This past weekend, while addressing the CPAC conference, President Donald Trump announced that he would authorize an audit of America’s gold holdings.
The Federal Reserve Board (the Fed) are custodians of the gold holdings of the U.S. government’s treasury.
In 2021, the Fed "claimed" that it held ("held," not "owned"!) a total of 8,133.5 metric tons of gold, or some 147.3 million fine troy ounces, the universal standard measurements of physical gold traded, mainly in the world’s central bullion market in London.
Apparently, the Fed holds some 4,582 tons, 56.3% of its gold, in Fort Knox; with 20.7% at West Point and in the vaults of the New York Fed, through which most international transfers are handled; and 16% at the Denver Fed; with the remaining 7% at other Fed offices within the United States.
Central banks are the largest and most secretive holders of gold. This makes determining exact figures and transactions remarkable difficult.
Of great concern is the record imbalance in the international center for "paper gold" contracts, based in Chicago. Apparently, the value of "open" gold contracts traded in Chicago, is some 10 times the total dollar value of all known gold.
In recent years, rumors have abounded that: much of the United States gold has been leveraged and leased out including to major banks, the "Gold Banks," operating in the gold market covertly, allegedly to depress the free-market gold price on behalf of the Fed.
Gold remains the most direct and politically embarrassing indicator of inflation and fiat currency debasement. Politicians want to keep the gold price down. The internet is alive with accusations of what appears as price manipulation.
The suspicions are that vast amounts of America’s gold have "vanished" from U.S. ownership in the Fed’s vaults; belong now to other countries; or have been replaced in part by blocks of tungsten, covered in a thin film of gold plate.
Perhaps the most sinister and deeply concerning evidence of this, surrounds Germany’s attempt, in 2013, to repatriate some of its 3,396 tons of gold of which the U.S. Fed, held some 45%.
The long delays, small. partial deliveries and the seemingly calculated delays as well as lack of transparency, prompted most serious questions.
Has Germany’s gold, together with that of the U.S. Treasury and other nations, been leased out to the Gold Banks to backstop losses incurred in massive, failed short sales of gold, executed to manipulate downwards the free market price globally?
Doubtless, rumors and even whistleblower evidence of this potentially macro scandal have reached the ears of President Trump and Elon Musk, both of whom are calling for an audit of the Fed.
Since 1955, there have been numerous calls for an audit of the Fed’s gold holdings and activities. All requests have been denied by successive governments. Possibly, the truth was thought too damaging to expose.
In general, I agree strongly with the Trump’s deployment of the Musk "chainsaw" to clean out government waste, abuse, and corruption.
However, the Fed and its gold management, are at the nerve center of the financial structure of the entire world.
If the current rumors about any evidence of Fed misconduct or management of its vast gold holdings, including those of other nations, prove correct and are published, it would cause a global monetary explosion.
Additionally, it would re-kindle the dying embers of the BRICS’s challenge to the massive American strategic advantage of reserve dollar currency domination.
International confidence in the entire monetary system could be blown wide open.
Gold would explode in price, but the world’s economy would likely enter a massive depression with huge, violent, and heartrending repercussions.
I expect the result of any serious Fed audit likely will be deeply scandalous.
Likely it will be bad enough to melt Trump’s "New Golden Age" before it has a chance to emerge. Therefore, it's likely in the national and international interests that any adverse audit findings should be kept secret. At least, until corrective monetary and economic have had a chance to adjust and do so in stages.
Former Conservative Member of the UK Parliament, John Browne, was a vice president of UKIP which triggered the Brexit Referendum. Graduated: RMA Sandhurst; Harvard Business School; worked with Morgan Stanley in New York. In England, formerly a governor of a school; university, and director of a bank; investment firm; hospital, and a satellite TV station. Read John Browne's reports — More Here.