Federal Reserve Admits: We Have No Gold

reply to post by emberscott


Yay! Maybe I'm worth a few extra $100,000 to the FED now! lol

Sad but true, we are owned by a entity we created. Now where have I seen that plot before...?
The monetary system here is like the serpent eating itself, the uroboros I believe its called....

A little tidbit out there for everyone who thinks the FED is nuts and the US government has turned on us long ago: The US, for the past 30 years, has been engaged in massive stockpiling of mineral, metal and chemical base products, such as copper, tungsten, zinc, iron, quartz, various natural gases (not "natural gas" that we use), limestone, etc... while dumping its gold and precious gems reserves. Why? Well, I'll let you figure that out.... (Hint Russia has been doing the same thing with our help. Again why?)

Perhaps Gold is going to tank hard like diamonds did back in the 1800's... me has said for four years this will happen, and by late 2012 I really believe it will, though it has no relation to the end of the world BS.

reply to post by hawkiye

If you did a little research, you would have looked up the definition of gold certificates.

Gold Certificate

A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a US paper currency (1882–1933) and a current meaning as a way to invest in gold.

Gold certificates represent the ownership of gold. Instead of storing actual bars in your house, you can have the government hold onto them in a vault. When you get a gold certificate, it means 'you do own gold' held by the US Treasury.

Does the Federal Reserve have actual bars in their possession? No they don't.

Does the Federal Reserve own bars in which the treasury is holding? Yes they do.

Our question should now be, "Does the US Treasury still have the gold bars, which back up the gold certificates they gave the Federal Reserve?"

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.

from wiki:

*****

The Federal Reserve Bank of New York maintains a vault that lies 80 feet below street level and 50 feet below sea level,[7] resting on Manhattan bedrock. By 1927, the vault contained ten percent of the world's official gold reserves.[6] 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 other nations.

*****


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.

from an outside source, cited below:

After 1934, Alvarez explains that the Fed handed its gold over to the Treasury in exchange for gold certificates. When pressed further, Alvarez noted that the gold certificates do not represent any interest whatsoever in the gold itself. He explained the gold certificate listings on the Fed balance sheet, not as a claim to gold, but at most a claim to dollars from the Treasury. See the quotes here (and watch the videos at the bottom of the post):

Scott Alvarez: “The Federal Reserve does not own any gold at all… we have not owned gold since 1934, um, so we have not engaged in any gold swap. Before 1934 the Federal Reserve did, we did own gold. We turned that over by law to the Treasury and received in return for that gold certificates.”

Ron Paul: “…You have the securities for essentially all the gold?”

Scott Alvarez: “No. No we have no interest in the gold that is owned by the Treasury. We have simply an accounting document that is called gold certificates that represents the value at a statutory rate that we gave to the Treasury in 1934″

and no, not all gold certificates are the same . ..

So what exactly are the gold certificates the Fed holds? For one, the Fed’s gold certificates are unlike previous gold certificate issues, and are not publicly trade-able. They are also not direct claims to gold, but rather reflect claims only to US issued currency or coin held by the Treasury.

source:

goldsilver.com...

the info on this stuff is out there, very much available

what the Fed does, i don't care for. i'm not a Fed guy at all. but this issue of the Fed not having any gold is really a non-issue. they don't own any gold . . . the bad news is they don't NEED to own it to heavily manipulate it (in conjunction with central banks)

The federal reserve banking system is supposed to be based on gold, money should not be created out of tin air, it is illigal.

take a look at this well done presentation...

An item only has worth when people decide that its valuable.

In my opinion. eff the paper monopoly money, eff the gold. Food/water, guns/ammo will be the new currency soon enough.

They might feel high and mighty with their immense stock holdings, gold stored away, and their Rolls Royces, but those things will all be meaningless when the house of cards comes crashing down.

You cant feed a family with gold bars. I suppose you can use paper money for wall paper

reply to post by Section31

If you did a little research, you would have looked up the definition of gold certificates...
Gold certificates represent the ownership of gold.

If you had read just a little farther on the first page you would have seen that I already mentioned this. However I am glad you brought it up again later in the thread.

reply to post by SecretGoldfish



The fed of course are liars they have the gold listed on thier balance sheets, to say they are doing that just for accounting is ridiculous! If they have no interest in the gold then why is it listed as assets? They realize the Ignorance of the American people and know they do not understand thier ruse. The Fed does not get dollars from the treasury the treasury gets thier dollars from the Fed at interest.

I remember two years ago in the newspaper it showed guards hauling a # load of gold to who knows where. I knew it was fake. Proves how honest and trustworthy our government is. When is # going to hit the fan?

Federal Reserve Admits: We Have No Gold

This is not news.

If you had asked anyone educated outside of the US,

They could have told you this 60+ years ago.

If only you could listen.

It's clearly the only reason that the Canadian Dollar and the Peso aren't on board to create a North American currency, who would want to get their anchor caught on a sinking ship? Not me.

I spoke with a grunt who worked at Fort Knox in the 60's. He told me they had nearly no gold in there way back when.
He also claimed that they stored mostly heroin and other drugs in there.

reply to post by Mikemp44


I wholeheartedly agree with you.
I do not understand alot about markets and such, but I do understand history and cycles.
Gold and silver will tank hard, and all the fools who bought on the high end are gonna lose their shirts and pants most probably.
I look at it like buying lead for $100. a Lb. only a fool would do that but...
We shall see, but I really believe you and I are right.

reply to post by hawkiye


Well of course not. We aren't on the gold standard. It doesn't matter.

When our military grabbed Ferdinand Marcos from the Philippines didn't we Liberate an entire C-141 loaded with Gold from there?

Where did it go?

Will we just do the same thing to Saudi Arabia who has our Gold now? ....just saying....it's just rocks being moved around. Split the booty with China and they would likely carry it back here for us.

Originally posted by Scytherius
reply to post by hawkiye

 

Well of course not. We aren't on the gold standard. It doesn't matter.

It does matter because the gold the treasury supposedly holds is the American peoples confiscated in the 30's and supposedly being held in trust for them. And also a lot of sheep still believe our money is supposed to be backed by gold and this revelation will wake more of them up.

Originally posted by hawkiye
The fed of course are liars they have the gold listed on thier balance sheets, to say they are doing that just for accounting is ridiculous! If they have no interest in the gold then why is it listed as assets? They realize the Ignorance of the American people and know they do not understand thier ruse. The Fed does not get dollars from the treasury the treasury gets thier dollars from the Fed at interest.

edit on 8-6-2011 by hawkiye because: (no reason given)

Human centipede symmetry:

"This human fecal matter is good to eat; look, it's serving the same purpose as food! Who wouldn't want this?"

Originally posted by boondock-saint
in all seriousness, if this is true
it is the beginning of the end.
nobody will lend anymore.
there will be a mass crash
on wall street and a mad dash
run on the banks to get their paper
out of ignorance.

good bye Fed

hello NWO

oh wait a min,
whose $144B worth of gold bricks
was stolen from the Fed Res vaults
under the WTC ????

me thinks they looted the Fed's gold
before declaring it bankrupt.

edit on 6/7/2011 by boondock-saint because: (no reason given)

October stock market crash my friend.

The more I see this past week as far as the economic issues and now this, the more that member in the Predictions forum seems correct.

Originally posted by brindle
Obama is currently in negotations with frito lay.Starting next week,the u.s. dollar will be backed by cheetos.In addition,they will be the crunchy kind.

You know what... that would certainly be an upgrade from what it's currently worth! : )

People are reading this wrong...

They are saying they have no physical gold, but the notes to show the reserves.

This is the same as my not actually having a physical part of a Chrysler plant, but instead having a stock certificate folks.

And..it's been this way since 1934! So hardly anything new....

In addition, we've been off the gold standard backing our money for decades. Money is backed by faith in the particular nation's economy. As the number 1 national economy, it's why the dollar is used as a benchmark.

Granted, I believe recently the EU (collectively) just barely edged past us, but as a singular nation, we're still number 1 by a longshot.

Originally posted by boondock-saint
in all seriousness, if this is true
it is the beginning of the end.
nobody will lend anymore.
there will be a mass crash
on wall street and a mad dash
run on the banks to get their paper
out of ignorance.

good bye Fed

hello NWO

oh wait a min,
whose $144B worth of gold bricks
was stolen from the Fed Res vaults
under the WTC ????

me thinks they looted the Fed's gold
before declaring it bankrupt.

edit on 6/7/2011 by boondock-saint because: (no reason given)

I bet if you looked underneath you in some places, you could find a gold mine! We don't need the NWO or the Fed