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Straightforward Questions the Fed Refuses to Answer
by Dave Kranzler Investment Research Dynamics
Most people do not understand that the Fed supposedly is the “safekeeper” of the gold allegedly owned by the U.S. Treasury Department Taxpayers. But in all likelihood most if not all of that gold has been hypothecated, leased or sold outright in the Fed’s effort to remove bona fide price discovery from the gold market. As fact, the gold said to be owned by the Treasury has not been subjected to a formal and rigorous independent audit since Eisenhower occupied the White House.
GATA’s Chris Powell submitted some interesting questions – questions that should be answered but is not legally required because the Fed is a privately-owned entity, the fact of which most Americans are unaware. And, as it turns out, the NY Fed refuses to say if it been repatriating or intervening in gold. The post below was dispatched by GATA on December 2nd. I would love to know the answers to these questions but I’m not holding my breath…