The West depends on the dollar system. The main ‘growth’ area in The West is debt. The seven billion or so who live outside The West are quietly making alternative arragement to the dollar based system:
Most central banks now expect gold to make up a greater share of reserves, World Gold Council found.
So mutch for financal experts - Financial Times almost 20 years ago
It will hold their economies back. We are investing in factories instead of wasting the resources on gold we do not yet own. Besides we have more gold already than them in our central banks.
There were no regular controls over the American gold since the beginning of the 50’s. There were only some random checks. After the closure of the «gold window» in the early 70’s (suspension of gold for dollars convertibility), it was decided to audit the reserves. Some random audits were carried out between 1974 and 1986, and were suspended following pressure exerted by the Inspector General of the Department of Finance.
I suspect what there is has been hypothecation and re- hypothecated many times
I wonder why the Inspector General of the Department of Finance didn’t want an audit, as a retired auditor myself I find this strange
That is the goldbug blogger claim of yore. There is no way in hell the US is not auditing its gold. The claim is pure fiction.
Just like the US military is not audited. The military has budget proposals that are ultra detailed. All agencies and departments have stringent budget requirements for projections and reporting.
May 26, 2021 / America’s gold reserves would be audited for the first time in more than 60 years if a measure introduced yesterday by U.S. Representative Alex Mooney (R-WV) becomes law.
The Gold Reserve Transparency Act of 2021 backed by the Sound Money Defense League, , and free-market activists - calls for the first true audit of United States gold reserves since the Eisenhower administration.
I am not going to provide an ounce of evidence. You believe the US government wont audit its gold and want to believe any publication or quack that says that. That is only on you. You can use Google.
I’m not saying the gold is not there, I’m just saying that it isn’t audited and as a retired auditor I find this strange, very strange indeed.
If the gold is these I wonder who ownes it? I suspect that the US Treasury is running some kind of fractional gold scheme and the gold is hypothicated and re-hypothicated many times.
The clues are there.
It took Germany long enough to get its gold back:
Reportedly, the US Federal Reserve has refused to allow the Germans to even physically inspect Germany’s gold to see it was even in the Fed’s custody. Again, if the US Fed really had Germany’s gold safely held in a custodial location (as it should), this would be an easy request to grant. Any refusal is tantamount to an admission the gold it not there to inspect.
Somethi g just doesn’t ‘smell’ right about this - that’s my auditor’s nose at work
If the US gold is audited where is the audit report? Please point me to it.
Congresman Ron Paul can’t find it:
Because the Government has for so long refused to provide substantive information on its gold holdings, it is not surprising that so much confusion abounds, both within and without the Government.
This gold belongs to the people, especially since much of it was forcibly taken from them in the 1930s, and the Government owes it to the people to provide them with the details of these holdings.
Here are some basic facts. Also stated here is the gold is audited. But of course if bloggers selling gold say it is unaudited clearly god told them so.
see first link, the second link is taken from the first link’s materials.
It sure doesn’t. It fact, it seems completely nutso. “Reportedly” by whom? The German government? Nope. The story provided five links, four of which were broken and one was paywalled. But never mind. This exact turn of events was prophesied in the Bible!
Who needs actual sources if you have the Bible? However, I was still a bit confused, so I fired up Google and it turns out the Bible is wrong. The Germans got all their gold back, and ahead of schedule too.
The country’s central bank announced Wednesday it has completed a program to repatriate gold bars worth nearly $31 billion from storage locations in New York and Paris.
Germany has been bringing gold home to Frankfurt from the two cities since 2013. The final 100 tons were moved from Paris earlier this year, the central bank said. In total, 743 tons have been transferred. The project was completed three years ahead of schedule.