"The U.S. Treasury has NO GOLD. But the Federal Reserve Bank indeed has gold. It has 262 million ounces of the shiny yellow. Most of it stored in the FRB of NY. However, the FRB does NOT BELONG TO THE U.S. GOVERNMENT, nor to the American people."
The TREASURY has no gold, true sort of. But:
"A large amount of the United States' gold reserves is stored in the vault of the Fort Knox Bullion Depository, one of the institutions under the supervision of the Director of the United States Mint. The remaining gold reserves are held in the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office, also facilities of the United States Mint."
treas.gov
usmint.gov
But!!! the FRB is the CB of USA:
"The Federal Reserve System is the central bank of the United States. Established by Congress in 1913, the Federal Reserve System consists of the Board of Governors—a central governing body in Washington, D.C.—and 12 regional Reserve Banks"
stls.frb.org
And for total mind blowing reading:
www4.law.cornell.edu
SO FRB is the CB of the USA, and who's actions are monitored by the FOMC: federalreserve.gov
These people report to the congress, under the Humphrey-Hawkins Report. federalreserve.gov
SO... what gold the FRB has, which amounts and sales of are reported:
federalreserve.gov
11,047 Million or @ $287.50 = 38.42Mounces or 1200 Tons.{did I convert that right?}
But should the FRB require more, they must communicate with the Treasury who communicates with the US Mint to release more gold to FRB.
ALL FRB gold sales and holdings are reported:
federalreserve.gov
Comparisions of data shows that the US FED, through the US FRB has not sold any appreciable amounts since july 26, 96 till today.
federalreserve.gov
Gold stock: 11,050 Million Dollars POG: $385.78 july 26/96
28.64 M ounces
federalreserve.gov
Gold stock: 11,047 Million Dollars POG: $288.16 march 3/99
38.33M ounces
Dont forget this is DOLLAR terms of POG... Since July 26/96 the number of ounces has gone from 28.64M ounces to 38.33M ounces... or 12.36% compounded growth.
This is why I believe that the US has been in a collusion for supporting the POG. This is why I question the GATA claims. And this is why I've suggested to many that the US FED has not been selling, but buying. I mentioned this all a long time ago. This even shows that amounts held by each of the 12 district banks.
I think a better understanding of FED data would be the best thing for GATA. Not intended as insults, but research is power.
Now the question comes: How much gold is at the US Mint? |
