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<p>[QUOTE=&quot;V. Kurt Bellman, post: 2530309, member: 71723&quot;]Real nice misapplication of facts there, Dan. Yes, some central banks are indeed increasing gold holdings. But the United States central bank, the Federal Reserve, is neither increasing nor decreasing theirs. They had <b><i>zero gold </i></b>five years ago and they have <b><i>zero gold </i></b>today. The Federal Reserve holds no gold, unless you mean in the physical &quot;yes we&#039;ll store it for you&quot; sense. The basement vaults at the New York Federal Reserve bank are well rented. All U.S. gold reserves are held (owned) by the Treasury Department of the U.S. Government, not the Federal Reserve. Yes, you can quickly walk from one building to the other, but they&#039;re not the same thing. Some world central banks need to hold gold as a part of their assets, because not every economy deals in the foreign exchange market, only the biggest do.</p><p><br /></p><p>Also, as a percentage of their balance sheets, the amount of gold central banks hold now is near an all-time low. Have the stockpiles increased? Sure, but more slowly than other asset classes.[/QUOTE]</p><p><br /></p>

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