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« VIDEO: Inside The Bank Of England's Gold Vault | Main | HOT LINKS: Treasury Secretary Google? »
Monday
Dec102012

25% Of World's Gold Buried Underneath The NY Fed

Speaking of terrorist plots to blow up the NY Fed.

According to the government, 25% of the entire global supply of gold, approximately $355 billion, is buried six stories below ground, underneath the Federal Reserve Bank of New York building at 33 Liberty Street in downtown Manhattan.  The same Federal Reserve Bank that was targeted by an alleged Al-Qaeda linked terrorist with a fake 1,000-pound bomb.  Of course, until we audit the Fed, all claims of fortressed gold are just heresay.  You can book a tour to see the bars for yourself.  But in that case, seeing might be disbelieving.

"The closest thing to a real audit was last performed in 1953, but even that one had major problems. First, there were no independent outside parties involved, and second, only 5% of the gold was tested for purity."

For the nearly 60 years since then, the reserves have been held under tight control by a group of men closely connected to the Wall St. banks. Zero oversight by the American people or their elected representatives has been permitted.  Last year, as part of their coverage of Ron Paul’s inquiry into the gold reserves, CNBC was denied the opportunity to even film any of the gold in Fort Knox. They were told that it was a “closed facility.”  One staff member even said that he was not aware of any member of congress having toured the facility since 1974.

According to a treasury document, a full audit of the gold would take 30 minutes per bar for a total of 350,000 man hours, or 400 men working for 6 months. Total cost would be $15 million.  Sounds like a bargain.

That is stimulus spending we can agree with.

 

UPDATEUncle Sam audits its stash of gold at the New York Fed...

 

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Reader Comments (15)

Is this $$$$value correct, less than 1 1/2 $trillion total? That doesn't sound right. And as far as those so called bars in the story go, how do we know whether or not they are real of fools gold?
Oct 18, 2012 at 2:10 PM | Unregistered CommenterNorman
I'm not sure on the total gold number, Norman. Someone will do a google check and report the number. And yes, we do need to AUDIT the U.S. supply of gold.

According to a treasury document, a full audit of the gold would take 30 minutes per bar for a total of 350,000 man hours, or 400 men working for 6 months. Total cost would be $15 million. Sounds like a bargain.

By the way, when was the last stimulus project that created 400 jobs with $15 million. The last project I saw created 100 jobs with a billion in spending.

http://dailybail.com/home/obamas-9b-green-stimulus-created-900-jobs-10m-each.html

That's $10 Million per freaking job!
Oct 18, 2012 at 4:05 PM | Registered CommenterDailyBail
Proof that Power Seduced Alan Greenspan

http://www.economicpolicyjournal.com/2012/10/proof-that-power-seduced-alan-greenspan.html

Thanks to EPJ for linking to our story.
Oct 18, 2012 at 4:32 PM | Registered CommenterDailyBail
Does tungsten count?
Oct 18, 2012 at 5:39 PM | Unregistered Commenterrobertsgt40
Oct 18, 2012 at 6:02 PM | Registered CommenterDailyBail
Oct 19, 2012 at 8:54 AM | Unregistered CommenterBackgammon
What about all the gold that was stolen on 911 from WTC 5 ? Wonder who owns that now ...not Osama Bin Laden thats for sure. Funny how it is never mentioned .
Dec 10, 2012 at 6:49 PM | Unregistered CommenterMick
It would be interesting to park a van nearby, with some deep penetrating ground radar gear.
Dec 10, 2012 at 7:15 PM | Unregistered CommenterTerraHertz
Tell it to the Marines- About three years ago, I read on the net that Kissinger sent fourteen tons if gold from Ft Knox to Mexico City.
How low can you get ? Gold-plating wolfram bars?These people must hang in the town square. Can you believe leasing gold to fix someone's books?? Bullshit baffles brains.How many ways can you disguise theft. The main one is BONUSES. tHE EUPHEMISM FOR EMBEZZLEMENT for crissakes
Dec 10, 2012 at 7:42 PM | Unregistered Commenterhank
Why would the American people today actually believe ANYTHING the government actually states? History has proven that you are a fool if you believe known liars !
Dec 10, 2012 at 8:10 PM | Unregistered Commentertightlipped
Why can't people just leave the gold in the earth & pretend they own gold?
Dec 10, 2012 at 8:46 PM | Unregistered CommenterAugust
To August, probably because they're greedy. The common person can't dig it up/pan for it without investing much $$$$. Besides, what can you do with it besides look at it? You can't eat it, but you can sell it if you can find someone who will pay the price.
Dec 10, 2012 at 10:02 PM | Unregistered CommenterNorman
Ever questioned why many countries store their gold to a private company--Fed reserve? Germany wants it's gold back home--Fed Res. says--no way.
All we say was a Gold brick wall-I'll bet--not much behand it. Suckers abound!
Dec 10, 2012 at 10:34 PM | Unregistered Commenterjojo
Alledgedly under the FED...
Dec 11, 2012 at 12:36 AM | Unregistered CommenterS. Gompers
Now....let's see the vaults of the Rothchilds and such.

Not that ANY reports would be legitimate....

~Blessed Be to all~
Dec 11, 2012 at 2:39 PM | Unregistered CommenterWhizerd67

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