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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (1637)	10/19/2007 9:40:19 AM
From: Tommaso	Respond to of 71456

No, I am not sure about that. But it appears that aside from what's at Fort Knox, the other government gold is what's on hand at the mints, mostly, to make coins. The gold in the New York Fed does not belong to the U. S. government or to any bank, any more than the gold in my safe deposit box belongs to my bank. But the U. S. has no central bank with gold reserves to sell (or add to) the way the European banks have done. The Fort Knox gold has no more monetary function that the Strategic Petroleum Reserve. Less, in fact. Perhaps it does serve as a symbol, like an expensive engagement ring.