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Does the US Still Have
Its Physical Gold Reserves?




According to a Hungarian site - Conclude.hu's article (in Hungarian), the USA "is worried about its gold reserves".

According to some, the USA's over 8,000 ton gold reserves should be audited by an independent entity in order to avoid further misleading and fraud.

The Conclude.hu article is telling us that the United States has had 261 million ounces of gold on December 31st, 2012 - according to official records.

According to the same documents, the bullion is stored at the following locations: Denver, Fort Knox, West Point and the New York Fed vault.

The last official verification of the gold bars had been effectuated in 1953 (60 years ago!).

Recently Prime Values published an article about the German gold repatriation initiatives.

For many years, there were voices doubting that the US really has the amount of physical gold that's published in the official records.

Germany wanted to audit their gold held at the Federal Reserve's vault, but allegedly they were refused. The Fed only allowed them to verify a small amount of their gold. Therefore, Germany decided to withdraw half of their gold holdings (totaling 300 tonnes). More countries followed Germany's move (Switzerland, the Netherlands, Ecuador etc.).

Panic might break out among countries keeping their gold at the Fed's vault. What if the Fed doesn't have the gold holdings? They might rush to withdraw (similarly to a bank run), for fear of remaining without any gold at all. If part of the gold is really missing than those who are first will be able to withdraw, while the last will remain "empty-handed".

Conclude.hu is telling us that "it was Germany that started the avalanche" of withdrawal.

Many US citizens are worried about the US' gold reserves as well, therefore they started a petition, which has already been signed by over 5,000 people until early 2013.

The Conclude article calls the petition "without any chance", because it gathers signatures for the reintroduction of the gold standard.

Many believe that a a new gold standard could stabilize the economy. Unfortunately for that to happen, the overvalued fiat US dollar would have to be devalued.





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