...if it's not directly convertible to gold, and regularly spot checked by an external organization, it's all a lie.
...I mean, the comex comes to mind.
The federal reserve too. The last known gold audit was 1953: before most of us were alive. The federal reserve claims they're audited, but that's like allowing the fox to guard the hen house.
To your point, we KNOW that the FED leased out much of the gold decades ago. Gold leased out at 50-600 dollars an ounce... the banks sold the gold on the open market. If the FED were to call on those leases in order to claim back our gold, all of those banks would go under because they would have to purchase tons of gold back at 2k / ounce (and higher).
It's the game they play: they can still claim to technically have the gold, because they didn't technically sell it, even when it's not physically there, and would be impossible to get back.
Oh! I see. A jewish trick, in other words.
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