posted on Jun, 8 2011 @ 10:28 AM
the Fed doesn't need the u.s. gold to conduct the 'gold swaps' that are (or can be) used to suppress the gold price.
The Federal Reserve Bank of New York maintains a vault that lies 80 feet below street level and 50 feet below sea level, resting on Manhattan
bedrock. By 1927, the vault contained ten percent of the world's official gold reserves. Currently, it is reputedly the largest gold repository in
the world (though this cannot be confirmed as Swiss banks do not report their gold stocks) and holds approximately 7,000 metric tons of gold bullion
($335 billion as of April 2011), more than Fort Knox. The gold is owned by many foreign nations, central banks and international organizations. The
Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it protects at no charge as a gesture of goodwill to
so take that with a big grain of salt. i don't think for a moment that the Fed does ANYTHING out of goodwill.
the Fed, in conjunction with central banks for any nation holding gold in the Fed vaults, can 'swap' gold between members, which looks like gold
sales, which they're not really, to suppress the gold price.
but they don't own any gold. heck, the IMF probably doesn't actually 'own' an ounce of gold either. i think there is counterparty ownership on
ALL of the IMF gold.