Wednesday, October 19, 2011

The Misleading Federal Reserve Video about Their Gold Holdings

Yahoo is out with a new video about the gold holdings at the Federal Reserve Bank of New York. Don't for a minute think this video shows even one ounce of gold that is the property of the Federal Reserve.

The gold in the video is gold held by the Fed for foreign governments. If you push the Fed, they will tell you that they don't own any gold. They just have gold receipts from the Treasury and that gold is not stored at the Fed, but at Fort Knox. The problem is that the government doesn't allow tours of THAT gold. Got that? The Fed will give you tours all day, every day of the gold that belongs to other countries, but no American gets to see (not even Congressmen) the gold that is supposedly at Fort Knox, supposedly held by the Treasury on behalf of the Fed. It's no wonder Ron Paul would like to audit the Fort Knox gold.

The below Yahoo video discusses the gold held at the New York Fed. The reporter, Tom Holmes, quickly states that the gold is held for 36 governments, but that can be missed and it's deeper meaning, that it is not US gold, can also be missed.


  1. I love the disclaimer at the end!
    proper safety precautions indeed..

  2. The NY Fed building really has to be seen to be believed. Photos and videos just don't do it justice. I walk by it daily and it never fails to impress me with how creepy it is. Architecturally, it's built like a brick shithouse with very thick and imposing walls. And despite the fact that tens of thousands of people must walk by it each day, you feel like you're in a ghost town when standing next to it. A very strange place indeed.

  3. I am "in the biz" (commodity broker) within sight of the NY Fed (2 World Fi)and was lucky to have a friend, ex employee of the Fed, who arranged a private in-the-vault trip for us and our 2 young boys some years ago. Memory is that a small percentage of that gold was US, 3-5%, but may have been for liquidity for transactions. It is an impressive place, but almost all of it belongs to other countries.