Sunday, October 17, 2010

UH OH! Germany Lost 66% of their Gold by having Stored it in the United States in the Trusty hands of the Federal Reserve? And Another 21% in the Trusty Hands of U.K's Govt? We all know, there is really NO Gold in Fort Knox, if it Looks like Gold - Well can someone say "FAKE"?

I knew the U.S. held gold for other countries, but I did not realize that the U.S. was the custodian for 66% of Germany's Gold!  London holds 21% of their gold!  Look at this graph of Germany's gold and where it is held. 




If I was Germany right now, I would be just a little bit worried.  Both U.S. and U.K.'s officials have proven themselves to be untrustworthy.  They will do whatever it takes to keep the banks happy.  We also know how Gordon Brown sold off most of U.K.'s gold when the price was the lowest possible, years ago.  We also have heard and it has been proven of the fake gold in the form of bars, filled with tungsten and only a small gold layer on the outside.  Let's also look at the FACTS, there has not been an audit of Fort Knox, since Truman's administration, though Ron Paul has called for one over and over again.  He is trying to get a bill passed once more.    Remember Hong Kong received Fake Gold from London last year, when they called their gold back to put in their newly built vault. 

The fact Germany has so much gold held outside their country, this article even says: The U.S. may even just keep the gold as their own.  (Bet that would start a war on it's own) 

Portions from article:

Related to an essay by former U.S. Treasury Department and Federal Reserve official Edwin M. Truman (in which he is advocating that the United States should sell its gold reserves - see http://www.gata.org/node/9150.), Powell states with regard to Rickards interpretation:
“Rickards construes Truman's essay to mean that the U.S. political and financial establishment isn't thinking about using gold to restore some strength to the dollar and as a result the dollar will collapse and the world monetary system's return to gold will be chaotic rather than rational.

And, in addition to that, there is over 6000 tons of foreign official gold that is stored in the United States that we could always convert if we wanted to. If that gold is at the Federal Reserve Bank of New York, the United States could just secure it. We could send in a military convoy and move it to West Point or some secure US location and then just give the Europeans a receipt. So we could actually up our gold supply to over 14,000 tonnes very, very quickly. So we are a gold superpower.
In a way, the Fed could afford to trash the paper dollar, or at least experiment and risk trashing the paper dollar because if the paper dollar collapses, we could just go back to gold pretty easily. But the rest of the world can’t, especially if we take their gold.

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