World Bank: –ALL GOLD IN FORT KNOX IS LEASED– ( & Is No Longer Included In Reserves….

[Serpo]

World Bank: –ALL GOLD IN FORT KNOX IS LEASED– ( & Is No Longer Included In Reserves…..)
October 3rd, 2013




This is big.
Really, really big.
http://data.worldbank.org/indicator/FI.RES.TOTL.CD
United States
294,045,678,447 (2008)
404,098,902,069 (2009)
488,928,295,253 (2010)
537,267,272,428 (2011)
139,133,877,266 (2012)

World bank values gold at Year-end London fix. In 2011, that was $1,531 / Oz.
The Federal Reserve says there is 241,000,000 ounces of gold in Fort Knox (& associated vaults)..
That would value the gold at $368 Billion in 2011.
In 2012, the year-end price was $1,657 yet the reserves FELL to only $139 Billion!!!!
So, for 2012 if the Wold Bank has not included Leased Gold in the foreign reserves, then the drop from $537 Bn -> $139 Bn = $398 Bn equates to ALL the US gold (remember, around $368 Bn of gold).
IT IS ALL LEASED!!!
THEY CAN’T HIDE IT FOR MUCH LONGER.

Tuesday saw 40 tons of Gold sold in 3 separate 1 minute intervals and exactly 1 minute after the pre COMEX open, again 1 minute after the COMEX open and then again 1 minute after the London morning fix. These sales accounted for over $27 of the $40 loss.
Another ‘rational’ seller at work, trying to get the most $$$ for their paper gold:
08h00: 120 Dec. contracts traded
08h01: 4,531 Dec. contracts traded
08h30: 594 Dec. contracts traded
08h31: 8,175 Dec. contracts traded
10h00 : 284 Dec. contracts traded
10h01 : 1,738 Dec. contracts traded
these volume selling spikes correlate PERFECTLY with the price drops…
http://i.imgur.com/wBgPop9.jpg
Today’s $30 up move has had not one single outsized volume “minute” of trading other than 1 minute overnight that saw selling, not buying. Just steady buying.

LEASING IS A SCAM!
When gold is ‘leased’, someone else (Usually a bullion bank) takes delivery and SELLS the gold.
(ASIDE: why do this? — because they get the $$ in from the sale and buy an asset returning e.g. 3% if they buy a Treasury Bond with the $$$. They hope to buy the gold back at the end of the lease, and will often paper-hedge the price risk.)

A person buys that gold from the bullion bank and puts it in the safe. They own it.
BUT the Central Bank also says it owns it!! Thus the gold is counted twice.
If you don’t believe me, check here at the IMF:
http://www.imf.org/external/np/sta/ir/IRProcessWeb/data/ECB/eng/CURecb.HTM
(4) gold (including gold deposits and, if appropriate, gold swapped)
http://investmentwatchblog.com/world-bank-all-gold-in-fort-knox-is-leased-is-no-longer-included-in-reserves/

[JohnQPublic]

Gold in Ft. Knox (assuming it exists and/or is not tungsten) is valued at $42/ozt.

[vacuum]

Gold in Ft. Knox (assuming it exists and/or is not tungsten) is valued at $42/ozt.

The article says it's leased, ie, it's been sold.

This is a huge story, on the order of the Libor scandal. It's so big that the only reaction to it is to ignore it.

[singular_me]

l@@K at the Chinese gold reserves!!
http://data.worldbank.org/indicator/FI.RES.TOTL.CD

[Son-of-Liberty]

I am not sure if this is proof that there is no gold in fort knox. What it is proof of though is that the US does not have 8000 tons of Gold any more.

When I followed the link what I did notice is that due to the steep drop of US reserves they are pretty pathetic compared to many other countries.

2011 the only countries with greater reserves were China, Japan and Saudi Arabia.

2012 added to that list Algeria, Brazil, Hong Kong, India, Korea, Mexico, Singapore, Switzerland, and Thailand all now have greater reserves then the US.

[Son-of-Liberty]

Gold in Ft. Knox (assuming it exists and/or is not tungsten) is valued at $42/ozt.

Do you have proof of that?

[Horn]

l@@K at the Chinese gold reserves!!
http://data.worldbank.org/indicator/FI.RES.TOTL.CD

Those aren't gold reserves, those are dollars including gold.

[singular_me]

ooops... correct... but still...

[Son-of-Liberty]

2012 added to that list Algeria, Brazil, Hong Kong, India, Korea, Mexico, Singapore, Switzerland, and Thailand all now have greater reserves then the US.

Forgot to add the Russian Federation to that list.

[palani]

Do you have proof of that?

http://www.federalreserve.gov/releases/bulletin/1208assets.htm


1. Gold held "under earmark" at Federal Reserve Banks for foreign and international accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold stock is valued at $42.22 per fine troy ounce.


3. Held in foreign and international accounts and valued at $42.22 per fine troy ounce; not included in the gold stock of the United States.

[Son-of-Liberty]

Thanks Palani.

Well that disproves the article then.

Article should be titled:

US reserves drop from 4th in the world in 2011 to 13th in the world in 2012.

[palani]

Thanks Palani.

Well that disproves the article then.

Article should be titled:

US reserves drop from 4th in the world in 2011 to 13th in the world in 2012.

You don't find it odd that the Federal Reserve (a private entity) is making reports on the status of U.S. gold reserves? Isn't that a bit like me (a male) complaining about the cleanliness of the ladies necessary room?

[Horn]

http://www.youtube.com/watch?v=qs-ANd7ZncQ