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
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
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. "Everyone is equal, some are more equal than others".
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
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
@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
@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
Comments
Amazing story !!!
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
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
We know it’s safe because Bruce Willis and Sam Jackson save it in Die Hard 3.
My Ebay Store
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).
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
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.
I knew it would happen.
I actually believe
No one has answered the question.
Howard Walowitz's mother?
2 sperm whales
A whole lot of Omaha Steaks
You guys are funny.
The steel door.
I'm glad there is one here who has "reading comprehension" skills.
.
what you expect from a bunch of precious metals geeks?
I knew it would happen.
Iron ore
My doctors finger when it is time to check my prostate.
Just re-value the gold, eh?
Your evidence/proof that they don't?
Gold doesn't need to be revalued - revalue the debt and let the free market do the rest.
I knew it would happen.
In due time my friend. In due time.