Monday, February 24, 2014

The NY Fed Is Hiring: A Gold Vault Custody Analyst, Must Be "Able To Physically Lift Valuables"

This is certainly a cush job. I don't think there is much gold left.

From a job posting at

Area Overview
The Financial Services Group (FSG) operates and oversees payments system processing for the Federal Reserve Bank of New York. The FSG provides depository institutions with various payment services, including electronically transferring funds and distributing and receiving currency and coin and other valuables, as part of its central banking mission to ensure an efficient, effective and accessible payments system. Its goal is to be the most trusted and respected provider of financial services in the world.
An important and unique service provided by the New York Fed is safekeeping Gold. Various foreign governments, central banks, and international organizations entrust the FRBNY with safeguarding and storing their monetary gold reserves. The Gold Vault is currently the world’s largest accumulation of gold, is visited by over 25,000 members of the public each year, and is part of the Cash and Custody Function.
The Gold Vault is currently looking to fill the position of Gold Vault Custody Analyst. A Gold Vault Custody Analyst is charged with performing all of the critical responsibilities associated with safekeeping, accounting for, and displaying all gold entrusted to the FRBNY.
Job Responsibilities
  • Open & close the Gold Vault on a daily basis
  • Account for all gold holdings using the Gold Vault System
  •  Coordinate and facilitate periodic audits of gold holdings for various agencies and central banks
  •  Administer the Public Window to receive/pay and account for limited currency and coin transactions
  •  Maintain and update Gold Vault access rosters
  •  Conduct periodic sales of new-issue coins and currency types
  •  Coordinate all arrangements for gold movements and shipments as directed by Central Bank Services
  •  Manage and coordinate allocation of compartments for storage of valuables for various Bank functions
  •  Ensure the Gold Vault stays well-maintained and fully operational
  •  Provide detailed tours of the Gold Vault for foreign dignitaries, VIPs, and Bank Officers and their guests; Coordinate and facilitate public tours given by economic education
  •     Undergraduate degree or equivalent work experience
  •     Strong interpersonal skills and ability to work well as a member of a team
  •     Able to present and communicate effectively with multiple groups and organizations with the appropriate decorum
  •     Strong coordination skills
  •     Exceptional customer service skills and ability to interact well with a diverse customer/ stakeholder base
  •     Strong analytical thinking and problem solving skills
  •     Strong PC skills to include MS Word, MS Excel, MS Visio, etc.
  •     Strong ability to complete daily tasks and assignments with minimal supervisory intervention
  •     Acute sense of attention to detail and ability to keep detailed notes and records of work performed
  •     Familiarity with basic accounting and record-keeping principles
  •     Ability to work within established guidelines and regulations
  •     Willing to work overtime on a limited, as-needed basis
  •     Able to physically lift valuables (approx 50 lbs)
(Via ZeroHedge)


  1. Ability to keep two sets of books a must.

  2. The Outliers

    So far so good… but I think a key insight comes from understanding WHY there are a comparatively small number of gold and silver investors, and more precisely why such an outstanding, traditional investment vehicle is now considered so outside the mainstream. When one considers how precious metals are portrayed and discussed, however, it makes perfect sense, particularly when one thinks about who, precisely, controls that mainstream narrative. You can tell what a power structure fears most by observing the energy and resources they deploy against that thing, and the ‘thing’ the fiat currency regime fears most intensely is a preference cascade to real money.

    Consider the vast array of resources deployed today against gold and silver investing. First, we see a regular drumbeat of negative articles, the full weight of the mainstream financial media and legions of writers on financial websites brought to bear to convince people NOT to buy gold and silver. We see variations of the same hackneyed articles year in and year out, regardless of the state of the markets or the price. These constant attempts at shaping opinion and sentiment employ misleading arguments, ignore contrary evidence, and use every rhetorical trick in the book to convince people that gold and silver are “risky” and “speculative” (Anatomy of an MSM Hit Piece on Gold), when the reality is that they the most historically stable stores of value known to man. We also see mainstream brokerage houses issuing sell recommendations year after year, for assets which ironically they never told their clients to buy in the first place (It’s Never a Good Time to Buy Gold). All of these operate within a conventional milieu of financial advisors emphasizing “traditional investments” (i.e. fiat based, fiat supporting) while going out of their way to dismiss gold and silver – think Berkshire Hathaway’s Charlie Munger claiming “Civilized people don’t invest in gold” for a fairly standard example. If you think about the totality of the effort used to try and manage the public perception of gold and silver, you start to get a sense of just how intensely these things are feared by the Fed/Finance/Political regime.

  3. Sounds like they want to hire a patsy. There's some reasonable suspicion worldwide that the gold isn't there. The job description specifies this person will have physical access to the gold, responsibility for maintaining the physical access controls, the physical strength to carry it out of the place, and access to the book-keeping? No thanks.

  4. *must have balls of steel...