News You Can Use: Gold Now Coke Dealers' Preferred Form Of Payment

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It's not the first time crack slingers have found themselves nodding in vigorous agreement with David Einhorn (9 out of 10 polled by Dealbreaker last year thought Erin Callan was out of her element and the one we spoke with yesterday claims to have been mounting an attack on Moody's "for months now"). Surely it goes without saying it won't be the last.

In a report entitled US Gold, Going, or Completely Gone? Rob Kirby, forensic analyst at Kirby Analytics, says almost 3,000 metric tonnes of gold compounds were exported from the US in 2008."
Paul Mylchreest, of the Thunder Road Report, notes that a "very suspicious" 174 tonnes of gold compounds were exported to the Dominican Republican - "that well known hub of the world gold trade".
"Maybe these gold compounds really are used in gold paint and that artist who normally puts colourful tarpaulins around islands and buildings has painted the whole of the Dominican Republic gold," Mylchreest ponders. "I'll go and check Google Earth."
But, he reckons the transformation of the Dominican Republic into a key staging post in the cocaine trade between South America and the US, is a far more likely.
"Wouldn't it be interesting if drug smugglers have seen the writing on the wall for the paper dollar and will now only accept payment in gold bullion?"

Dealing Gold In The Dominican Republic [Telegraph via Clusterstock]

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