Is the U.S. Gold Stock Really There?
The Golden Truth
02 Aprile 2010
Funny how life comes full circle. I used to explain to anyone willing to listen years ago that the 8100 tonnes of gold reported as owned by the U.S. Treasury was not there - that it had been plundered thru leasing and sale transactions designed to keep a lid on the price of gold and prop up the value of the U.S. dollar.
Well now the favorite psuedo-congnoscenti blog of the market hoi polloi, Zerohedge.com, presents this:
Forget the LBMA and the threat of physical dilution - a much more relevant question is just how much of the alleged US gold holdings of 8133.5 tonnes is actually real. Surely, the question of just how much gold is there below the HSBC building in New York's Bryant Park, and below the FRBNY has never been more relevant.
Here's a link to the entire story: LINK
Those of us who have been thoroughly studying the precious metals market over the last decade have understood for many years that the U.S. Government, via the complex web of swap and lease transactions implemented by the Fed, has depleted most, if not all, of its gold reserve. And if Zerohedge knew what it ws talking about, it would know that the bulk of the supposed stock of U.S. gold was moved into "deep storage" at West Point several years ago, safely removed from sight and audit.
If the courts would ever uphold GATA's Freedom Of Information Act request and force the Fed to release all of the related documents that the Fed refuses to release, we would be able to get to The Golden Truth of this issue. For now, it's nothing but a joke, as our policy makers - and Obama himself - make a complete mockery of Obama's promise to make Government more transparent.
"There must be some way out of here," said the joker to the thief,
"There's too much confusion, I can't get no relief.
Businessmen, they drink my wine, plowmen dig my earth,
None of them along the line know what any of it is worth."
"No reason to get excited," the thief, he kindly spoke,
"There are many here among us who feel that life is but a joke."
(Robert Allen Zimmerman aka Boy Dylan)
Source > The Golden Truth
