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No good explanation. They only had so much gold in NYC because of the small but real threat of the Soviets invading. The only reason to bring it back is the t
by mynameishere 14y ago
No good explanation. They only had so much gold in NYC because of the small but real threat of the Soviets invading. The only reason to bring it back is the tiny threat of it being stolen by the US or France.
and to have the ability to sell gold quickly If needed.
Eh, they can sell it while it's still in the vault. That's how it's always done.
- bitcartel 14y agoAnother reason is to make sure they get their gold back first, just in case there's a been a financial ponzi scheme in gold trading where paper instruments are not backed up by real assets. http://www.bloomberg.com/news/2011-12-09/hsbc-sues-mf-global-brokerage-over-stored-gold-silver-bars-1-.html http://www.bloomberg.com/news/2011-12-09/hsbc-sues-mf-global... "Five gold bars and 15 silver bars underlie eight Comex contracts between the brokerage and its client Jason Fane of Ithaca, New York, the unit of London-based HSBC said in a court filing yesterday. Both parties have asserted claims to the bars, creating difficulties for HSBC, which is storing them, the bank said. HSBC asked a judge to decide who the rightful owner is."