Central banking with ‘other people's gold’: A $368bn treasure trove in Lower Manhattan (Op-Ed)

Central banking with ‘other people's gold’: A $368bn treasure trove in Lower Manhattan (Op-Ed)

Published: 23 January, 2013, 22:39

Germany is repatriating its gold reserves from the New York Federal Reserve. This decision has created a frenzy in the gold market. But that is just the tip of the iceberg.

According to the NY Fed, there are (2012) approximately 530,000 gold bars, with a combined weight of circa 6,700 metric tonnes stashed away in the Fed's Lower Manhattan vaults.

These are official figures which are impossible to verify.

The gold is stored in the fifth sub-floor of the New York Fed building on Liberty Street. The vaults on the bedrock of Manhattan Island are located 80 feet below street level.

Each of the 530,000 gold bars weighs 400 troy ounces, or about 12.44kg.

At today's market value of approximately US$1700 dollars a troy ounce, the New York Fed has within its vaults a multi-billion dollar treasure trove.

The 400-ounce gold bar is quoted at $677,640.

A 1kg gold bar is quoted at about $55,000. (purchase price)

Each metric tonne of gold is worth approximately $55 million.

The total value of the New York Federal Reserve's gold bullion trove of 6700 tonnes is a staggering $368.5 billion.

But according to the New York Federal Reserve: "We do not own the gold. We are mere custodians."

The gold is in "safe-keeping" on behalf of more than 60 sovereign countries and a few organizations. Close to 98 per cent of the gold bullion stored in the NY Fed's lower Manhattan vaults, according to the Fed, belongs to central banks of foreign countries.

The remaining 2 per cent "is owned by the United States and international organizations such as the IMF."

Germany's central bank owns a total of 3400 tonnes of gold. According to recent reports, a staggering 69 per cent of its gold bullion bars (namely 2346 tonnes) are held in custody at the New York Federal Reserve, the Bank of England and the Banque de France.

The NY Federal Reserve Bank holds in custody 1536 metric tonnes of gold owned by the Bundesbank of the Federal Republic of Germany, 22.9 per cent of its total gold holdings in custody (6700 tonnes).

The Bundesbank has announced that it will repatriate "all of its 374 metric tonnes stored at the Banque de France (11 per cent of its total reserves), and 300 metric tonnes held in the vault of the New York Fed, reducing its share in the US from 45 per cent to 37 per cent." .

Two other European countries, namely Italy and the Netherlands, have significant yet undisclosed gold bullion reserves held in custody in the vaults of the NY Federal Reserve Bank. There are no immediate plans to repatriate this bullion.

While the NY Federal Reserve Bank does not actually own the gold, it is guardian of a multibillion-dollar gold treasure, which indelibly provides ‘collateral’ (at virtually no cost) as well as ‘leverage’ in its multibillion-dollar central banking operations, often at the expense of its European partners.

The New York Fed’s gold vault on the basement floor of its main office building in Manhattan provides account holders with a secure location to store their monetary gold reserves.

None of the gold stored in the vault belongs to the New York Fed or the Federal Reserve System. The New York Fed acts as the guardian and custodian of the gold riches on behalf of account holders, which include the US government, foreign governments, other central banks and official international organizations.

In other words, the Fed runs its operation ‘with other people's gold’, using this huge treasure as ‘collateral’ to back its various financial undertakings.

Foreign countries around the world were pressured after World War II into depositing their gold reserves, not within the vaults of their own central banks, but in that of the world's foremost imperial power. 

FULL STORY: http://rt.com/news/gold-manhattan-new-york-594/

Views: 97

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

Doc Vega, Chris of the family Masters, cheeki kea and 3 more were featured

 

Latest Activity

tjdavis posted a video

Батальйон “МОНАКО”. Як УП знайшла елітних біженців на Лазурному узбережжі | Українська правда

З початку повномасштабного вторгнення "Українська правда" неодноразово отримувала сигнали про те що у Монако, Монте-Карло та Ніцці сконцентрувалося непристой...
5 minutes ago
Kenneth McClenton posted blog posts
7 minutes ago
tjdavis posted blog posts
5 hours ago
tjdavis posted photos
7 hours ago
FREEDOMROX favorited steve's blog post trumpy bear at the W E F all but swapping spit with the evil piece of globalist shit clouse slob the funder of the invasion of all WHITE countries
7 hours ago
FREEDOMROX posted a video

Sinister developments

If you are a citizen or resident of the UK, please sign this petition and spread the word. The deadline to sign is October 3, 2023.https://petition.parliamen...
8 hours ago
Doc Vega posted a blog post

Could this be The Best Film Footage of Sasquatch yet?

Recent film footage has come to light. Yes, I know with photo Shoppe and prosthetics you can make a…See More
11 hours ago
rlionhearted_3 posted photos
18 hours ago
steve posted blog posts
19 hours ago
steve commented on steve's blog post We don't have a problem of "guns murdering people" we have a a problem of blecks make that violent primitive blecks murdering people
"A night in jail ,one single night in jail after encouraging her violent fellow niggers to loot and…"
19 hours ago
steve commented on steve's blog post We don't have a problem of "guns murdering people" we have a a problem of blecks make that violent primitive blecks murdering people
"Look at the head on this bald headed hog with out it's "hairhat. Steve 'Chicken…"
19 hours ago
steve's 3 blog posts were featured
yesterday
Doc Vega's 2 blog posts were featured
yesterday
Burbia's blog post was featured
yesterday
cheeki kea's blog post was featured

A Jacinda Ardern COVID RANT ~ from a Jabcinda supporter no less.

Guess she wasn't expecting that. In her stupidity of relentless right wing and nationalist…See More
yesterday
Kenneth McClenton's blog post was featured
yesterday
steve commented on steve's blog post SHERIFF SHOOTS SHOPLIFTER - IF WE HAD MORE OF THIS WE WOULD HAVE LESS OF THIS - GUESS WHO?
"Be wary of niggers we must segregate https://www.bitchute.com/video/FY3x5hyvytc/"
yesterday
steve commented on steve's blog post SHERIFF SHOOTS SHOPLIFTER - IF WE HAD MORE OF THIS WE WOULD HAVE LESS OF THIS - GUESS WHO?
"Another big WHITE mama beats a nasty she boons entitled…"
yesterday
steve commented on steve's blog post Loud mouth negroe threatens big WHITE mama gets knocked into tomorrow OR civilizing the blecks in the only language they understand
"Anyone speak hoodrat,  and what fukin language is it mumbling, what the fuk is this thing…"
yesterday
Doc Vega posted blog posts
yesterday

© 2023   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted