Eric [Sprott] pointed out that the US government exported 30% of US annual gold production to Hong Kong in December alone, and stated that as there is no excess gold available in the US, all of his analysis suggests that the US gov’t may be exporting the German, Dutch, & Austrian gold reserves held at the NY Fed to China in an attempt to kick the can and forestall the inevitable financial collapse a little longer.
The Doc also asked Eric about the Treasury Department releasing the results of their 3 year audit of the Treasury’s 34,021 gold bars held at the NY Fed- particularly with the timing of the release only a month after the Bundesbank requested the repatriation of Germany’s gold, and whether the official denial by the Treasury department of any purity issues with it’s gold stored at the NY Fed in fact confirms our worst fears:
Well Doc, I read the so-called audit report. It really said they audited the schedule of holdings- which I don’t even know what that means, the schedule of holdings. What the NY Fed holds is a very small fraction of the total gold theoretically that’s owned by the US government, and in fact the gold held at the Fed might be German gold! The Germans might be surprised to find out there’s only 350 tons in the NY Fed and it’s all supposed to be theirs!
It was a sham, and it was another example of those who are attempting to mislead us as to what is going on, and there have been so many examples of things that are just not right and are totally misreported.