Treasury’s Audit of the Federal Reserve’s Gold Is Pure Propaganda
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
German Schoolchildren will Cook and Clean for â€śRefugeesâ€ť as Part of Work Experience
Schoolchildren from an undisclosed school in the city of LĂĽbeck, Schleswig-Holstein, will spend a week doing housework for so-called â€śrefugeesâ€ť.
The idea was sold to parents at a parentsâ€™ meeting as a â€śpractical internshipâ€ś, but has sparked outrage online.
A letter to the parents said their children will be going to â€śrefugeeâ€ť accommodations and will be making beds, sorting clothes, and ...
MTV: Saying "No Can Do" Or "Long Time No See" Is Racist
Harmless terms have offensive origins, asserts Franchesca Ramsey
According to MTV News, using the phrases “long time no see,” “peanut gallery” and “no can do” is offensive because the terms have “racist beginnings.”
Host Franchesca Ramsey begins by claiming that the term “peanut gallery” is offensive because it was once the place where black people were “forced” to sit at the theater ...
Migrants Dump Garbage from Their Balconies at German Asylum Center
German authorities expect up to 1.5 million asylum seekers to arrive in Germany this year – up from 750,000 last month.
So they can expect more of this–
Migrants Dump Garbage from their Balconies : Augsburg Asylum Center, Germany
In a recent poll, the number of “frightened” Germans jumped from 38% to 51% in three weeks.
Muslim Statistics reported, via Religion of Peace:
The latest ...
US Paradrops 50 Tons Of Ammo To Syrian Rebels
As we noted over the weekend, the US has now thrown in the towel on the ill-fated (and that’s putting it lightly) strategy of training Syrian fighters and sending them into battle only to be captured and killed by other Syrian fighters who the US also trained.
The Pentagon’s effort to recruit 5,400 properly “vetted” anti-ISIS rebels by the end of ...
Migrant Crisis stand-up routine - Sam Hyde
YouTube description: "Migrant" "Crisis" AKA Muslim Road Trip. Hundreds of thousands of astronauts, doctors, sciencemen, and peaceful clock inventors descend upon the countries with the most collective guilt and free stuff.
This was pretty good man... I wasn't expecting this reaction from the same Boston college audience who so thoroughly disapproved of my 'Mike Brown' routine. I think the invasion of ...
|More News » |