THE GHOST OF GOLD

 

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The gold in the vaults beneath the Federal Reserve Bank of New York is the largest gold repository in the world, the vast majority of which belongs to foreign governments, international organisations and other central banks. In recent years many international governments, such as the Deutsche Bundesbank have requested to repatriate their deposits. The 674 tonnes of gold bars, on the request of the Federal Reserve, have been scheduled to be removed gradually, increasing speculation as to how much gold the Reserve actually holds.

 

A paltry fifth of the worlds gold is held in the vaults of the Bank of England underneath Threadneedle Street in London. The Bank of England abandoned the ‘gold standard’ in 1931 and the US completely severed links between the dollar and gold in 1971.

 


Historical Gold Chart by GoldBroker.com