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Federal reserve admits..."We Have No Gold!"

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Federal reserve admits..."We Have No Gold!"

Postby reddirtcoins » Wed Dec 21, 2011 8:44 am

:shock:
http://www.youtube.com/watch?v=grlljf5Y ... h_response
"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold."- Leo Tolstoy
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Re: Federal reserve admits..."We Have No Gold!"

Postby Copper_Baron » Wed Dec 21, 2011 10:16 am

That's right. The Federal Reserve does not have gold. I think it is held by the US Treasury.
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Re: Federal reserve admits..."We Have No Gold!"

Postby sparechange » Wed Dec 21, 2011 10:21 am

Why would they need gold, they have all the FRNs they can print! :lol:
Last edited by sparechange on Wed Dec 21, 2011 7:57 pm, edited 1 time in total.
Always drink upstream from politicians, they tend to foul things up.
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Re: Federal reserve admits..."We Have No Gold!"

Postby Mossy » Wed Dec 21, 2011 6:03 pm

Copper_Baron wrote:That's right. The Federal Reserve does not have gold. I think it is held by the US Treasury.

"Supposed to be held..."
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Re: Federal reserve admits..."We Have No Gold!"

Postby AGgressive Metal » Wed Dec 21, 2011 10:16 pm

I think this was already public knowledge. The Fed stores gold for the US and for foreign governments at the NY Fed in Manhatten, but it does not actually own it. Germany, Italy, and others have gold in New York - it was considered safer during the Cold War. Russian tanks could reach Frankfurt a lot faster than they could reach the Eastern US.
And he that hath lyberte ought to kepe hit wel
For nothyng is better than lyberte
For lyberte shold not be wel sold for alle the gold and syluer of all the world
-Aesop's Fables, Caxton edition 1484

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Re: Federal reserve admits..."We Have No Gold!"

Postby reddirtcoins » Thu Dec 22, 2011 7:51 am

I found most of the humor in watching the video... It's almost like to 2 sides didn't match. It was like ok, let's get up here and do this so we can show everone we are doing something. I mean Paul didn't even seem to listen to what they were saying. At least that is how I took it.
"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold."- Leo Tolstoy
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