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

[TBQ]

Garry White
London Telegraph
June 22, 2010

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.

Investment demand for the metal has risen on concerns that sovereign debt problems could spread and the value of currencies plunge. The gold price hit a new nominal all-time high above $1,260 on Friday and analysts expect the price will continue to rise.

In return for the £12.5m investment, the World Gold Council and Augmentum will receive an equity stake in BullionVault.

Marcus Grubb, managing director of investment at the World Gold Council, said taking the BullionVault stake was part of the Council’s strategy of “increasing its portfolio of successful platforms for gold investment”. Mr Levine and Mr Grubb will join BullionVault’s board.

Full article

[TBQ]

Overheard whispers...


""the future growth of the BullionVault platform"

I fully expect a two tiered global currency system starting already five years ago. The global plutocracy is setting themselves up in the king's money and the peasants get the debased paper....except worse, it will be paperless electronic debased paper (ha ha). Nobody buys milk and eggs with gold, but larger transactions businessmen do out of the prying eyes of a full on electronic police state paperless currency regime will simply not be mentioned about in the sports pages, nor in the business section of the local proletarian's favourite newspaper (oh yeah, I forgot, the plebs don't read any more (haha)).

With the obvious future gold price appreciation, Lord Rothschild is killing two birds with one stone here. "

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"Still playing the elitist game of "keep the audience distracted". We should all be glad as for years gold and silver were kept at ridiculously low prices by these kind masters..."

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said the investment was not a bet on the gold price but on "the future growth of the BullionVault platform"

Haha, right!

That's like saying the Saudi's didn't really double their investment in gold, it was just an accounting change. LOL right!

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