Paul Craig Roberts - The Entire U.S. Gold Hoard Is Now Gone

Let me reiterate:  Dr Roberts is the former Assistant Secretary of the Treasury.  He's no alarmist.

I've posited many times that whatever gold is left in the Fed's vaults has either been leased or outright sold multiple times to multiple parties, the definition of rehypothecation.  It's analogous to mortgaging your home 100 times, a fraudulent re-use of collateral.  You may have heard the phrase "fractional reserve system" in banking circles, which is problematic in itself.  But at least in banking, they leverage up with paper.

With the proliferation of fractional reserves in the gold market, for every one ounce of physical gold, 100 ounces are traded in paper markets.  Paper markets include the futures exchanges, ETF's, certificates, unallocated storage, forward contracts, etc.  Which means millions of owners think they own gold, but actually do not.  Even physical gold stored in bank vaults isn't safe from counterparty risk (or bank holidays).

If you must store it outside your home, consider custodial vaults domestically and offshore.  They aren't subject to banking laws (and potential confiscation).

Gold is not a piece of paper or a certificate.  Gold is gold.

Know what you own.

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