Posted on 08/10/2017 2:34:18 PM PDT by Red Badger
23kt & 24kt gold are exactly the color you describe. I’m looking at my wedding ring right now, which is 23kt+/- (made from a Javenese money ring.
Also, if the gold is valued at $42/oz, that’s a far cry from $1280 or whatever it is today.
The Fed stole that gold.
Give the US citizens their share back that they stole it from.
Some may recall Germany demanded their gold returned.2 yrs ago I believe
I doubt it.
The FED is a fraud.
They WILL NOT even allow themselves to be audited.
I remember the bars were almost the size of a loaf of bread. I also seem to recall that standing a few feet away from the guard I was talking to were two or three guys with bulky suit coats and shades. They seemed to be looking intently at me and there were one or two more across Liberty St. which is were the Federal Reserve is located, it’s little more than a glorified alleyway, the whole vibe I got was ‘’I’d better get out of here’’. It’s defiantly not like the movies. The whole thing is not to be flashy or call attention to anything but if you were dumb enough to try something stupid you’d be dead very quickly.
If true, that’s about the size of Apple’s cash stash.
There’s no sellable gold left in Ft. Knox. I saw it in a documentary: Goldfinger.
Not true. Any foreign country with bullion on deposit with the New York Fed can audit their holdings at any time simply by making an appointment with the bank. As the article makes clear.
There certainly is no seeable gold in Ft. Knox.
And they completed their transfer last February. In all they transferred 642 tons of bullion, most of it from New York but some from Paris.
What’s your take on it?
They were old bars then. The gold market settled on what's called a good delivery bar back in the 1960's I think. Those are restricted to a minimum of 350 troy ounces and a maximum of 420 troy ounces. They look like the stereotype of what people think gold bars look like and are about 8 to 10 inches long, 2 to 3 inches wide and 1 to 2 inches thick. A bar like you describe was probably over 1000 troy ounces. Many countries have recast their bullion into good delivery bars but not all.
Libya’s gold is in Chappaqua.
On the story? Not a lot. Foreign countries conduct audits of their holdings all the time. The gold is there. And since every country stamps a seal and a serial number on every bar they own then it would be impossible to shuffle the gold around and pass the same bar off as belonging to different owners.
As for U.S. gold at the Fed? There is far more gold at West Point and at the Colorado mint than there is in New York.
I don't think that tungsten is an issue. Although it weighs almost the same as gold, it's speed of sound and electrical resistance are very different so the bars would be easy to test.
The headline is a little misleading. 6,000 tons is the nominal amount of gold bullion held by the US government, in the bullion repository at Ft. Knox, the Vault below Manhattan holds various different countries stashes. Or did. A lot of it was sent for safekeeping before, during, and after World War II and the Cold War with the Soviet communists.
Ft. Knox went from a high point of about 20,000 tons right after the war, steadily downward. In order to maintain the statutory fixed price of gold, and thus the dollar (and all the currencies pegged to the dollar) US Treasury stood ready to buy or sell gold at $35 dollars per troy ounce. By the early 1960s some were becoming skeptical, and by the late 1960s it had become a one way trade - foreign central banks were demanding gold in exchange for their dollars. France even sent a warship to pick up some of theirs. By 1968 it had become a flood, and later in August, 1971President Nixon “temporarily” closed the gold window. It had been unlawful for Americans to own monetary gold since 1933, the president’s action severed the last remaining tether to the currency in favor of what economists called a “flexible” currency.
It’s notable that average wages peaked in 1972 have have been stagnant ever since, our factories and indistrial base gutted, and high unemployment and periods of crippling inflation were the result.
Maybe gold isn’t the answer, but simply printing money out of thin air (it’s a little more complicated than that, but not much) has always led to disaster. Money needs to an objective store of value, not just a medium of exhange.
MANY of our problems today are the result of “funny money”, for without this expedient there would simply not be near enough to go around, priorities would be organized, and silly stupid dumb $hit would not be tolerated by society at large. Not a chance.
If all Germany wanted was one bar of gold then it could have been done in a day. But Germany transferred 632 tons of gold. Do the math. That's between 45,000 and 50,000 gold bars. You don't back up a U-Haul and load it up. It takes time to plan and execute the transfer that much bullion safely and securely. It isn't done over a weekend.
The fact that it took so long makes me believe that the Fed is doing some fractional reserve gold banking and lending the gold for short selling. Germany deposits the gold, the Fed rents it to A who short sells it to B so that both Germany and owner B claim ownership of the same gold bars. Do that a few times and it becomes a nightmare to unwind it when one of the owners in the chain demands delivery.
The Fed does not own the gold so they can't rent it to anyone. Since they can't prove ownership then no legitimate company or individual would accept it from the Fed, any more than any legitimate company or individual would accept stolen goods. Each and every gold bar is individually marked by the country owning it so it isn't hard at all to tell at a glance who the owner is. The scenario that you describe is flat impossible.
I don't think that tungsten is an issue. Although it weighs almost the same as gold, it's speed of sound and electrical resistance are very different so the bars would be easy to test.
Well that's a relief.
It's just rows of gold bullion bars, stacked into [roughly] aligned columns, partitioned into locked wire cages. Separate from the US gold, each of the 122(?) cages holds a portion of a foreign country's national gold reserves. No gold stash for any corporation or individual.
I clearly remember walking right up to the front cage & sticking my fingers through the [wide] wire mesh, trying to scratch the closest bar. No luck. The front stack of bars is placed tantalizingly beyond finger length. You would just crack your fingernail anyway.
The vault is on the sixth (lowest) floor below street level. It has only one entrance / exit. At the end of each business day, a guard locks the vault for the night by turning a large, spoked metal wheel – like a yacht's steering wheel – clockwise, to lower a yard-wide, eight-ton metal cylinder six inches down into the Manhattan bedrock on which the gold bars lie in quiet repose. Security cameras everywhere, recording everything. Can't pick that lock!
Long ago, the Fed moved physical gold bars from one country's cage to another, to settle month-end (or quarter-end) international debts.
With modern technology, it would be much easier to embezzle gold by hacking into the Fed's spreadsheets & falsifying transactions electronically. Those bars are heavy, awkward to move, & likely impossible to be moved stealthily from one cage to another. Electrons are much lighter & faster to move around.
Gold-plated tungsten or other physical fraud is unlikely, since each bar is engraved by the manufacturing foundry with a seal of authenticity & a serial number for tracking. Manufacturing fake gold bars would require a conspiracy of numerous workers, managers, & auditors within the production facilities.
The NY Fed is the main operating arm of the Federal Reserve system, flooding the US commercial banks with low-interest cash, or drying up the banks' cash reserves by buying or selling US Treasury bills, bonds, & notes that the Fed creates out of thin air with computer entries.
The Fed has a Plunge Protection Team tasked with stabilizing the markets – particularly the gold market – by placing buy & sell orders to counter sharp market swings. Plenty of ways to destroy the already corrupt fiat currency & expand the uncollateralized – and mathematically impossible to repay – national debt without having to crush your toes schlepping 27-pound gold bars from one locker to another.
The big NY banks have created an outrageous multi- $Trillion gold-derivates market (options on gold prices for future delivery) that massively eclipses the amount of world-wide physical gold reserves. Let's have a full public accounting of this financial time bomb.
Audit the entire FedGov / US Treasury accounting systems not just the Federal Reserve!
Post online a full, accurate, forensic accounting report listing all payments to & from foreign governments, starting with the insane shipment of pallets of billions in cash to our enemies in Iran.
There's an FR thread somewhere listing a series of "structured" payments to Iran in multiple wire transactions of $99,999,999 each, to avoid triggering a report at the $100million limit.
Issue a full, accurate report explaining our actual national debt, including "off-budget" amounts. No one really knows whether it's 20, 50, or $100Trillion.
Solve the endemic campaign finance scandals permanently by requiring all candidates for national political office to report all contributions from all donors without exception. Post the numbers online every week.
You beat me to it ! Geraldo has got to be behind this, and he’ll get an hour-long special to prove it.
After all Jerry Rivers is a U of A Wild Cat Grad, from Tucson Az.
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