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.
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.