Published On: Thu, Apr 18th, 2013

Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults

Dr. Long Xinming (nsnbc),- The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.

The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.

Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.

They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.

There has been speculation for a long time, that the FED doesn’t actually have much gold, that it has either sold it off, lent it out, or used it as collateral for borrowings. Either case, there are many claims that the gold that is being stored on behalf of many nations, doesn’t actually exist.

And nobody, other than FED staff, have actually been permitted inside the vaults to see or inventory any of the gold. There is no evidence that the gold actually exists, other than the word of the FED.

Even more, the situation is the same with the supposed gold depository at Fort Knox. Nobody has seen the gold there for a very long time.

The last audit, and the last public visit, was in 1953, just after U.S. President Dwight Eisenhower took office. No outside experts were allowed during that audit, and the audit team tested only about 5% of gold there. So, there hasn’t been a comprehensive audit of Fort Knox in over 60 years.

In 1974 six Congressmen, one Senator and the press were allowed to enter Fort Knox to see for themselves if the gold was there or not. The tour showed that there was gold in Fort Knox but, all the same, it sparked even more controversies.

Only a small fraction of the gold reserves were made available for viewing, and one Congressman published a report saying that the gold bars held in the fort may have been less heavy than would have been expected.

During the past two years, several US politicians have claimed that there is a high chance that neither Fort Knox nor the FED have any gold, or perhaps only a very small amount, and have demanded a full and public inventory and testing, but the FED have resolutely refused.

I have no idea what to make of this. There was another incident last year when Goldman Sachs were proven to have been selling gold certificates to the public, ostensibly backed by real gold in their vaults, but the story leaked out that they in fact held no gold at all, and were doing “fractional reserve” gold banking, on the basis that few people would want to claim their gold at any one time.

Even worse, Goldman were charging customers storage fees for the gold that didn’t exist. Also, do you recall the information I circulated around the middle of last year, documenting the immense gold theft the FED pulled on much of the world during WW II?

The FED came to all countries in Asia, Latin America and Africa and told them their gold holdings might not be safe because of the war, and they should permit the FED to take all of it to the US for safekeeping. Many countries obliged, receiving FED gold certificates in exchange, but when they later tried to cash in those certificates and reclaim their gold, they were told the certificates were fake, that they contained spelling and other mistakes which the FED would never have made, and that the serial numbers were wrong. And the FED still has all that gold.

They even did that to Chiang Kai-Shek, taking all of Taiwan’s gold – that had been looted from China – and never returning it. The last I heard, Chiang’s wife was still trying to recover her gold from the FED.

Apparently a few people have been successful in presenting their certificates to the FED, with documentation that was irrefutable, but even in those cases the owners were forced to settle for only 1% or 2% of the actual value. And most other people or nations who attempt to redeem these certificates are arrested by the FBI for fraud – at the request of the FED.

Late last year, a Canadian businessman had some of these certificates and tried to use them as collateral for a loan, and the FED had him arrested, extradited to the US, and charged him with fraud. Insiders claim this is common practice to frighten every one away.

US Gold ReservesI’ve inserted here a graph that shows the increase in the FED’s gold supply during the war. It also shows the amount decreasing heavily later, so perhaps some of the gold was returned, but it appears there was a great deal that never was.

For many years after the war, the FED denied these transactions and even denied the existence of these certificates. But a crashed US military plane was found in the Philppine jungle with heavy wooden boxes full of metal containers, all with FED markings, and all containing hundreds of billions of dollars of these same certificates. That was when the entire story finally became public, but the Western media have never cared to report on it.

I have many photos of the content of that aircraft, of the boxes and the cans and the certificates, if anybody cares to see.

Some people claimed this was a CIA counterfeiting operation supported by the US government, as an attempt to just steal the gold from many poor nations.

___

Dr. Long Xinming is the founder and senior editor of bearcanada.com. He is a frequent contributor to nsnbc international and our partner media The 4th Media in Beijig.

Follow-up articles:

Mystery about Germany´s Gold in the US Solved

Germany’s Gold and the FED for Dummies

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About the Author

- nsnbc international is a daily, international online newspaper, established on 25 February 2013. nsnbc international is independent from corporate, state or foundation funding and independent with regards to political parties. nsnbc international is free to read and free to subscribe to, because the need for daily news, analysis and opinion, and the need for independent media is universal. The decision to make nsnbc international freely available was made so all, also those in countries with the lowest incomes, and those inflicted by poverty can access our daily newspaper. To keep it this way however, we depend on your donation if you are in a position to donate a modest amount whenever you can or on a regular basis. Besides articles from nsnbc's regular contributors and staff writers, including it's editor and founder, Christof Lehmann, it features selected articles from other contributors through its cooperation with media partners such as Global Research, The 4th Media, Aydinlik Daily, AltThaiNews Network, New Eastern Outlook, The Cairo Post and others.

Displaying 36 Comments
Have Your Say
  1. www says:

    America – good people sick country. when this sick bubble will break?

    • Mark says:

      Ewwww…. how gross the mess will be when this bubble bursts!

    • X.S. says:

      As an American, I can tell you that the large majority of Americans are NOT good people. They are shamefully, intentionally and stubbornly ignorant as well as criminally negligent, complacent, over-eating, mindlessly patriotic, slavish contributors to the economic and military assault on the globe in their name by foreign bankers and the military industrial complex. Most of us are unwilling to look away from the rancid garbage being force-fed through the television long enough to pick up a book or learn anything beyond what we are supposed to accept and believe unquestioningly. The majority of us are so selfish, cowardly and lazy that we will not lift a finger to stop the destruction of civil liberties, human rights, and economic equity that is being perpetrated by sociopathic, supranational corporations via the facade of our elected, governmental pawns both here and abroad. Some of us are good people, but most of us deserve exactly what the near future has in store for us, and, sorry to say, it’s not pretty. 

      • Kayla says:

        I disagree, the majority of the people in my area are very good people. I live in the north eastern area of Washington state. I would say that most understand how corrupt our government is, but they feel helpless; the vote on the western side of Washington doesn’t count for anything, because of the electoral college. The coast always votes the opposite of the people on this side of the state so we get an ass who votes for us, whom the majority of my county and surrounding counties disagree with.

        The people in the small towns are friendly and go out of their way to help each other. I don’t know if this is different in bigger cities and other areas, but I love the people around me, and hope they don’t suffer because of our criminal government.

  2. vassili says:

    Imagine the loss of confidence in the US as a safeheaven, the drop in the stock market, and the retributions if it were to be found out that some of the gold held is actually gone, sold. The consequences of such a ponzi scheme would be enormous forcing the hand of the FED to hide it at all costs.

  3. John Snow says:

    The Winter is Coming…

  4. Bill says:

    If you paid someone to store your car and when you wanted it back they said you would have to wait 2 years and when you wanted to see it they showed you a hubcap would you not know what to make of that either?

  5. gary sco says:

    Careful Dr. Long, presidents’ have woken up dead in Dallas for exposing such stories

    • Huxley says:

      Woken up dead?

      • nsnbc says:

        Maybe the article is worth waking up to, even if one is dead. It has been read by more than 46.000 people so far, just today – besides that, we are always happy to wake up the public, which has been lulled into a dead-like sleep by mainstream media. Maybe that is what got him to write “woken up dead”. ;)

  6. Jack says:

    The damaged or destroyed original certificates lost in the basement of DTCC in the Sandy Storm are coming home to roost.
    Estimates as high as $37 trillion were lost or destroyed.
    Costs to replace ran into $50+ billion.
    Who will foot that bill?

  7. This one can name a theft- or am I istaken?? But FED is allowed- as it seems- everything. In normal society it could come before a court and the gold has to be given back to his owner. But in society, which has stolen from Lybia more hundred billion dollars(USD) and did not even apologised for it- it seems to be normal.

  8. TruthandFreedom says:

    The crooked FED and Banksters should be held accountable for THEFT and prosecuted!!! To include Kissinger, the rockerfellers, jp morgan, and the bilderberger crew! All should be prosecuted by a world court system… have there families stripped of all their wealth and thrown to the public who are just as enraged as these countries!

    • Steve says:

      I think we need international jurisdiction in sovereign nations who act in solidarity rather than a World Court System like the special tribunals or ICC who do not even have standing according to international law.

      But that said, I agree, and you maybe should start collecting names, addresses and other personal data for citizens arrests – the day may come sooner than many may think.

  9. Vincent says:

    I like your articles

  10. Yan says:

    WOW !!!! every time we think we’ve seen it all, it gets worse !! I was laughing throughout the entire reading thinking really ?? Goldman Sachs is STILL in operation after everything they did !!?? The Fed runs on empty and nothing gets done !!?? Can’t wait to see the next chapter of this intriguing yet so very funny slapstick show !!

    • Yan. – One of the next chapters in this slapstick show, as you call it will be, what is called a “permanent backwardation” in the gold market. That is, when the trust in fiat currencies has become so low, that nobody who has gold will be willing to sell it at any price. The result of that situation, if it occurs, will be that trade, worldwide, grinds to a hold, and that the only way of trading that is still possible is by barter. In other words, we will then experience a total collapse of the worlds economies, trade, and societies. – Happy reading slapstiks. Meanwhile, if you want to spare yourself and your loved ones of laughing yourself to death when the crisis sets in, the best thing you can do is to begin organizing, informing friends and family, colleagues, confront your elected officials,etc… And a good start is getting a free subscription for nsnbc international (bottom left of this page), and to tell your friends about us. Happy Slapping and Sticking. Christof

    • lunkster says:

      The next chapter Yan ? There is no next chapter. The next page however is “The End”

  11. John says:

    I again am ashamed of America
    Obama and congress now are stealing from Germany
    Next they will steal lollipops from toddlers.

  12. Dam Spahn says:

    What the hell were the Germans thinking? Boy, did they trust the wrong people.

  13. Alkid says:

    You know the whole “If you did nothing wrong, you have nothing to hide”?
    Well, it should apply to major institutions like Fed, Government, and Corpos, and major religions.
    Also, in that vein of thought, is the Fed up to no good, since they’re stubbornly refusing to be audited?
    Well, this shouldn’t be much of a brainer.

  14. sc says:

    No wonder Jim Roger said dont put your gold in bank… Now i get it

  15. Phakamile says:

    Very soon our minerals will remain here in Afrika first blacks only stock exchange in free Zimbabwe more is still to come. IZWE LETHU!

  16. Robert says:

    Trust should have never been put into a so-called government entity as the Federal Reserve. I am ashamed to acknowledge the institution is American.

    • Dear Robert.
      Being a German citizen, let me tell you that I appreciate the position you are taking, not to point fingers but because, opposed to pointing fingers at illusive cabals, your position makes problem solving possible. My take on this:

      1) The American People and their lawful government were not even asked. Arguably, the FED was established illegitimately. That, arguably, exempts you (the people) from guilt and there is no reason then to be ashamed.
      2) Taking that position then also enables you to begin taking back your government and your country and to bring the FED and those parts of your government that violate law back into compliance with the law. Here, we can rightfully talk about a cabale, a cartel, that you need to face in order to succeed.

      If you, that is the American people do that – without feeling guilty – but recognizing that you are victims too, I guaranty you as a German citizen, that you have my full and unequivocal support, and I believe that I can say that for the majority of my compatriotes. We either fall or stand together. Thank you for reading nsnbc international – by the way.

    • Bill K. says:

      Robert, the problem is the FED is not part of the government. They are a group of private banks that “create” money out of thin air and then charge the government (U.S. people) interest.

      They and other private banks have destroyed the world for every day people.

  17. Donald Black says:

    There is a petition on Credo to audit the FED, including its holding of precious metals. Here is the link:

    “””http://www.credomobilize.com/petitions/audit-the-federal-reserve”””

  18. norm buick says:

    its as simple as this after ww2 the usa found it in a unfamiliar position of being the worlds strongest power. and no change in sight…….. I think the real reason this gold edded up in fort knoks is siply that they usa wanted to be paid at least inpart for the cost of there expenditures of ww2…. and then over the years this happened that happened .. who knows what left .. that is the real facts of it all. and now the partys over and everbodys hung over…. when it was realised they couldn’t pay the taxi home etc etc … ill stop there …

  19. Steve Wells says:

    If you think this is bad, wait intill this planit runs out of gold to mine, witch is nearing its end. Then we will need to start colecting widgets for the federal Reserve.

  20. bob says:

    Everyone must read “Fifty Years of the Deep State” by Mark Gorton, on Bloomberg last Friday – but will not be found there today it explains how 50 years ago HW and the CIA, killed JFK in a Coup because he wanted to abolish the CIA and the FED, and how things have continued till today with corporate America calling the shots…

  21. Evangelical says:

    Why does the Gold have to be presumed gone? The most likely answer is the US doesn’t want to lose leverage over Germany (it already lost leverage over France a pain in the
    @ss…)…

    So rather than give them the Gold it just beats around the bush trying to keep them under the thumb as long as possible.

    What has the US done with this borrowed time? It forced Germany to support Libya, Ukraine and now bombing Syria…all of which were or are around tempted Gold thieving operations.

    As long as Germany has half their Gold in the US they can’t tell the US to F off.

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