The Fed Has 6,200 Tons of Gold in a Manhattan Basement—Or Does It?

www.wsj.com ^ | Aug. 10, 2017 12:30 p.m. ET | By Katy Burne

[SamAdams76]

The Federal Reserve in Manhattan is one of my clients so I visit there every now and then. It’s a fairly large operation. Security is very high and there are soldiers with machine guns everywhere. I’m sure that’s just for intimidation. I do not doubt for a minute that the real security guards are out of sight and watching very closely.

[cgbg]

How would a depraved criminal handle that gold?

(1) Use it as collateral for loans over and over again.
(2) Steal it and sell it in small pieces plus number one.

But, that is only something depraved criminals would do--not to worry. :-)

[jmacusa]

I worked in that part of NYC in the early ‘80s with a construction union renovating an old office building on Maiden Lane for the law firm of Cadwalledar , Wickersham and Taft. That’s such a cramped and narrow part of the city, besides the security at the Federal Reserve if someone was dumb enough to try and pull off a robbery they’d never get out of the area.