After a week ago we learned that the central bank of Tunisia had parted with 23% of its gold stash courtesy of now deposed president who fled the country with a 1.5 ton shipment of gold, it appears that Egypt is preparing for a comparable spike in revolutionary activity. Only unlike the now former Tunisian president whose gold sequestering actions were retroactive and thus, quite lucky to succeed, Egypt has taken proactive measures. According to Egypt News, the country's airport has intercepted 59 shipments of gold directed for the Netherlands "worth tens of millions." The gold, as well as an indeterminate amount of foreign currencies, was hidden in pillow cases: uh, cotton may not show up on X-Rays, but gold sure does. We eagerly await to learn how big the decline in the country's official holdings 75.6 tonnes of gold will be after this most recent episode confirming that gold is precisely money. And all this happening despite gold's complete and thorough inedibility. [emphasis added]
Reminds me of the story of EPJ premier Robert Wenzel and his NYC cabbie, which now makes me wonder if Bob's cabbie happened to be an Egyptian-- the irony would be too much!
It also makes you wonder where the individual gold grams inside those gold stashes that were almost secreted out of the country have been since they were mined out of the earth. How many of those ounces were once in the belongings of ancient pharoahs attempting to flee the civil unrest and rioting they had caused in the Old Kingdom?