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<p>[QUOTE=&quot;Cloudsweeper99, post: 1016714, member: 3011&quot;]I want to correct your errors, not because I think I can convince you, but to protect others.&nbsp; You said, &quot;One more time, central banks don&#039;t use the confetti money they produce <b><i><u>to settle payments amongst each other</u></i></b>. They have to use real assets backed by real collateral and gold is is one of the universal accepted currencies accepted for this purpose. &quot;&nbsp; This is definitely implying that gold is used to settle payments between central banks, just as I quoted you saying.&nbsp; The second error is in stating that the Fed owns the gold in Fort Knox.&nbsp; Fort Knox is the US government gold depository and the gold is owned by the Federal Government and can be used any way they see fit.&nbsp; It is not available for use by the Federal Reserve as a monetary reserve, which keeps a lot of the gold they own in the basement vault of the New York Federal Reserve building and other locations.&nbsp; Gold doesn&#039;t matter in the sense that the currency is neither backed by nor convertible into gold.&nbsp; This doesn&#039;t mean it isn&#039;t an asset of the US government [and everyone else who holds it], and is therefore secured.&nbsp; You need to do a lot of research on this subject before earning the right to make pejorative comments to others making factual statements.</p><p><br /></p><p><a href="http://www.fms.treas.gov/gold/current.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.fms.treas.gov/gold/current.html" rel="nofollow">http://www.fms.treas.gov/gold/current.html</a>[/QUOTE]</p><p><br /></p>

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