An article, authored by Katy Burn, for the WSJ, “6,200 Tons of Missing Gold?”, and transmitted through Fox News, reached out to some of the most studied people in the world about gold being stored in the FRBNY, one would presume, to gather some insight as to the gold being stored in this location. Why is the mainstream media reaching out to people that are known
The article begins with Ronan Manly and right from the start it seems like a story that would never see the light of day in mainstream media.
The Fed tells visitors its basement vault holds the world’s biggest official gold stash and values it at $240 billion to $260 billion.
But “no one at all can be sure the gold is really there except Fed employees with access,” said Ronan Manly, a precious-metals analyst at gold dealer BullionStar in Singapore. If it is all there, he said, the central bank has “
Is the mainstream media attempting to paint alternative financial news writers
Other theorists suspect the gold beneath the New York Fed’s headquarters at 33 Liberty St.
In 2009 we learned there were some very questionable scenarios that played out involving the Federal Reserve and our national gold. Rob Kirby, Kirby Analytics, pointed out the very distinct possibility of 640,000 400/
The author turns to John Embry, one of the most respected voices in the precious metals space, to get his take.
“The gold price didn’t act right” during the time he was watching it and the likely explanation for the movement was Fed action, said Mr. Embry. Source
It is a well documented fact the Federal Reserve, in conjunction with the U.S. Treasury Department, utilizing the highly secretive Exchange Stabilization Fund (ESF) has the authority to interject in any market, at any time anywhere on the planet with absolutely no oversight or regulation. Combine this with President Reagan introducing the “Working Group on Financial Markets” better known as the “Plunge Protection Team” and it should be clear to anyone since 1988 the “markets” have been completely manipulated or said another way – rigged.
When Mr. Embry makes a comment like “the gold price didn’t act right” which is taken out of context with no follow up or another word from Mr. Embry, you can rest assured he was watching a market that was moving up and down in ways that would not be considered “natural market movement”. There is a difference, that can be seen, between
If you have been analyzing precious metals markets for more than 40 years, as Mr. Embry has, you should have developed an eye for market anomalies. If not, you probably wouldn’t be in any market for 40+ years! This point is completely negated by the author since there is no follow-up of any kind, while taking the statement out of context.
At this stage of the article it becomes
Elaborate theories build on what the Fed doesn’t say about
It doesn’t report when bars enter or leave and doesn’t let in outsiders — other than auditors and account holders — to count the bars or review
Visitors on vault
The author does admit the gold
When people are left with little or no information regarding a subject as important as our national gold and the size of 8,100+ tons of gold, it is human nature for the mind to ask questions and for intelligent people
“All you see is the front row of gold bars,” said James Turk, co-founder of Goldmoney, a
Mr. Turk, based in London, believes much of the gold has been “hypothecated,” or lent out to other parties, and then rehypothecated, or lent to multiple parties at once. In doing so, he says, “central banks actually own less gold than people believe.”
Some gold bugs — investors bullish on the yellow metal — think the Fed secretly lends it out to suppress prices, partly to protect the dollar’s value. In theory, the Fed can feed gold into the market through swaps with other countries.
James McShirley, who owns
The Federal Reserve leasing/swapping gold with foreign nations is not a theory, it is a fact, as confirmed by GATA in 2009.
The Fed’s September 17 letter to GATA confirming that the Fed has gold swap arrangements can be found here:
While the letter is far from the first official admission of central bank scheming to suppress the price of gold (for documentation of some of these admissions, see http://www.gata.org/node/6242andhttp://www.gata.org/node/7096), it comes at a sensitive time in the currency and gold markets. The U.S.
It really doesn’t require a lot of brain power to understand why people, the world over, are turning away from mainstream
“I think the gold they have there is real gold,” he said [James Turk], “but until you do random sampling you don’t know for certain.”
In a 2012 audit of U.S.
Since then, annual government audits of the Fed’s vault have inspected only the locks and joint seals on the compartments to check they haven’t been tampered with, a Mint spokesman said. Source
Is it too much to ask to see my property? Is it too much to ask to have a full, independent audit of my property? When this question was recently
The WSJ author demonstrates a slant to discredit some highly respected voices in the precious metals space, but, at the end of the day she only discredits herself by showing her utter contempt for conducting research.
- Source, Gold Seek Radio