We noted in 2012 that there are serious questions as to whether the Fed and other central banks really have the gold holdings which they claim.
This story is starting to go mainstream.
The Financial Times writes today (h/t Zero Hedge):
A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany’s gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.
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5 comments:
I'd bet that Ft. Knox doesn't have the gold that we think because the federal government has been using it for years to produce those two-headed coins. On one side it says $50, and on the other one ounce. Who pays what?
yes very soon.... they are manipulating the markets... all markets...
But all will fly just perfectly as long as we THINK there is gold in Ft Knox.Thats all that ever mattered anyway.The psychological advantage of US citizens believing there was gold there was adequate.
the rest of the world needs to think we got all the gold to, so our currency stays that world's reserve currency
for the past several years there has been stories about Ft. Knox being "empty". hmmmmmm. remember NEVER trust the government.
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