The French Front National’s leader Marine Le Pen has sent a letter to the Governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated their gold, or at least have tried.
In her letter, Le Pen, who would be elected president of France if elections were held today, demands a gold audit.
Mr. Christian Noyer
Governor of the Banque de France
31 rue Croix des Petits-Champs
75049 PARIS Cedex 01
Nanterre, November 24, 2014
Open letter to Mr Christian Noyer on the gold reserves of France
On behalf of the French and in my capacity as the main opposition leader, I am writing to you because it is my duty to present a petition on the gold reserves of France, in the best interests of our nation.
Even before the outbreak of the 2008 crisis, the National Front had anticipated and informed the political institutions of the future worsening of the macro-economic and geopolitical context. As part of the increasingly libertarian business model adopted by France under pressure from Brussels, economic fundamentals have not shown improvement.
All the French can see is that the austerity policies demanded by the European Union and the ECB and carried out by the government are a proven failure and have had serious consequences for our country.
The monetary institution you lead has a historic mission to be the central bank depositary of the national monetary reserves including gold reserves. According to our strategic vision and sovereignty, they belong neither to the State nor to the Banque de France, but the French people and also serve as the ultimate guarantee for the public debt and our money.
In the money cold war that is being fought between the West and BRICS countries, gold is increasingly playing an important role. According to the World Gold Council, the official reserves of gold from China, India and Russia increased significantly between 2007 and 2013.
For these reasons and in light of the rapid increase of global systemic risks, it is of the utmost importance to the future solvency of our nation to engage, by mid-2015, in a detailed audit, the results of which will be the subject of a report.
Le Pen also demands a complete inventory of the quantities of physical gold, all 2435 tonnes, as well as their quality (serial number, purity, bars ‘Good Delivery’etc.), conducted by an independent French body. This inventory will need to indicate the country in which the gold reserves are stored, she adds.
Over the period 2004-2012, about 614,6 tonnes of gold have been sold by France while at the same time the other Eurosystem central banks including the ECB pledged to limit their gold sales. According to a report by the Court of Auditors of 2012, this is extremely costly to the government and constitutes a serious violation of the national heritage, carried out without any democratic consultation.
Le Pen requests the urgent repatriation of all gold reserves from abroad.
Just like your heroic predecessors of the Bank of France in 1939 and 1940 had organized the evacuation of French gold, you will need to undertake this vast security operation of the national treasury, a patriotic act which will be recognized in time by public opinion.
I hope that, respectful of your duties as a high official in the service of the State, you will show the commitment and courage necessary to defend the general interest of our country. The challenge is considerable, it is the future of France which is at stake!
I beg you to accept, Sir, the Governor, the expression of my highest consideration.
Marine Le Pen