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I heard a bunch of conspiracy theories about Comex warehouses and gold repositories not actually holding the precious metals that they claim. But AFAICT, the t
by neilv 3y ago
I heard a bunch of conspiracy theories about Comex warehouses and gold repositories not actually holding the precious metals that they claim.
But AFAICT, the theories were coming from political extremist influencers. (Buy these silver rounds at large premiums, so that, when the dollar collapses, and people find the warehouses are empty, and Canadian tanks roll into Washington, you'll be the alpha male.)
Would be funny if someday we learned that the demagogues were accidentally correct about the warehouse shenanigans.
- iSnow 3y agoGermany's central bank in 2013 was forced by those rumors to re-patriate a lot of gold formerly held in Paris and by the Federal Reserve in New York. So called conservatives seeded stories that the Fed had emptied the vaults and only paper remained. Of course that was all hogwash and the stuff has now partly been transferred to Frankfurt. https://www.bundesbank.de/en/tasks/topics/bundesbank-completes-transfer-of-gold-from-new-york-647150 https://www.bundesbank.de/en/tasks/topics/bundesbank-complet...
- caminante 3y agoSkimming/embezzlement happens at reserves. The Fed wouldn't even let Germany view its bars. And a partial transfer isn't a 100% verification. I like to trust people and politicians can waste resources, but that situation was weird.
- shrubble 3y agoConsider that the stated gold reserves in Fort Knox haven't been audited since the 1950s. Then-Treasury Secretary Mnuchin during the Trump administration, supposedly visited and in lieu of an actual audit, reported that 'yup it's there' ... Very reassuring!