compete against so there would be no need or reason to have a reputable currency. Everything, all "credit" would be created out of thin air and assume the appearance of pure whim by the rulers...

www.telegraph.co.uk
(visit the link for the full news article)

I had never heard of the World Gold Council before, but found it interesting that Rothschild seems to be investing in gold again, since they have been out of the market some years.

and this was quite remarkable.

BullionVault has about $800m (£540m) of gold under management for 20,000 customers from more than 90 countries. The average holding is around £30,000.

This makes it the world's second-largest exchange-traded fund. If the fund was a central bank, it would be sixth largest in the league table of gold holders.