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.
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"?