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Thread: Where's the Gold? NY Fed undergoes first-ever audit

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    Where is it?


    The countries with the largest gold reserves


    With gold prices hitting a record high, here are the 10 countries holding all the cards when it comes to gold reserves, according to the World Gold Council.


    The greatest demand for gold comes from the jewellery industry. There is also demand from technology sectors and investors.



    • 1 USA


    Total gold holdings: 8,133 tonnes
    Value: $361.8bn
    • 2 Germany


    Total gold holdings: 3,401 tonnes
    Value: $151.3bn
    • 3 IMF


    Total gold holdings: 2,814 tonnes
    Value: $125.7bn
    The IMF oversees international economic operations of 187 member countries. Reserves remain to stabilise international markets and aid national economies.
    • 4 Italy


    Total gold holdings: 2,451.8 tonnes
    Value: $109bn
    • 5 France


    Total gold holdings: 2,435.4 tonnes
    Value: $108.3bn
    • 6 China


    Total gold holdings: 1,054.1 tonnes
    Value: $46.9bn
    • 7 Switzerland


    Total gold holdings: 1,040.1 tonnes
    Value: $46.3bn
    • 8 Russia


    Total gold holdings: 824.8 tonnes
    Value: $34.9bn
    • 9 Japan


    Total gold holdings: 765.2 tonnes
    Value: $34bn
    • 10 Netherlands


    Total gold holdings: 612.5 tonnes
    Value: $27.2bn

    The United Kingdom lags well behind in 17th place in the world league table. Britain currently holds 310.3 tonnes of gold, valued at $13.8bn.
    As Chancellor of the Exchequer, Gordon Brown sold 395 tonnes of UK reserves between 1999 and 2002.

    The countries with the largest gold reserves - Telegraph


    Gold, if you don’t hold it you don’t own it. Many people, including myself, believe the USA with record debt has no real gold in Fort Knox. United States Debt Clock: What Is The National Debt of...





    Top 50 Countries with Largest Gold Reserves


    relbanks.comrankings/world-gold-reserves
    Below is a list of the top 50 countries with the largest gold reserves as of January 30, 2018. ... Gold holdings, 01/2018 (tonnes). Gold's share of foreign reserves.

  2. #12
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    Would it matter if Fort Knox turned out to be empty?


    As London seeks transparency, the US will not allow auditors near its gold reserves

    Gold mining must rank as one of mankind’s more futile occupations. Nearly all the gold that is dug up so expensively is destined to be buried somewhere else, and if the metal’s trade body has its way, we shall soon learn how much of it is buried under the streets of London.

    The London Bullion Market Association estimates that $26bn of bullion is traded every day in the City, but with most transactions directly between buyer and seller, it doesn’t really know. This is not at all modern, so the LBMA is pressing for transparency, at least as far as stocks of the stuff are concerned. The Bank of England alone is thought to be sitting on $150bn worth.

    Sadly, only a few bars belong to the UK taxpayer. The rest is a useful little earner from owners who have confidence that the BoE will look after it. So while ownership changes all the time, sometimes on paper, nowadays more often in pixels, the bullion slumbers peacefully in the vaults.

    More than any other, the gold market is built on confidence. The LBMA thinks greater transparency will help build it further, attracting more business to London, and it could be right, although those buying as an insurance policy against Armageddon would surely want actual metal. A paper certificate might not command the same respect in a global crisis.

    Much of the world’s excavated gold is thought to be in Fort Knox, but nobody can be sure, since the US government will not allow the auditors in. There may be nothing more there than millions of gold-painted bricks inside a fancy security system.

    Would it matter if Fort Knox turned out to be empty? In theory, its gold backs the greenback. In practice, there has been no connection since President Nixon broke the tie. Apart from wondering where it all went, would we, or the US taxpayer, be any worse off? These are deep waters, Watson . . .

    Would it matter if Fort Knox turned out to be empty ... 10 Nov 2018.


    Has the Federal Reserve Sold the Gold at Fort Knox?



    The famed Fort Knox is a facility managed by the U.S. Mint. Curiously, however, in a recent exchange of e-mails with a gold investment blog, the former director of that agency demonstrates a disturbing lack of knowledge about the precious metal supposedly stored there. And the Federal Reserve may be hiding the location and value of the allegedly missing bullion.

    On July 1, Koos Jansen of goldseek.com published another in a series of posts exploring the fate of the gold allegedly kept in vaults at Fort Knox, Kentucky. In his latest article, Jansen makes some startling claims that if proven true, should instantly constrain Congress to investigate the situation with the gold inventory.

    Jansen questions the accuracy and reliability of the recent audit of the reserves. In his own words, he is investigating “the audits performed on 95 % of US official gold reserves — the 7,628 tonnes stored by the US Mint — this is referred to as Deep Storage gold, 4,583 tonnes is at Fort Knox, 1,364 tonnes in Denver, 1,682 tonnes at West Point. In total US official gold reserves account for the 8,134 tonnes, owned by the US Treasury.”

    Specifically, he is concerned with the biggest cache of bullion — that supposedly being held at Fort Knox.

    Goldseek isn’t the first to question the federal government’s official position regarding the amount of gold held in reserve by the United Stores or the location of those bars. A quick Google search reveals that for at least the last five years, several mainstream news organizations have asked questions similar to those posed by Jansen.

    For example, in 2010, CBS News published a story about the gold, questioning the veracity of the government’s claims:

    Protected by a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (that's about $168 billion at current prices), are stacked inside massive granite walls topped with a bombproof roof. Or are they?

    It’s hard to know for sure.

    In 2011, CNN reported that Ron Paul (then serving as a congressman from Texas) wanted all the gold audited — the entire inventory. “Treasury officials insist that the gold is audited annually and is all there,” the news channel reported. Paul was not willing to take the federal government at its word, however. CNN added:

    During the hearing, Paul suggested that the Federal Reserve of New York, which has 5% of the U.S. gold reserves, has the ability to secretly sell or swap gold with other countries without anyone knowing. "The Fed is pretty secret, you know," said Paul, who leans Libertarian. "Congress doesn't have much say on what's going on over there. They do a lot of hiding.”

    That’s right: The Federal Reserve — the ultra-secretive central bank that controls the flow of money in the United States — apparently has monopoly control over the gold, too.

    Then there is this point made by U.S. News:

    A proper audit would verify both the quantity and purity of the U.S. gold hoard. Ideally, each gold ingot would be individually numbered and tested and at the end a reputable nongovernment auditor such as a major accounting firm would attest a complete inventory of separately numbered ingots. This should be a fairly straightforward task. The failure to conduct the audit is perennially advanced as evidence that the gold does not exist.

    Knowing what should be done only leads to the question of what is done. That is to say, just how is the gold audited and who does the counting?

    Although the vaults are under the management of the U.S. Mint, it is the Treasury Department and the Government Accounting Office that do the counting.

    Well, some of it. You see, the gold at Fort Knox is not counted and hasn’t been since 1986, if it even was then. But, the feds don’t admit that openly.

    "We know where it is. We know how much there is. We know it's there. None of it has been removed," insists Treasury Inspector General Eric Thorson, as quoted by CNN.

    That’s the part where Jansen — and Ron Paul — think the story falls apart. Here’s why.

    First, Jansen points out that since 1986, the vaults have literally been sealed shut. The seals were wax with a ribbon running through them connected to a document declaring the vaults sealed.

    “The Treasury Office Inspector General (OIG), which is currently responsible for the Deep Storage gold audits, has told me it is absolutely not routine to break the seals. Neither for inspection by a US Mint Director nor for the President of the United States will the seals be broken,” Jansen writes.

    In 2010, however, the seals were broken and new, more durable plastic seals replaced the old wax ones. Here’s the story from Jansen:

    At the Gold Transparency Act in 2011 the OIG stated:

    More recently the Mint decided to replace all of the previously placed Official Joint Seals with new seals. The new seals are more durable, having a double security barrier seal that can only be removed by two cuts with a strong cable cutter.

    The Mint replaced all of the previously placed Official Joint Seals with new ones during fiscal year 2010. The seal replacement process consisted of two steps: (1) inspection of all previously placed Official Joint Seals on all the compartments containing deep storage gold to determine whether they had been altered or compromised in any way, and (2) placement of a new Official Joint Seal. The seal inspection and replacement process was carried out for all 42 deep storage gold compartments, in the presence of a Treasury OIG auditor, by a Mint headquarter staff person, representing the Mint Director, and a Mint storage facility staff person, representing the facility’s Plant Manager. For each Official Joint Seal removed, the Mint headquarters representative, the Mint storage facility representative, and the observing Treasury OIG auditor signed an inspection report; the same parties also signed the new Official Joint Seal that replaced the one removed.

    So, it’s not likely that the former director of the U.S. Mint, Edmund Moy, saw the gold ingots stored at Fort Knox, as he claimed during a speech at a coin and collectible expo in Baltimore in 2013. The report cited above issued by the Office of the Inspector General states that a “mint headquarters representative” attended the seal swap, not the director himself. Moy’s presence at the event surely would have been noted in official reports.

    The next aspect of Jansen’s research also involves statements made by Moy that don’t hold up to investigation.

    At the convention in 2013, Moy told attendees the following story about how the gold got to Fort Knox to begin with:

    And these bars up at Fort Knox … looked like dirty gold with some corrosion on them and they’re not as yellow.… And then you realize, Roosevelt had made it illegal for Americans to physically possess gold coins, and he melted all those gold coins and that’s what ended up being the initial stock at Fort Knox. A lot of those coins were 22 karat gold which then had impurities. You know and a lot of it wasn’t refined when it was made into these bars that ended up making it into Fort Knox. When you take a look at them, at each bar, you realize what history is behind it, how many coins must have been melted in order to make the bar, and what life stories must’ve been part of all that.

    Not exactly true, Jansen claims. He reports:

    In 1933 gold coins in the US accounted for 2,515 tonnes, of which 1,901 tonnes were already held at banks and the government. The difference, 614 tonnes, could not have made US gold reserves increase 13,041 tonnes (from 6,505 tonnes in 1933 to 19,546 tonnes in 1940). The dramatic rise in US gold reserves was caused by imports.

    Finally, what about the annual audit that detractors of the missing gold theory — including Moy himself — insist proves the gold is in Fort Knox and that none of it is missing? Jansen blows the cover off that claim, too:

    The official story from OIG is that 100% of the gold stored at Fort Knox was audited in between 1974 and 1986, although there is no US government department that has the audit reports…. After the gold was audited by the Continuing Audit committee all compartments were placed under Official Joint Seal. Currently, the OIG is said to inspect the seals every year, that’s all they do.

    No gold is counted, no gold is even inspected. The seals are checked and the “audit” is complete.

    In a message posted to Twitter in January, 2015, Moy himself called on Congress to “authorize a comprehensive audit” of the Deep Storage gold reserves.

    There are many who claim that the Federal Reserve doesn’t want a proper audit because the gold is not there, at least not all of it. Some groups believe that as part of its effort to manipulate the economy, the Federal Reserve has sold the gold.

    “The gold market is being manipulated by the Fed,” says Gold Anti-Trust Action Committee spokesman Chris Powell. “It’s involved in gold swap agreements with foreign banks. Gold is a major determinant of interest rates.”
    An audit would answer this crucial question. Perhaps it’s time to force open the 22-ton door that stands between our alleged gold reserves and the eyes of our elected representatives.

    Has the Federal Reserve Sold the Gold at Fort Knox? 08 July 2015.

    Do you trust the Federal Reserve or the Government?

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  4. #13
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    Quote Originally Posted by jagdmesser View Post
    Do you trust the Federal Reserve or the Government?
    Two words: HELL NO!
    “A dying culture invariably exhibits personal rudeness. Bad manners. Lack of consideration for others in minor matters. A loss of politeness, of gentle manners, is more significant than is a riot.” Robert A. Heinlein

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    Mystery of the Venezuelan gold: Bank of England is independent of UK govt – but not of foreign govt


    Pirates don't have to look like Johnny Depp in Pirates of the Caribbean. They can fly the Union Jack rather than the skull and crossbones. They can be called the Bank of England rather than the Jolly Roger.


    The 'Old Lady of Threadneedle Street' is a port in a stormy world for all kinds of countries in which to moor their national wealth. And it's not even necessarily voluntary.


    After the fall of the communist regime in Albania, I had a brief tenure as joint chairman of the Britain-Albania Society with the Tory MP Steve Norris. He and I had to move mountains to try and persuade the British government (which then entirely controlled the Bank of England) to give the Albanians back their gold, which had been seized by the British during Second World War.


    This week's brigandry – unnoticed by any commentator I read – took place in an era when the Bank of England is officially independent of government control. And yet it was triggered by a phone call from a foreign government official. The bank's decision to seize – a polite word for steal – more than a billion dollars' worth of Venezuelan gold was reported to have been ordered by the governor after a call from US National Security Advisor John Bolton and Secretary of State Mike Pompeo – not even the president himself.


    If I'm right, then this decision to damage – hopefully irreparably – the safety of deposits in the Bank of England was taken by an unelected, unaccountable Canadian citizen (who only got his British citizenship in November). He is here today but gone tomorrow as the governor of the Bank of England. The foreign policy of the state – whose bank it is – was thus at least anticipated if not usurped by Bolton, a minor official of a foreign country. Was that what the Tory champions of Brexit had in mind when they campaigned for Britain to "take back control"?


    Of course the governor, Mark Carney, will have known that Bolton was pushing at an open bank vault door and that Britain is no more independent from the United States than the Bank of England is independent from the British government.


    In addition, no Caribbean crocodile could shed tears more insincere than those currently being shed by British politicians for the "poor suffering people" of Venezuela. After all, what kind of monster could seize a billion dollars from "poor and suffering people"?


    In around 72 hours last week, Venezuelan President Nicolas Maduro was transformed from somebody hardly anyone in Britain had ever heard of, into the new "Hitler on the Nile." This appellation was first applied in post-war Britain to President Nasser of Egypt when he nationalized the Suez Canal. Unfortunately for the imperium, this was actually in Egypt, the country of which he was the president. After all, to paraphrase Donald Rumsfeld, it wasn't Britain's fault that God put Britain's canals in other people's countries.


    And there have been many since: Yasser Arafat, Muammar Gaddafi, Bashar Assad, Slobodan Milosevic, Vladimir Putin, and more.


    The transformation has been astonishing to watch, even for me, who has been active in politics for 50 years.


    All the carefully tended gardens of NGOs, "independent journalists,"and experts all flooded forward with their long-husbanded narratives about the perfidy of the Chavez revolution in Venezuela. They did universally suffer two disadvantages however: none of them could even pronounce the name of the man in a street in Caracas whose self-proclaimed presidency they were recognizing. And none of them appeared to know that the US had been imposing a medieval siege of sanctions, sabotage and subversion against Venezuela. At least none of them mentioned it.


    None of them, like in every other foreign regime-change operation they'd pushed for, had the remotest idea of what would happen in Venezuela if they succeeded, not least how the many millions of armed Chavez supporters might take to their government being overthrown by foreigners. It is hard to work out whether these journalists and politicians demanding civil war on the world's biggest oil-fields are criminally insane, just criminals, or whether they can plead diminished responsibility on the grounds they didn't actually know what had already happened in Afghanistan, Iraq, Yemen, Syria, Ukraine, etc.


    The demonization of Venezuela across even those Western countries which scarcely have functioning governments themselves has been a tidal wave. The pitiful resources Venezuela has invested in solidarity work in Britain – or if they did invest it no-one can explain where it went – was summed up by the complete refusal of the Venezuelan Solidarity Campaign to put someone up for my RT show Sputnik last week, referring me to the Cuba Solidarity Campaign next door.


    They, in turn, suggested the Englishman who ably edits the British newspaper, the Morning Star. Seldom can a big and important oil-rich country – vulnerable to Western invasion as it has predictably turned out to be – have bothered to make so few friends.


    Events on the ground in Venezuela will decide what happens next, however. In my view, there will be many cutlasses flashing and slashing before this is through. And just like in all the other cases I've referred to, the outcome will prove to be the opposite of what the hirelings of the imperium now imagine.



    Any government that keeps their gold in a foreign country, is run by cowardly beta males placed and owned by the bank of England owned by the Rothschilds who own the world.



    Mystery of the Venezuelan gold: Bank of England is independent of UK govt – but not of foreign govt 29 Jan 2019.
    “How did our oil get under your country?”

    All gold belongs to the ‘tribe’.

    These things are not personal.

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    Wheres the gold? Probably in Israel.

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    20 tons of Venezuelan Gold goes to Russia



    Did Russia Take the Gold


    Venezuela: some claim that #Russia just exported 20% of the countries #gold the Russians say no but #Bolton admits that the US is coming for the Oil.


    $840M in gold bars prepared for loading onto Russian jet at Venezuelan airport


    About 20 tons of gold from Venezuela’s central bank was ready to be hauled away Tuesday on a Russian airline’s Boeing 777 that landed in Caracas a day earlier, a Venezuelan lawmaker wrote on Twitter.

    The destination of the $840 million in gold bars was unknown, but a source told Bloomberg News that it represented about 20 percent of the country’s holding of the metal. The gold was set aside for loading, the report said.

    The news outlet, which first reported on the tweet, identified the lawmaker as Jose Guerra. The lawmaker did not provide evidence for his claim but is identified in the report as a former economist at the country’s central bank with close ties to workers still there.

    Noticias Venezuela, a news outlet in the country, posted a photo of what it identified as a Nordwind Airlines plane from Moscow that made the trip with only a crew aboard.

    Russia, one of President Nicolas Maduro’s staunchest supporters, is reportedly owed billions by the Latin American nation. Russia has said it expects Venezuela to have problems repaying debt ahead of an upcoming payment on a Russian loan.

    Russia also has extensive commercial interests in Venezuela, including state oil company Rosneft’s partnership with Petroleos de Venezuela SA, a state company placed under sanctions Monday by the United States.

    Venezuela is treading in the uncharted political waters after opposition leader Juan Guaido declared himself interim head of state last week in a direct challenge to Maduro’s reign. The 35-year-old head of the opposition-led national assembly has the backing of more than a dozen mostly western nations including the United States, Canada and several members of the European Union.

    Venezuela’s Supreme Court on Tuesday agreed to a prosecutor’s request to prevent Guaido from leaving the country while the Socialist government conducts a criminal probe into his activities.

    Guaido said outside the National Assembly building that he was aware of personal risks, but added, “Venezuela is set on change, and the world is clearly conscious of what’s happening.”

    FOX NEWS


    VENEZUELA CRISIS: DID RUSSIA TAKE THE GOLD | A FIERY MESSAGE TO POTUS: US INTERVENTION WOULD TRIGGER WAR WORSE THAN VIETNAM 01 Feb 2019.
    Venezuela is the world’s third biggest oil producer.
    Many of the countries where CIA coup d'états take place, owe Russia money. About time they beat the tribe to it and got in first.

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