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Discussion » Statements » Rosie's Corner » Ever hear of ANY country TRUSTING another country enough to hold all its gold? An Anermug friend informed me that is the case. WEIRD?
RosieG

Ever hear of ANY country TRUSTING another country enough to hold all its gold? An Anermug friend informed me that is the case. WEIRD?

So I guess England holds all the Venezuelan gold for safekeeping.

Any other countries do similar things? Another mind-boggling bit of info.

Posted - May 24, 2020
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Responses


  • 44714
    We do:

    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 tonnes (7,700 short tons) of gold bullion ($415 billion as of October 2011), more than Fort Knox. Nearly 98% of the gold at the Federal Reserve Bank of New York is owned by the central banks of foreign nations. The rest is owned by the United States 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 fee (in 2008) per bar to move the gold.


      May 24, 2020 6:17 AM MDT
    1

  • 113301
    OMG E. Really? I had no idea. Sounds screwy looiey to me. Thank you for your informative reply and the photo of gold bars. Has anyone ever tried to hold up Fort Knox? I shall ask.
      May 24, 2020 6:22 AM MDT
    0