Treasury’s Audit of the Federal Reserve’s Gold Is Pure Propaganda
2013-02-20 0:00

By Lee Rogers | BlacklistedNews


The U.S. Treasury just released a new report claiming to have performed an audit of U.S. gold held by the Federal Reserve. To be blunt, the report is a complete joke. The report says that the Treasury’s Office of Inspector General performed an audit of the U.S. Treasury’s schedule of U.S. gold reserves held by the Federal Reserve. In other words the report states that they performed an audit of a paper trail and not the actual gold itself. What good is this so-called audit if all they did was check some numbers listed on a schedule? There is little doubt that this report is part of a deliberate disinformation campaign to mislead people into believing that a real audit of U.S. gold reserves was performed.

This is a direct quote from the Treasury’s report stating that they audited a schedule.

We have audited the accompanying Department of the Treasury’s Schedule of United States Gold Reserves Held by Federal Reserve Banks as of September 30, 2012 (the Schedule). This report presents our unqualified opinion on this Schedule.

In fact the entire section dedicated to describing the scope of the audit only mentions auditing and confirming that the numbers in the schedule are correct. There is nothing in the report that talks about a physical audit of the gold itself so even calling this an audit is generous at best.

As expected their opinion on the schedule claims that nothing is wrong and that the general public should assume that everything is fine with the gold reserves. Here’s the full opinion from the Treasury Inspector General as stated in the report.

In our opinion, the accompanying Schedule presents fairly, in all material respects, the balance of the Department of the Treasury’s United States Gold Reserves Held by Federal Reserve Banks as of September 30, 2012, in conformity with U.S. generally accepted accounting principles.

What’s really strange about this is that there are reports from the Los Angeles Times and other news outlets quoting some mystery representative from the Treasury’s Office of Inspector General who says that they spent time counting and testing the purity of the gold bars held by the Fed. The mystery representative even goes on to claim that three of the gold bars they tested were of higher purity than they originally thought. Specifically, the Los Angeles Times report says that weeks were spent counting and testing the gold. If they spent all of this time doing this than why is there no reference to these activities listed in the report? One would think that it would be important to mention these things if a real accounting of the gold took place. Most likely however, these statements from this unnamed source are either grossly exaggerated or outright lies.

The vast majority of U.S. gold is not held by the Fed but elsewhere in places like Fort Knox and Denver. So even if we assume that this was a legitimate audit, the Treasury’s report fails to account for most of the gold reserves. What good is this report if it only examined a small fraction of the aggregate total of gold?

[...]

Read the full article at: blacklistednews.com



Related Articles
Dollar Collapse: Where is Germany’s Gold?
Germany Repatriating Gold from the New York Federal Reserve
Gold bars that can be used as emergency payment
Uh Oh: Germany Wants to SEE its US Gold


Latest News from our Front Page

The Jewish Roots of Leonard Nimoy and What the ‘Live Long and Prosper’ Hand Symbol Really Means
2015-02-28 0:20
Leonard Nimoy first saw what became the famous Vulcan salute, “live long and prosper,” as a child, long before “Star Trek” even existed. The placement of the hands comes from a childhood memory, of an Orthodox Jewish synagogue service in Boston. The man who would play Spock saw the gesture as part of a blessing, and it never left him. “Something ...
Baby born still INSIDE his amniotic sac is hailed a ‘medical miracle’ by doctors [Video]
2015-02-27 22:46
What an incredible miracle… Not only was the little boy three months early – he was born inside his amniotic sac. I’ve never heard of this happening before. If you look at the picture, you can see him clearly with his little arms and legs curled up. He was still being given oxygen by his mom until the sac was ...
California Infant Dies after 8 Vaccines, Family Gets Him Back from Hospital Cremated
2015-02-27 21:55
Parents in California are distraught after losing their infant son after being vaccinated. He died in his sleep and was taken to the hospital already deceased. Hospital staff ruled his death as sudden infant death syndrome. The couple was told an autopsy was required to be performed on their son. After returning home, waiting to get an update, they never received ...
DNA: Data-storage for eternity
2015-02-27 20:57
How can we preserve our knowledge today for the next millennia? ETH researchers have found a way to store information in the form of DNA, preserving it for nearly an eternity. Scrolls thousands of years old provide us with a glimpse into long-forgotten cultures and the knowledge of our ancestors. In this digital era, in contrast, a large part of our ...
Hypercleanliness is making us sick - Children develop allergies and eczema
2015-02-27 20:31
Could using a dishwashing machine increase the chances your child will develop allergies? That's what some provocative new research suggests — but don't tear out your machine just yet. The study involved 1,029 Swedish children (ages 7 or 8) and found that those whose parents said they mostly wash the family's dishes by hand were significantly less likely to develop eczema, ...
More News »