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
CIA torture is reason for France to exit NATO – Le Pen
The shocking revelations of CIA torture techniques give France a reason to exit NATO, National Front party leader Marine Le Pen said on Saturday. The report on the CIA’s former interrogation practices has drawn wide criticism since its release.
“If indeed everyone is outraged by the tortures used by the US then, let’s leave NATO,” Le Pen said during an interview ...
900 Documented Examples of Obama's Lawbreaking, Lying, Corruption, Cronyism, Hypocrisy & Waste
By Tim Brown from sonsoflibertymedia.com:
Our friend, Dan from Squirrel Hill, has updated his list to 900 documented examples of Barack Obama¡¯s lying, lawbreaking, corruption, cronyism, etc. He began with 252 examples, then quickly grew to 504 and later to 694. Recently, he added more than 200 more examples of the usurper-in-chief¡¯s unlawful acts.
Every President, every politician, and every human ...
A Step Closer to the Mysterious Origin of the Viking Sword Ulfberht
2014 12 16
The universe is full of mysteries that challenge our current knowledge. In "Beyond Science" Epoch Times collects stories about these strange phenomena to stimulate the imagination and open up previously undreamed of possibilities. Are they true? You decide.
Ulfberht was like a Medieval luxury brand for swords—but unlike your Gucci purse, the swords were of such high quality they were almost ...
Israel proposes natural gas pipeline to Southern Europe
Israel is pushing for the European Union (EU) to approve the construction of a pipeline running from the Middle Eastern country to supply Cyprus, Greece and Italy with natural gas. The proposed EastMed pipeline will carry gas from the Tamar and Leviathan gas fields located in the Mediterranean Sea, to Southern Europe. As the Times of Israel reported in an ...
As Robots Grow Smarter, American Workers Struggle to Keep Up
2014 12 16
A machine that administers sedatives recently began treating patients at a Seattle hospital. At a Silicon Valley hotel, a bellhop robot delivers items to people’s rooms. Last spring, a software algorithm wrote a breaking news article about an earthquake that The Los Angeles Times published.
Although fears that technology will displace jobs are at least as old as the Luddites, there ...
|More News » |