Comments

  • Timbuk3Timbuk3 Posts: 9,784 ✭✭✭✭✭

    Amazing story !!! :)

    Timbuk3
  • blitzdudeblitzdude Posts: 1,451 ✭✭✭✭✭

    If you actually believe the fed has that much gold sitting in a NY vault I have some MS 1907 High Relief $20 Saints I'd love to sell you. Or perhaps you'd be interested in some beachfront Arizona property? lol

  • BLUEJAYWAYBLUEJAYWAY Posts: 3,548 ✭✭✭✭

    Wonder how much this costs US taxpayers to maintain and secure the gold as the owners of the gold are not charged a storage fee (as is stated in the article).

    Successful transactions:Tookybandit
  • rickoricko Posts: 64,503 ✭✭✭✭✭

    That is a lot of gold....and, according to article, being the 'largest' stockpile of gold, it exceeds that of Fort Knox. I assume this depository is used by the individual gold owners as confirmed collateral for loans. If all the world's debt were compiled and compared to assets, the world would need to start over, financially... since there is not enough to settle the debts. Cheers, RickO

  • jmski52jmski52 Posts: 19,266 ✭✭✭✭✭
    edited December 24, 2018 10:31AM

    Wonder how much this costs US taxpayers to maintain and secure the gold as the owners of the gold are not charged a storage fee (as is stated in the article).

    Good question. We are continually told that the Fed isn't a US Govt agency or institution, but a privately-owned entity. So, which is it? I'm not sure that the type of entity has been made public knowledge, but it would be interesting to know the precise relationship to the US Govt and exactly who owns the Fed. That would be a great piece of information.

    If the Fed is truly a private institution, then the taxpayers wouldn't be on the hook for any storage fees. And, as the article notes, there are transaction fees for the account holders and that's probably a substantial number for 6,350 tons of gold.

    Interestingly, the audio mentions 6,194 tons, but the article says 6,350 tons. That means that at least 156 tons have been moved in some recent timeframe. Figure the transaction & handling fees on that.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisineMsMorrisine Posts: 22,602 ✭✭✭✭✭

    I actually believe

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TwoSides2aCoinTwoSides2aCoin Posts: 40,324 ✭✭✭✭✭

    No one has answered the question.

  • OuthaulOuthaul Posts: 6,363 ✭✭✭✭✭

    Howard Walowitz's mother?

    Never take a front row seat at a Bris.
    Proud recipient and founding member of the "YOU SUCK" Club since 8/31/04 - USAF Retired: 1974 - 1994

  • MsMorrisineMsMorrisine Posts: 22,602 ✭✭✭✭✭
    edited December 26, 2018 8:35AM

    2 sperm whales

    A whole lot of Omaha Steaks

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TwoSides2aCoinTwoSides2aCoin Posts: 40,324 ✭✭✭✭✭

    You guys are funny.

  • HemisphericalHemispherical Posts: 3,459 ✭✭✭✭✭

    @TwoSides2aCoin said:
    No one has answered the question.

    The steel door.

  • TwoSides2aCoinTwoSides2aCoin Posts: 40,324 ✭✭✭✭✭

    I'm glad there is one here who has "reading comprehension" skills. :).

  • jmski52jmski52 Posts: 19,266 ✭✭✭✭✭

    :)

    what you expect from a bunch of precious metals geeks?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 40,324 ✭✭✭✭✭

    @jmski52 said:
    :)

    what you expect from a bunch of precious metals geeks?

    Iron ore :cold_sweat:

  • TiborTibor Posts: 1,274 ✭✭✭✭

    My doctors finger when it is time to check my prostate. :o

  • BAJJERFANBAJJERFAN Posts: 29,150 ✭✭✭✭✭

    @ricko said:
    That is a lot of gold....and, according to article, being the 'largest' stockpile of gold, it exceeds that of Fort Knox. I assume this depository is used by the individual gold owners as confirmed collateral for loans. If all the world's debt were compiled and compared to assets, the world would need to start over, financially... since there is not enough to settle the debts. Cheers, RickO

    Just re-value the gold, eh?

  • BAJJERFANBAJJERFAN Posts: 29,150 ✭✭✭✭✭

    @blitzdude said:
    If you actually believe the fed has that much gold sitting in a NY vault I have some MS 1907 High Relief $20 Saints I'd love to sell you. Or perhaps you'd be interested in some beachfront Arizona property? lol

    Your evidence/proof that they don't?

  • jmski52jmski52 Posts: 19,266 ✭✭✭✭✭

    Gold doesn't need to be revalued - revalue the debt and let the free market do the rest.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • VanHalenVanHalen Posts: 3,128 ✭✭✭✭

    @jmski52 said:
    Gold doesn't need to be revalued - revalue the debt and let the free market do the rest.

    In due time my friend. In due time.

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