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To: max americana

The fed is not Obama.

The NY Fed is a gold warehouse and collects a storage fee.


21 posted on 03/28/2013 4:37:01 AM PDT by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: bert
The NY Fed is a gold warehouse and collects a storage fee.

Actually the New York Fed doesn't charge anything for storing the gold. It charges a transaction fee when gold enters or leaves the vault, but on a day to day basis it costs depositors nothing to leave it there.

I don't know there the Texas gold is but I know where it isn't: the New York Federal Reserve Bank. The bank stores gold held by other central banks or other sovereign nations or international agencies like the IMF. It does not store gold for non-governments like the University of Texas. If their gold deposits are not in Texas then they're in the vault of a commercial bank somewhere.

28 posted on 03/28/2013 6:27:17 AM PDT by DoodleDawg
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