Something significant is left out of this piece.
US gold holdings. There is substantial reason to consider that the actual amount of US gold reserves is much less than claimed. If the dollar crashes and that is proven to be the case, we are in the soup.
Texas moved it’s gold reserve from the NY banks.
It has a gold repository in Texas now.
Actually I stated that wron.
Texas sold it’s gold reserves in NY Banks.
And they repurchased gold from the proceeds for storage in the Texas Gold repository.
It was not the same gold held in NY.
“There is substantial reason to consider that the actual amount of US gold reserves is much less than claimed.”
Agreed. One big reason for my doubts about our gold reserves is the fact that there has not been a physical inventory of US gold reserves in decades and with all the endemic shenanigans, corruption, theft and graft in our government and the fed, how does anybody know how much is actually there without a physical inventory. For all we know the government stole it and divided it up among themselves and Fort Knox is empty.