Federal Reserve Bank in NYC has 7000 tons of gold
botanist
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If the amount of gold stored there is accurate, and if my multiplication is correct, the current spot value is about $425 billion.
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The largest vault in the world is directly across the street from the Fed vault and is at the same basement level as the Fed vault. Rumor is it is connected by tunnel to the Fed vault. This vault, located at One Chase Manhattan Plaza was sold by JPM in 2013 along with the 60 story skyscraper above it to a large Chinese conglomerate, likely a front for the Chinese government. JPM continues to own a very large underground vault in London and has vaulted storage facilities in Shanghai.
There is one theory (conspirasy? lol) that JPM was directed to make the sale to the Chinese in order to facilitate the FED and the People's Bank of China's coordinated effort to introduce a gold backed SDR as the world's next reserve currency.
"Jim Rickards is a strong proponent of the theory that we will end up with the SDR as a global reserve currency and that gold will underpin it as gold is inflated to deflate the debt pile. He is predicting $10,000 gold on that basis. Indeed since the Yuan was accepted into the SDR in October 2016, there has been a steady correlation between the SDR and gold price at around SDR900= 1oz gold. Rickards believes the chances of that being coincidence are “infinitesimal”."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That's all??
