Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults

Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults
 

The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.
The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.
Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else.
They apparently came a second time, and the FED did open only one of 9 rooms and let the Germans look at the stack of gold, but were not permitted to either enter or touch. And they returned home.
There has been speculation for a long time, that the FED doesn’t actually have much gold, that it has either sold it off, lent it out, or used it as collateral for borrowings. Either case, there are many claims that the gold that is being stored on behalf of many nations, doesn’t actually exist.