Archive for the ‘Research Comex Vault’ Category

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Millions Under WTC

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Attacks Buried Millions Under WTC
"Underneath the crushed concrete and twisted steel girders of the World Trade Center lie about $200 million in gold and silver owned by a Canadian bank.Officials at the Toronto-based Bank of Nova Scotia have no idea when they will be able to recover the gold and silver but aren't worried that someone might try to steal it."All of ground zero is extremely secure,'' said bank spokeswoman Diane Flanagan.The gold and silver was in a vault at 4 World Trade Center, which was reduced to rubble just like the twin towers that collapsed after the Sept. 11 attack. It was not immediately clear in what form the precious metals were in, such as ingots or coins."We have every reason to believe it is safe and intact,'' Flanagan said. "And we have every reason to believe it is fully recoverable.''Besides the legions of police officers who prevent onlookers from approaching the trade center site, the bank has hired its own security contingent to protect the assets.Flanagan wouldn't say how many security officers are on duty at the site for the bank, or what precautions have been put in place. The eight vault employees who kept watch over the gold and silver before the attacks escaped unharmed.The gold and silver is insured and is part of a larger cache controlled by the bank's bullion and precious metals subsidiary, Scotia Mocatta Depository Corp." -
Journal Sentinel/AP (10/06/01)
Millions in gold and silver recovered from WTC -
CTV (10/31/01)
Cache of gold found at WTC; Two truckloads retrieved through a tunnel in rubble
"Workers at Ground Zero unearthed last night a buried treasure of gold, hidden for weeks under the ruins of the World Trade Center.This is not a shocker, as it was rumored that as much as $160 Billion in bullion was stored under the Trade Center." -
NY Daily News (10/31/01) [Reprinted at: sierratimes.com; rense.com]
Crushed towers give up cache of gold ingots
"RECOVERY workers at Ground Zero have discovered hundreds of gold ingots, part of a billion dollar cache which was lost when the twin towers fell.The collapsed buildings contained a number of vaults and strongrooms, but the police were not saying who owned the gold.The Comex metals trading division of the New York Mercantile Exchange kept 3,800 gold bars — weighing 12 tonnes and worth more than $100 million (£70 million) — in vaults in the building’s basement. Comex also held almost 800,000 ounces of gold there on behalf of others with a value of about $220 million. It also held more than 102 million ounces of silver, worth $430 million.The Bank of Nova Scotia, which kept gold in the Comex vault, reported $200 million of gold lost in the wreckage. Comex also held precious metals for Chase Manhattan Bank, the Bank of New York and Hong Kong and Shanghai Banking." -
Times Online (11/01/01) [Archived at: 911research.wtc7.net]
Thanksgiving at Ground Zero
"Unknown to most people at the time, $650 million in gold and silver was being kept in a special vault four floors beneath Four World Trade Center. The gold and silver were recently recovered." -
Delta Farm Press (11/19/01)
(See also:
February 26, 1993 - Police first believed '93 WTC attack was an attempted gold robbery; October 30, 2001 - Recovery workers discover hundreds of gold bars in a delivery tunnel under WTC 5 that was being transported by a 10-wheel truck)

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Cache of Gold Found Under WTC Building 4 & 5

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Cache of Gold Found Under WTC Two truckloads

By GREG GITTRICH, THOMAS ZAMBITO and LEO STANDORA
Daily News Staff Writers URL Link to Complete Story Here

Workers at Ground Zero unearthed last night a buried treasure of gold, hidden for weeks under the ruins of the World Trade Center.

As a small army of federal agents with shotguns and automatic rifles stood guard, city cops and firefighters packed two Brink's armored trucks with the lode, sources said.

This is not a shocker, as it was rumored that as much as $160 Billion in bullion was stored under the Trade Center. Let's read on.

The sources said the gold was found in a delivery tunnel under 5 World Trade Center.

They are taking gold out of there right now," one source said last night. "They've brought in extra cops."

It wasn't immediately clear how much gold was recovered last night - or exactly how much was buried under the complex after the Sept. 11 attacks.

The Toronto-based Bank of Nova Scotia has said its vault under 4 World Trade Center alone held more than $200 million in gold and silver. Bank spokeswoman Pam Agnew didn't immediately know if any of that gold was found last night.

Other companies are believed to have lost untold gold and valuables in the disaster.

For the last couple of days, construction workers - directed by the feds - had been clearing a delivery tunnel that runs under the complex.

Officials finally got to the gold through that tunnel yesterday, after workers hauled out a 10-wheel truck, several crushed cars and mounds of debris.

No bodies were recovered during the operation.

As workers inched closer to the gold yesterday, authorities began restricting access to the north side of Ground Zero and FBI and Secret Service agents joined cops and firefighters at the site.

"If I tried to go down there, they would have shot me," said a construction worker shooed away from the tunnel.

A handful of heavy-machinery operators and other workers, under the watchful eyes of more than 100 armed officers, built and graded a ramp into the delivery tunnel.

A small bulldozer knocked down a wall inside the tunnel, and a Brink's armored truck drove in just before sunset.

It came out about 7 p.m. with the first load of gold, sources said. A second truck entered the tunnel a short time later and also was loaded with gold before leaving.

A handful of construction workers were held over from the day shift, which ends at 7 p.m., to help.

"They sent most of us on our merry way," said one worker.

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Buried WTC gold returns to futures trade

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A fortune in gold trapped for seven weeks in the ruins of the World Trade Center officially returned to the global bullion trade Friday, but dealers had already closed the book on the tale of tragedy and buried treasure.

"You could in theory say that if things had gone much worse since September 11 and there had been rampant demand or something like that, that it might have been a story that affected the price. But at this point, I don't think it really was," said a metals specialist at a large commodity brokerage.

The $230 million in precious metals has been moved from the basement vaults of ScotiaMocatta Depository at 4 WTC, where it was stored on behalf of the New York Mercantile Exchange when the September 11 attacks brought down the twin towers. All warehouse staff got out safely.

In a joint statement Friday, NYBOT and ScotiaMocatta, the metals trading division of Canada's Bank of Nova Scotia, said the metals had been relocated and were again available to guaranty delivery of futures contracts exchange traded at the COMEX metals division of the NYMEX.

"All of the silver, gold, platinum, and palladium stored in its vaults at 4 World Trade Center have been successfully relocated by an Exchange-approved carrier to a newly Exchange-licensed Brink's Inc depository in Brooklyn," they said.

Spurred by authorities who wanted to demolish the building, by the potential for crime, and by whatever has always driven men to hunt for gold, emergency crews dug through the rubble and got a first glimpse of the gleaming booty on Oct 30.

Guarded by a small army of heavily armed federal agents, city policemen and firefighters began the massive task of moving about 12 tonnes of gold and 30 million ounces of silver. The hoard was estimated to be worth at least $230 million.

There were about 3,800 100-Troy-ounce registered gold bars in the underground COMEX warehouse. While gold is very dense, the task of loading the indestructible yellow metal onto armoured Brinks trucks was not nearly as cumbersome as moving the silver.

Experts said it would take some 50 tractor trailers to transport 30,000 1,000-ounce silver bars.

On top of that, it is believed that other treasures were kept in the vaults, including additional precious metals, jewels and securities. But there has been no information on whether these valuables were there or recovered.

ScotiaMocatta has applied to establish a new exchange-licensed depository in New York for silver, gold, platinum and palladium. Upon approval, the metal being held in ScotiaMocatta's custodial account at Brinks will be relocated to this facility, they said.

The NYMEX has another warehouse in Manhattan, operated by HSBC Bank USA.

Despite initial concern among precious metals dealers, the temporary lack of access to the metal hardly caused a ripple in the markets. The buried gold amounted to about 2 per cent of the 600-tonne-a-day global bullion market.

The metal was insured and supply was available from facilities at refiners elsewhere in the United States, though some may have been remelted into the 100-ounce bars of 99.5 per cent pure gold to meet COMEX delivery specifications.

The exchange said it plans to rescind its emergency rules which allowed an individual or firm taking delivery of metal under the terms of a futures contract to reject a warrant -- a document giving title -- for metal on deposit at the buried ScotiaMocatta vault.

http://www.rediff.com/money/2001/nov/17wtc.htm

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Gold and silver buried in WTC

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By Simon English

Last Updated: 9:22pm BST 18/09/2001

GOLD and silver worth $240m (£170m) is buried under the debris that is all that remains of the World Trade Centre in Manhattan.

Rescue workers searching through the rubble will at some point come across 30m ounces of silver and almost 380,000 ounces of gold, though in what condition is not clear. The silver, worth around $128m, represents a third of the stockpile of Comex, the futures exchange.

The treasure was stored by the Scotia Mocatta Depository Corporation on behalf of investors that trade futures contracts in precious metals on the New York Mercantile Exchange (NYME). The value of each metal, seen as "safe havens" in times of crisis, has risen since the terrorist attack.

Gold jumped almost 7pc on Monday to an 18-month high of $290.90 an ounce but fell back yesterday to $287.50. Silver closed in London yesterday at $4.31 an ounce, up from $4.27. The metal had been stored in the WTC for years and almost never changed hands.

Investors buying and selling gold and silver usually just exchange the warrants that indicate ownership. Only 1pc of gold trades involves a physical transfer, said the NYME. Analysts say that the amount under the building is not significant enough to cause a shortage in either gold or silver.

Graham Birch, head of mining at Merrill Lynch Investment Managers, said investors have been moving into his £82m gold equity unit trust. "Gold is also something of a dollar hedge and the lower interest rates are the more attractive, it seems," he said.

Trading in the fund was closed last week, however. The NYME is based at the World Financial Centre, near the ruins of the towers.

It re-opened for business on Monday after working from temporary headquarters last week. An internet trading system was devised to allow at least some dealing. The exchange was the subject of a bomb threat yesterday and evacuated the building as a "precautionary measure", halting trading briefly.

It is an old-style open outcry trading floor that was left intact by the attacks.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2001/09/19/cngold19.xml

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A Treasure in Silver and Gold 2

A Treasure in Silver and Gold

RICH GARLOCK: The vault was huge — two levels, 3,000 square feet each. When they opened the door, I realized why it was so big: there was a lot of gold and silver. The silver bars were like large loaves of bread, only they weighed about 70 pounds. The gold was smaller, but also very heavy, about 28 pounds each. It was around Halloween and I joked that I was going to come dressed as a Brinks guard. The team did a test run with the Brinks truck to make sure that it had the clearance, driving it up and then back out. The next morning the New York Post reported the vault had been emptied. In fact, it took a week to remove. The police said, "Hey, we couldn't have better publicity."

 

http://www.pbs.org/americarebuilds/engineering/engineering_property_02.html

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