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<p>[QUOTE=&quot;fatima, post: 1264610, member: 22143&quot;]See my post above.&nbsp; The gold assets the Federal Reserve holds are gold certificates from the US government that are covered by the gold in the US Treasury Depository in Ft. Knox.&nbsp; The Federal Reserve holds no physical gold that it actually owns.&nbsp;&nbsp; The gold that is in its basement in NY belongs to other countries including large economies such as that in Germany.&nbsp; &nbsp; As I stated in another topic, they perform gold swaps amongst themselves (other central banks) where the details are not disclosed. </p><p><br /></p><p>The Federal Reserve has no need to redeem the gold certificates.&nbsp; It has no need since it can print all the money it wishes out of thin air.&nbsp;&nbsp; The reason it was setup this way was a FDR/Banker slight of hand.&nbsp;&nbsp; The Federal Reserve printed $20 dollar bills.&nbsp; The citizenry however mostly used $20 1 ounce gold coins (certificates) for commerce.&nbsp; This caused a problem for FDR who could not print money for his social programs as there was no gold to backup the convertible FRN.&nbsp; So FDR seized all the gold at $20/ounce.&nbsp; You turned in your $20 gold coin and got back a freshly printed $20 FRN.&nbsp; After all the gold was collected, FDR sold this gold to the Federal Reserve at $35/ounce.&nbsp; &nbsp; </p><p><br /></p><p>Effectively this devalued the USD by 70%.&nbsp; Because it now took $35 to buy the same items that it once took $20 to buy it was a big reduction in the standard of living and many who understand this would say this was the primary reason of the hardships of the 30s.&nbsp; &nbsp; The devaluation gave FDR all the money he needed to start his massive government spending programs.&nbsp; &nbsp; They still had the problem with silver convertibility, but this would not manifest itself until decades later.&nbsp;&nbsp; So from 1933 on, American&#039;s standard of living was decreased by 70% due to this currency manipulation/debasement.&nbsp;&nbsp; It took this convoluted arrangement to seize wealth from the common American in order to pay for the excesses of the US Stock Market/Finance Industry of the 1920s.&nbsp; </p><p><br /></p><p>Almost all of this disappeared into history due to deliberate obfuscation by the government that has lasted for decades.&nbsp; It would have stayed lost except that the Internet has made it available again for those who wish to look for it.[/QUOTE]</p><p><br /></p>

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