However, authors such as Martín Aceña and Olaya Morales criticize Viñas's hypothetical models, which in their opinion lack the evidence to fully validate them, therefore it is impossible for the time being to affirm whether Viñas's conclusion is accurate or not.The withdrawal of the Bank of Spain's gold reserves to Moscow has been pointed out to be one of the main causes of the Spanish monetary crisis of 1937.Lacking a gold reserve to back up the Republican banknotes, and already suffering from significant devaluation, the Government of the Republic began to issue increasing quantities of banknotes with no backing in gold or silver, thereby increasing the overall paper money in circulation.Propaganda from the Nationalist side contended that such inflation had been premeditated and artificially created. A report presented to the plenary session of the ...all our energies must be focused, with full rigour, against the true enemies, against the great industrialists, against the great businessmen, against the pirates of the banking industry, who naturally, within our territory have already been for the most part On the international scene, the perception that the Republic was experiencing revolutionary anti-capitalist movement began to arise, favoured by the testimony of Spanish businessmen, such as ex-Minister of the Monarchy and active Nationalist supporter In the last months of the Civil War, a bitter division was formed among Republicans between those who advocated for uniting the Civil War with the imminent Second World War and those wanting to put an end to the conflict by negotiating with the Nationalists. Barriers to would-be raiders include three greased steel doors The British historian In any case, it was not until the following day, September 14, that the Council of the Bank of Spain (very reduced after the start of the war) was informed of the Government's decision to appropriate the gold and transfer it.Less than 24 hours after the signing of the decree, on the morning of September 14, 1936, members of the The vaults where the reserves were kept were opened, and during numerous days Government agents extracted all the gold there deposited. The nature of the measure itself and the reasons behind its adoption demand that this agreement be kept confidential. On that day Fresneda was told by the Governor that the Government had made arrangements, before the advance of the rebel troops, to take hold of all the gold of the Bank, to transport it to a place and locality where it could be safeguarded with greater security than provided by Madrid, towards which the aforementioned troops were heading with the intention of capturing, and that in effect the transport has already begun.

The Republican Government blamed the ills of the economy on the free market, and proposed as its salvation the nationalization of all prices and other changes on the economy in general. It has also been the source of strong controversy and historical debate, especially in Spain. According to Ángel Viñas reached the conclusion that the gold deposits were exhausted less than a year before the end of the Civil War, being spent entirely on payment for matériel (including the costs of the operation). [...] As a first measure, he transported them to the forts of Since I am sure that Largo Caballero, of whom I was an intimate friend, was not in such a state of hopelessness with regards to the final outcome of the war, and it is hard for me to believe that Negrín also fell victim to such discouragement, I find no other alternative but to return to the hypothesis of Soviet coercion, or to simply declare that the transfer of the gold to Russia was a completely inexplicable madness.While the majority of historians consider Minister of Finance Negrín the primary actor of the transfer (either by his own initiative or by the manipulation of the Soviets, depending on different interpretations), it is not clear who first had the idea of sending the reserves outside of Spain.

The President of the exiled Republican government, The note did not include any evidence and contradicted statements issued by prominent members of the Republican government.

Historians have questioned the legality of the gold's movement. Spain today gold rate in Euro per gram 24 karat, 22 karat, 18 karat; per ounce. The gold was placed in wooden boxes, and transported in trucks to the The gold was heavily escorted and was transported via railway, according to witnesses of the events.With the gold reserves stored hundreds of kilometres away from the fighting fronts, it seemed that the mandate of the confidential decree of September 13 had been fulfilled. Considering this (...) I asked him if the Spanish government could offer me credentials under a fictitious name (...) as a representative of the Bank of England or the Bank of America, because then (...) I could say that the gold was being transported to America for security reasons (...) Negrín did not object. – Reflect, under such precedents, what the magnitude of the work realized by the The reds think of nothing else but in robbery... and, to steal, murder is committed. Stalin refuses to return it. Gold Price in Spain Today: per oz 1,716.24 Euros. Bank of Spain’s bullion is protected by a real-life water trap Gold rate in Spain 24-hour realtime spot gold price live in Spain. When a bandit in the Netflix series La Casa de Papel dons snorkeling gear to swim through a flooded gold vault in the But what looks like a far-fetched TV plot is actually based on real-life security defenses in place at Spain’s central bank.The Madrid-based institution really does have a chamber in its vault that floods with water if bullion raiders should happen to break in.