[QUOTE=Skol;359086]Yes but the FED's gold I understand is mostly owned by other countries i.e Germany where the Fort Knox is where nearly all of the USA gold reserves are meant to be stored
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[QUOTE=JBmurc;359093]Not sure if this is much help JB, but an idea about where the big gold holdings are, in theory...http://www.wealthdaily.com/articles/...rlds-gold/2491
JB, you are correct about the NY Fed reserve bank.
Don't look now Skol, you might halt Gold going through $1700 again overnight:). Heck, I thought you said it was on the way down. Lots of USA bank quarterlies coming out soon.Quote:
33 Liberty StreetMain article: 33 Liberty Street
A public competition for design of the building was held and the architectural firm of York and Sawyer submitted the winning design. The bank moved to its current location in 1924. The Federal Reserve Bank of New York maintains a vault that lies 80 feet below street level and 50 feet below sea level, resting on Manhattan bedrock. By 1927, the vault contained ten percent of the world's official gold reserves. Currently, it is reputedly the largest gold repository in the world (though this cannot be confirmed as Swiss banks do not report their gold stocks) and holds approximately 7,000 metric tons of gold bullion ($415 billion as of October 2011), more than Fort Knox. The gold is owned by many foreign nations, central banks and international organizations such as the IMF. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it stores at no charge to the owners, but charging a 1.75$ (in 2008) per bar to move the gold. Moving the bars requires special footwear for the staff, to protect their feet in the case that they drop a 28 pound bar on their feet. The vault is open to tourists.
Have a look at this long (mainly text) video from Martin Weiss, Weiss Research. Not a pretty story for the USA. A lot of compelling facts there. The link with this thread: Martin recommends some gold holdings as a buffer/savings plan insulated from inflation, even gold coins. http://finance.moneyandmarkets.com/r...ZACS&e=4424110
And many Goldies ann reports-- I see RMS (372mill Mrktcap) have made a nice 62mill Nett profit average Gold price sold in 1300's...
have been buying more Gold/silver producers or soon to be producers a no brainer when you see the growth of nett profits shouldn't be long before many can afford special payout divvies as their cash balances grow expontial higher like RMS (which paid out 7cps)
RMS - sooner you than me. Look at the chart, gold's going nowhere and the smart money knows it.
Gold down again.
Stockmarkets done nothing for 10 years.
Property shredded for 6 years.
Gold and silver up for 10 years.
Where do you think the best chances of making money are JB?
Well making 100%+ growth like I target each Fin Year I'd recommend Buying undervalued Shares in Precious metal producers that have low costs per oz an good exploration grounds to increase life of production an soon to be producers, Also like out of favour Rare earth-U308 with large growing JORC resources...
Overall see better growth in Sharemarkets than property over the next decade IMHO
Bullion a much longer term investment 5yrs min with Silver my favourite over the next decade growth wise.
Looks we won't be running out of gold anytime soon.
http://www.nzherald.co.nz/world/news...ectid=10760057
Allah is not smiling on the gold companies. RMS -.025, OGC -.16 and NCM -.98.
In the meantime Dow up 180.
Egypt has 6.7Moz of gold in 100 mining sites? Average of 67,000 oz per mine? That's not enough to get excited about Skol. Glass Earth has shares in a permit above Waihi that might contain 3-5Moz, and no-one is rushing to buy them out, even though it is the biggest NZ find in 20 years. To mine for gold, you need very large concentrated patches for larger firms to get keen.
Did you watch/read that video I posted the other day? Scary stuff. I'm sitting here in my fortress in the back of beyond (Hamilton), ready to ride it out.