In the eyes of TPTB, it is one thing when a fringe financial blog such as SilverDoctors reports on and discusses the fact that the gold reserves supposedly held 5 stories below the NY Fed are likely rehypothecated and vaporized long ago. It is another thing entirely when the former top personality on Fox News, and whose news website The Blaze is the 140th most visited website in the entire US, devotes 20 minutes of TV time discussing the German’s attempts to repatriate their gold reserves, and discusses the implications of what the Fed only returning 37 tons of re-cast gold bullion to the Bundesbank in year 1 likely means.
In Glenn Beck’s own words: “The situation is worse than even I thought it was….There’s not alot of that gold (at the Fed) really left. The answer is rehypothecation.
How hard is it to return the Bundesbank’s gold? It has their stamp on it! The reason the German gold is being returned over 7 years is that a phone call came in to the Germans and said ‘Hey, Rehypothecation, Dude! There’s not enough gold here! We were playing a game!’
Once people demand their hard asset back, the entire thing collapses!“
It appears the gold manipulation and rehypothecation story has just gone mainstream. [Read more...]