Is the Fed Lying About Its Gold?

[green73]

Mark Thornton talks to Lew Rockwell about monetary tsunamis.


https://www.youtube.com/watch?v=mrruGb_qkc0

[Zippyjuan]

What gold? The Fed doesn't own any. They do store gold for the US Treasury or other countries but don't have any of their own.

[green73]

I liked his explanation for the price of gold being kept down.

[Mini-Me]

What gold? The Fed doesn't own any. They do store gold for the US Treasury or other countries but don't have any of their own.

Whoa, I just checked their balance sheet, and you're right. They have a few billion dollars worth in "gold stock" (certificates) but no physical gold. I remember gonegolfing talking about how low-quality their balance sheet was, but I still was under the impression that at least a few percent of it was still supposed to be physical gold...apparently not.

[Zippyjuan]

US gold has always been owned by the Treasury.

[oyarde]

Whoa, I just checked their balance sheet, and you're right. They have a few billion dollars worth in "gold stock" (certificates) but no physical gold. I remember gonegolfing talking about how low-quality their balance sheet was, but I still was under the impression that at least a few percent of it was still supposed to be physical gold...apparently not.

What do you think of the balance sheet ??

[NoOneButPaul]

Im telling you guys... buy silver and gold. Keep stacking these metals.

The key is consistency, not bulk, this is still a long man's game I believe (they'll play their games for a while before it's totally finished) but ultimately the metals will win out and recount for the currency. If you can only afford a silver dime a week than stack a silver dime a week. The important thing is to stack these metals in a consistent fashion that fits into your budget. I think if people really understood what an achilles heel silver and gold are to the system they'd flock to them just to crash it.

Right now, with gold under 1600$ and silver 29$ it's a great time to get in.

In August of 1922 an OZ of gold in German Marks was 8,000
In August of 1923 an OZ of gold in German Marks was 100,000,000
Two months later it was worth 87trillion

Insure yourself while prices are still this low. Protect yourself against the madness that's being created.

[oyarde]

What gold? The Fed doesn't own any. They do store gold for the US Treasury or other countries but don't have any of their own.

Do they have everything they are to be holding ?

[Indy Vidual]

Im telling you guys... buy silver and gold. Keep stacking these metals.
...
......

In August of 1922 an OZ of gold in German Marks was 8,000
In August of 1923 an OZ of gold in German Marks was 100,000,000
Two months later it was worth 87trillion

Insure yourself while prices are still this low. Protect yourself against the madness that's being created.

I found this quote from a old bookmark: German Marks are worth more than rocks?