10 Feb Where’s the gold?
During the late 1920s, the German Reichsbank President Dr. Hjalmar Schacht visited his friend, Benjamin Strong, then president of the New York Federal Reserve Bank and he was given a personal guided tour of the vaults of the bank by Strong. – (In the 1920’s several nations voluntarily or involuntarily agreed that all the most significant supplies of gold and silver in the world were turned over to the Federal Reserve and Bank of International Settlements and “blacklisted” — that is, taken off-market. (see other post)) Schacht tells us in his autobiography: “While the staff looked to the hiding place of the Reichsbank gold we went through the vaults. We waited several minutes; at length we were told: “Mr. Strong, we can’t find the Reichsbank gold.” Strong was flabbergasted but I consoled him. “Never mind: I believe you when you say the gold is there.” Even if it weren’t you are good for its replacement.” – p.245 Hjalmar Schacht, Confessions of the Old Wizard.
In July 2011, DER SPIEGEL reported that Bundesbank employees had physically seen the gold in New York within the previous six months. However, the last time it had been checked before that was in June 2007. Gauweiler doubts that the Bundesbank would have immediate access to all its gold if necessary, suggesting that part of the gold may have even been lent out — a claim that the Bundesbank rejects. -http://www.spiegel.de/international/germany/debate-breaks-out-in-germany-over-foreign-gold-reserves-a-833289.html