You are far more trusting than I am is about all I can say. Until 2013 Texas’ gold was held by the Federal Reserve and they switched to HSBC. They have since established the Texas Gold Repository (or whatever the name is) to physically move whatever gold there is to Texas.
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.
As for Germany, I question again. Have they drilled through sample bars to assure they are real?
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.
The Federal Reserve mistake was started by a press release from Texas Gov. Abbott. The release was in error but widely reported.