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Treasury Is Auditing the Government’s Gold. Ho, Ho, Ho.

Written by Gary North on August 6, 2012

The U.S. Treasury, which has not conducted an audit of the nation’s gold since 1954, decided to do an audit of the gold stored at the New York Federal Reserve Bank, a private corporation.

This of course had nothing to do with the fact that the House of Representatives finally has demanded an audit — Ron Paul’s bill. No, no, no: the audit began last January. The Treasury had no idea that the House might demand an audit. It’s just that the Treasury decided to do an audit, just like t said it did in 1954.

There is no report yet. Maybe by the end of the year.

An audit, if valid, will cover the history of the ownership of the gold in the NY FED’s vaults. Who owns it? What claims are held against it? This would have to go back to 1954 and move forward. We will see if this is done.

The Treasury is officially the owner of the gold. If any gold is missing, the Treasury will get blamed for malfeasance going back to 1954. This means that the Treasury has an incentive to avoid finding out if any gold is missing.

The right strategy for the Treasury would be to drill bars of gold and to count them. The goal would also be not to follow ownership. That would mean following the money.

Why is the Treasury doing this? Could it be to head off Ron Paul’s bill> How? By saying, “It’s not necessary. We have conducted a full audit.” A full audit requires tracing 60 years of ownership. Let’s see if the Treasury does this. Let’s see if this paper trail is released to the Congress for substantiation. Let’s see if the Treasury’s audit is followed by an audit by the Government Accounting Organization (the GAO).

Continue Reading on www.latimes.com

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4 thoughts on “Treasury Is Auditing the Government’s Gold. Ho, Ho, Ho.

  1. The fox is still in charge of guarding the hen house. What a farce this audit id going to be,

  2. max rostow says:

    Don't you people ever give up your extremely cynical, hatred of government? And you call yourselves Christians? Absolutely unbelievable!

  3. As Christians, we're realistic about what is in man. Since government is merely collective man, we harbor no illusions about what to expect. But it's really worse than that. Government is collective man, with all of mankind's flaws, but given god-like powers, and rendered mostly exempt from accountability (at least in this life). It therefore becomes, for us, a much larger-than-life drama where all the human follies are portrayed in truly Herculean dimensions. It is at the same time laughable and distressing.

  4. Bo Johanson says:

    David, there is no ideological basis for your anti-government position. Jesus never opposed government, He said His kingdom is not of this world. Paul in Romans 13 and elsewhere spoke about the mandate for supporting government. I suggest you and Dr. North as well as the other tea partiers look at their own wicked hearts instead of pointing their fingers at others…