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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: long-gone who wrote (55165)6/26/2000 4:06:00 PM
From: Hawkmoon  Read Replies (2) of 116759
 
Richard,

If I own an asset, or a quantity of money, and deposit that asset in my bank account, doesn't that bank know how much I own?

Hence, although the gold is officially owned by the Treasury, it is deposited in the Federal Reserve Depository, thus the Federal Reserve KNOWS HOW MUCH GOLD THE US TREASURY HAS.

And if they treated that gold like any normal bank treats our deposits, the Fed would be leasing and loaning out that gold in order to net a profit fee for the Treasury. But people like yourself won't permit that so we miss out on those lending fees.

Why do I have to spell out the obvious to you?

Regards,

Ron
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