Posted on 07/09/2015 9:41:27 AM PDT by HomerBohn
Impossible. The Federal Reserve does not deal with private corporations like UTIMCO when it comes to bullion. All the gold held at the New York Fed is owned by foreign countries or foreign central banks and select international agencies. None of it is owned by the U.S. government or any state or local government. Or private individuals or corporations.
So far, this is just a name and a location to be named and built. But the real subtext here is that there is a definite healthy mistrust of Federal Government and those connected with it. Reports seen on the internet suggest that HSBC doesn’t even have on hand all the gold it is obligated to guarantee.
Well if it's on the internet then it's got to be true, right? I can't speak for HSBC or Texas, but their gold is not and has never been in the vaults of the New York Fed.
As for Germany, I question again. Have they drilled through sample bars to assure they are real?
They have taken upwards of 90 tons from New York back to Frankfurt. I assume it they had any suspicions then they could drill through any of the roughly 28,000 gold bars that they have retrieved so far.
How many years has it been gone from Fort Knox? Since you know it’s gone and all.
need picture of Bear
People don't realize that apparently. We're not talking a few gold bars here. We're talking 1400 tons of gold. Tens of thousands of individual bars.
The gold is long gone. A single bar, smaller than a brick is 25 pounds. A solid gold bowling ball would weigh 224 pounds.
Say the vault actually gave public tours. Shooting or overpowering the guards and stealing it would be a near impossibility given the weight and the Ft. Knox army react force.
But lets just say they don’t do public tours for the standard bureaucracy reasons. Why then should the EVER deny a Senator or Congressman an inspection *at will*?
It’s gone, that is the obvious answer.
The Federal Reserve mistake was started by a press release from Texas Gov. Abbott. The release was in error but widely reported.
>>Somebody’s got access and has been in there in the last 50 or so years.
I was inside the Bullion Depository at Fort Knox in 1977 as a temporary laborer in support of a combined Treasury / GAO audit. We moved 47,000 bars in about 3 weeks. This was supposedly about 10% of the gold there.
The inside looks nothing like the movie Goldfinger, just for the record.
;-P
Agreed. Moving large amounts of gold is relatively labor and time intensive, and as noted above, I speak from experience.
Someone would talk.
My father was stationed at Fort Knox soon after WWII came to an end. There were no tours of the Depository then, just as there are none now. If you got too close to the perimeter someone on a loudspeaker would warn you off. There have never been public tours of the Depository.
Agreed, early reports mistakenly said the Fed but were corrected, but pray tell me what does HSBC stand for? And why are there reports that it cannot meet the physical presentations of the gold they are supposed to be holding?
As for Germany, if there aren’t conclusive reports of the results of drilling, if any, to be seen, there isn’t anything that can be drawn from it one way or the other.
The potential for findings of fake bars and a confidential promise of compensation could be just as realistic as they gave Germany real gold back. We won’t know. The fact remains the Fed has NEVER submitted to an outside audit by an impartial entity. We have only their word, and it isn’t worth spit, frankly.
Finally realized that...Thank you.
“Then that would be a matter between Texas and HSBC. “
HSBC, founded specifically as a dope bank for the opium trade. And they are still in it today laundering for the Mexican cartels. HSBC is a disgusting organization that should not even be allowed in the USA.
(In order to sell the gold they would have to open the seals, wouldn’t they?)
Having it there and owning it are two separate questions. They could have sold it but the other party is keeping there for safekeeping. Or, it could have been “leased” and we sent the gold out of the country (seals or no seals), and we still on paper own it, but we will never see it again.
I don't believe the gold is gone. It would be way too difficult to move (even small amounts) without involving many people. And could each person (guards, truck drivers, etc.) keep quiet forever? Impossible.
But you ask a GREAT question! Why can't a Congressman go inspect the site? There are no national secrets involved here. Just rooms filled with metal. Heck, I don't see any reason why there couldn't be public tours there, like with the White House.
So that's what I can't figure out. I can't see them moving the gold. Too tough a secret to keep. But yet they won't let anyone see it.
Ever wonder why they banned incandescent light bulbs?They need to tungsten to make fake gold bars.
I never thought of that. It really makes sense in a ‘conspiracy’ kind of way.
I like it.
However, that said, a great deal of information was offered under oath to Ron Paul's committee in the summer of 2011 by Counsel to the fed.
First place, in 1934, the Fed complied with FDR's order and returned its entire stock of Treasury owned Gold to the Treasury in exchange for "Gold Certificates" which represent a sufficient degree of compliance with the Federal Reserve Act of 1913 to permit the fed to manage the gold in accordance with its statutory directive.
Since 1934, the Treasury has acquired something like an additional 1400 Metric Tons +/- of gold which is not owned by the fed nor subject to Gold Certificates which are owned by the fed but which additional gold may be managed by the fed on behalf of the Treasury--total somewhere around 9200-9400 MT +/-.
Much of the Treasury gold is held in cages under the NY Federal Reserve Bank. The gold shown as owned by the Treasury at that location is in fact physically there.
However, general discussions and legal forms in circulation imply that the Treasury may have loaned some gold to bullion bank dealers which in fact may have sold some or all of what they borrowed in the market.
However the terms of the loan required that physical location of the loaned gold is in the possession of the NY Fed which holds possession as a pledge on behalf of the Treasury to secure the borrower's obligation to return the gold on termination of the lease.
Subsequent market transactions in connection with the gold have been executed subject to the terms of the lease agreement under which the seller owned the gold--i.e. the buyer bought the gold at market and paid for it even though it did not get delivery and did not have the right to get possession of the gold outside its cage in the basement of the NY Fed and was at risk that the Treasury would itself take possession of the gold back on a lease termination without even reimbursing the buyer for the price it paid.
One might speculate that the terms of sale further provided that the seller lessee of the gold had the right and obligation to obtain possession by paying the buyer some amount--probably trading market value on the day before the repossession.
I know there have never been public tours. But even a public tour would expose the gold to no realistic risk. None whatsoever.
As I said, just accepting that the “no tours” policy is just government dramatic license to show how safe it is,,,, why then should a Senator or Congressman or even the President not be able to see it all with a few days notice?
There is only one reason, and it’s obvious.
All of this is a red herring. The gold is there. The real question that should be asked, is who actually owns what is there?
The vast majority of the gold in our vaults is not owned by the Feral Government.
Originally? Hong Kong And Shanghai Banking Corporation. It's a British bank headquartered in London. The Texas gold is held at their New York City branch.
And why are there reports that it cannot meet the physical presentations of the gold they are supposed to be holding?
Because the world is filled with conspiracy theorists.
As for Germany, if there aren’t conclusive reports of the results of drilling, if any, to be seen, there isn’t anything that can be drawn from it one way or the other.
Except for the fact that Germany has repatriated thousands of bars of gold already. And if they had any suspicions then they could easily prove or disprove them.
The fact remains the Fed has NEVER submitted to an outside audit by an impartial entity. We have only their word, and it isn’t worth spit, frankly.
Audit what? The books? Every Fed branch is audited annually by an outside accounting company. Plus each Fed branch is reviewed by the GAO. Plus all of this is available online. What exactly do you mean when you say "audit them"?
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