So it’s not the Fed, although there is some paper gold on the Fed balance sheet. Legally it is the Treasury, but in terms of custody, it’s the United States Army. So that’s where the gold is."
Jim Rickards. |
Jim Rickards of King World News.
The Federal Reserve Banks have gold certificates but the US Treasury balance sheet has the actual gold and the US army has the custody of that gold, some 261 million ounces.
h/t Ian Nunn
Link: Central Banks, Jewellery and Private vaults account for the rest of the world's gold.
h/t Ian Nunn
Link: Central Banks, Jewellery and Private vaults account for the rest of the world's gold.
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