Giant gold mine 'hidden' under the sidewalk
A secret gold vault located under the sidewalks of London, England, stores one-fifth of the world's gold with a total value of 248 billion USD.
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A corner of the gold vault under the Bank of England. Photo: Worldpress. |
According to The Sun, the eight gold vaults beneath the Bank of England on Threadneedle Street contain 5,134 tonnes of gold, making up the majority of the 6,256 tonnes of gold safely stored underground in London.
Gold bars are popular with investors because they retain their value regardless of the fluctuations in the global economy. This storage system helps to create a benchmark price for large gold bars, making them easier to trade and ensuring London remains a key city for gold investors.
The gold bars have been locked in vaults since the 1930s and require a 3-foot-long key chain to open. Security chiefs say this old-fashioned method keeps the gold safer than electronic protection.
However, the vault still has numerous high-tech security measures in place. Customers must recite a password into a voice recognition microphone before they can approach the gold bars, which come in various shapes and sizes, with different values and ages.
The gold vaults have their own rich history. When British gold was shipped to Canada for safekeeping during World War II, one vault was converted into a mess hall before being requisitioned as a bomb shelter.
According to VNE
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