There has been much chatter about US gold reserves and German gold reserves. If this Western dog-and-pony show is a strategic geo-political bluff to China, then China may be calling the bluff with their new oil for gold-backed yuan…

Jim Rickards is calling gold more than just money, and the two very real things in this post title only require the stroke of a pen. Is Jim broadcasting a message to the banks, governments, goldbugs, and silverbugs alike?

Monday, Tuesday, Wednesday, Thursday, and now TODAY. There are no ladders long enough for the Fort Knox Gold Hole that just keeps getting deeper and deeper. Furthermore, gold & silver have already recovered from the price smash just 30 minutes ago…

We’re talkin’ #00 buckshot from ten feet blown out of the water. Fund Manager shreds Jim’s claims from the military inconsistencies to the paper-leasing shell game. The Fort Knox Gold Story is getting deeper and deeper, and we’re quite sure this is the exact opposite of what they want

“Paint by Numbers” quickly reveals the picture, and after the Epic Fort Knox Mnuchin Fail, Today’s German Faux Pas seems like they are getting their paintings from the dollar store…

gold vaultThe US Treasury, on behalf of the US Government, claims to own 261,498,926.230 fine troy ounces of gold, which is equivalent to 8133.5 tonnes of gold.
The reason for emphasizing that these gold reserves are “claimed” to be stored where the US Treasury says they are stored is that none of the US gold reserves has ever been independently physically audited…

The lawful owner of the 8,134 tonnes of official gold holdings of the United States is the US Treasury.  The Federal Reserve handed over the official gold reserves to the Treasury in 1934 and in return received gold certificates – which, by the way, are not redeemable for gold, only for dollars, but that’s not the point now. The point is these gold certificates are still valued on the Fed’s balance sheet at $42.22 an ounce.
The free market price of gold is currently about $1,200
.  The reason the US capped the value of gold on their books at $42.22 in the seventies is because they wanted to phase out gold from the international monetary system to increase the power of King Dollar; denying the true value of the yellow metal supported this ambition.
And so the Fed pretends until this day gold is worth $42.22, all in an effort to make us believe in the strength of the dollar. However, the US can’t pretend forever the price of gold is $42.22…

In 1950 the US owned about 20,000 metric tons of gold – approximately 640,000,000 troy ounces.
By August 15, 1971 when President Nixon “temporarily” closed the “gold window” that hoard had decreased to about 8,100 tons (Fort Knox, the NY Fed, and other locations).
The US government had been overspending, exporting dollars oversees, and other governments had “cashed in” those dollars for gold.
Forty three years later (since August 15, 1971) the “temporary” policy is still in place, the US government has officially redeemed no dollars for gold, and the US economy has deteriorated.

gold bars knoxRon Paul, who was a a well informed member of the US House of Representatives in 2011, proposed new legislation at the time to have yearly audits of the US official gold reserves: The Gold Reserve Transparency Act (not enacted).
Only during the preparation of the congressional hearing Dr Paul became aware there had been yearly audits in recent decades. Strangely the biggest proponent of a gold standard in US politics didn’t have access to this information prior to the investigation.

Thanks to a tip from an SD reader, we have discovered the US’ official bar list of “Deep Storage Gold”  held at Fort Knox, Denver, and West Point, buried in a PDF file on the House Financial Services website.
Updated on Sept 30th, 2010, the document provides a full bar inventory including total bars, weights, and fineness of the US Deep Storage Gold reserves.  

For all those inquiring minds wondering how much if any of the US’ gold reserve remains, the official US Deep Storage Gold bar list is below:

gold vaultAt the recent Whitman Expo in Baltimore, former US Mint Director Edmund C. Moy who ran the mint from 2006-2011 opened up on visiting Fort Knox during his tenure as Mint Director.
Is there really any gold left in Fort Knox?  Mr. Moy’s first thoughts on viewing the inside of Fort Knox:
These bars at Fort Knox look like dirty gold…One of the first things was, Is this real gold?
Former Mint Director Edmund Moy tells his story and reveals what he saw with his own eyes when he toured the mint in the MUST WATCH clip below:

NY Fed goldNational Geographic has released an intruiging documentary inside some of the world’s largest and most secure vaults- including the NY Fed’s gold vault:
For over 80 years, armoured cars have navigated Manhattan’s narrow streets carrying millions and sometimes billions in gold deposits- in and out of the one bank trusted enough to guard almost one-quarter of the entire world’s gold supply.  You heard it right.  Nearly 25% lives here at 33 Liberty St.  

The cameras roll following a $55 million gold delivery into the NYFed, and 5 floors below street level onto the Manhattan Island bedrock itself.

Between the Treasury Dept’s recent release of their internal gold audit of Treasury gold held at the NY Fed and the following propaganda video tour, The cartel doth protest too much methinks.

National Geographic’s full documentary on the NY Federal Reserve Gold Vault is below:

300px-Fort_Knox_tankSubmitted by Bill Holter

We “purport” to have just over 8.000 tons of Gold.  For round numbers this is valued between $400 billion and $500 billion.  The Fed has in place (probably clandestinely much more) a plan to purchase $85 billion per month of Treasury bonds that the Treasury must issue but nobody else wants to buy.  $85 billion times 12 equals $1 trillion two hundred 60 billion.  Numerically it is $1,260,000,000,000.  The Gold “reserves” (probably close to mere fumes by now) represented the wealth accumulated by the greatest industrial nation on Earth.  It took roughly 170 years to accumulate some 20,000 tons after WWII which was “officially” sold down to just over 8,000 tons by 1971. 

Fast forward to present day and what are we doing?  We are spending ALL of our Gold every 6 months!  And this assumes that we have the Gold!   The real number is probably 500 times over if you use actual debt.  The number is an “infinite” amount of times over if (it is) the Gold is gone.