“Assets: Other: Gold Certificate Account….
Graph charts…..
https://fred.stlouisfed.org/series/WGCAL
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Last call, all aboard!
Gonna need a bigger vault........................
“At any time, Treasury may reacquire the gold certificates by demonetizing the gold.”
No thanks. My gold and silver will stay right where they are.
And it’s not really possible to demonitize gold as long as people will use it as a medium of exchange. If you will take some of my gold or silver in exchange for goods or services then it is in fact money.
L
These have been around for ages. It’s easier to move paper around (now digital) than physically moving gold from vault to vault. The actually used to do that at the fed.
In any event the methods for accounting for gold at the Fed are fairly archaic. And the price of gold on the books is around d $42. That is set by statute.
I doubt very much if that is going to change any time soon.
I had trouble following the article. Too much technical lingo for me.
The big question (actually the only question): If I have one of those gold certificates, can I go somewhere and pick up the physical gold?
If not, then this seems like just another smokescreen to me.
Side story: I’m old enough to remember going down to my local bank and handing them a $10 bill. I’d get back a roll of quarters, 40 coins that were 90% silver.
Back then, that piece of paper ($10) represented something real. Today, not so much.
Does this sound like sleight of hand?
Has the US Treasury been selling the Fort Know gold to the Federal Reserve???
I have been wondering why the National Debt has not increased this year. Could this be the reason why????
Check out the
https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny
Also note the $400 billion jump in the National Debt in the past three days.
Are the books being cooked?????
I believe that the Fed wants to see if gold certificates trade among member banks at a premium. If so, then it suggests at least a way to finance the federal debt if current measures prove inadequate.
IBTG
IBTS