Mint looks for gold, freezes worker bonuses
Another reason for taking physical delivery of GOLD.
OTTAWA — The Royal Canadian Mint is withholding employee bonus pay as special auditors enter a fourth month hunting for unaccounted gold that insiders say could be worth as much as several million dollars.
The Ottawa Citizen reported Wednesday that external auditors are investigating an “unreconciled difference” between the 2008 financial accounting of the mint’s precious-metals holdings and the physical stockpile of gold, silver and palladium at its Ottawa headquarters. The mystery raises possibilities from sloppy bookkeeping to a gold heist.
Stealing gold or other metals would be a considerable feat, one that would have to evade state-of-the-art security technology.
“We’re one of the most secure facilities in Canada,” Christine Aquino, mint spokeswoman, said Thursday. “Doing business with the mint is still safe, and this review will likely give us some suggestions on how to improve our processes.”
http://www.canada.com/Business/Mint+looks+gold+freezes+worker+bonuses/1663848/story.html
Last 5 posts by MacroMan
- Thiel: Still heading toward deflationary endgame - August 4th, 2010
- Around the markets in 6 charts or less - May 6th, 2010
- Quotable - May 5th, 2010
- Quoteable - April 29th, 2010
- Pimco Warns of Deflation Risk as Central Banks to Cool Stimulus - April 21st, 2010
Commodities/Futures, Currency, General, Politics, Strategy/Allocation, Technology | MacroMan | 
June 7, 2009 11:47 am
No Comments
No comments yet.
RSS feed for comments on this post. TrackBack URI
Leave a comment
You must be logged in to post a comment.