Friday, August 3, 2012

What's in your vault? Uncle Sam audits its stash of gold at the New York Fed

Gee, are us conspiracy theorist gold bugs supposed to breathe easier now?  The gold under the New York Fed and Ft. Knox may be there, but how times has each bar been re-hypothecated?  How many ounces of paper gold have been traded against physical inventory?

And the US Treasury is performing the audit?  I'm feeling warm and fuzzy already.  Investigative journalism at the LA Times = massive fail.

http://www.latimes.com/business/la-fi-gold-bars-20120803,0,5461335,full.story

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