Treasury’s Audit of the Federal Reserve’s Gold Is Pure Propaganda
2013 02 20
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
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
Space Elevator By 2035, Says International Academy of Astronautics
2014 03 10
Going up? Way up?
The space elevator - An idea which used to be pure speculative science fiction has gained renewed interest.
ExtremeTech.com lays out the technical challenges of the audacious (crazy?) plan to extend the 100,000-kilometers-long tether into space. Especially problematic to the mission is the fact that the materials and technology needed to create the space elevator don’t actually exist ...
One million Britons descended from Vikings says new study
2014 03 10
A new study is showing that approximately 930,000 people can claim to be of direct Viking descent in Great Britain today, especially in the north of Scotland. The ancient Norse peoples’ influence is still being felt in modern times.
Around one million Britons are directly related to Vikings, with people from the north of Scotland most likely to have Viking ...
Oil Slicks Found Off Malaysia’s Coast Not From Missing Plane
2014 03 10
The search for the Malaysia Airlines flight which mysteriously vanished (and was presumed crashed) deepens.
The flight disappeared off radar March 8, with 239 people on board, losing contact with ground control. It was presumed lost somewhere along it’s flight path between Vietnam and Malaysia.
Over the weekend, officials had reported seeing oil slicks and a single piece of debris ...
Nigel Farage (UKIP) Speech on the EU, UK & Mass Immigration
2014 03 08
UKIP Nigel Farage Spring Conference speech - 2014
Red Ice Radio:
Nigel Farage MEP - The State of the EU & The Undemocratic Treaty of Lisbon
Labour wins UK by-election as Ukip trumps Tories
The ruling coalition in the UK was dealt a blow in the latest by-election test, as the UK Independence party pushed the Conservatives and Liberal Democrats into third and fourth ...
Pentagon studying Putin’s body language to predict his behavior
2014 03 07
The Pentagon has spent hundreds of thousands of dollars in recent years so that researchers can study the body movements of foreign leaders, including Russian President Vladimir Putin, in hopes of predicting future behavior.
An article published by USA Today reporter Ray Locker on Thursday and corroborated by documents discovered by RT provides rare insight into a scarcely-discussed military effort that ...
|More News » |