The United States does not allow anyone to see their gold reserves. Although there are billions in gold, which the Treasury guarantees about, it is not possible to trade with them.
Ronan Menley, director of a brokering company, warns about this.
He claims that the US government owns 8133.5 tons of gold in supplies. 58 percent are reportedly stored in Kentucky, 20 percent in New York, 16 percent recently in Denver, Colorado, and five percent are kept by the FED.
“The whole story about the gold reserves of the United States is secret. There has never been an independent review of their gold reserves. And guardians of the gold, like the federal reserves, will never allow anyone to enter the vault and count it. If it is there at all,” said Menley, reports RT.
Despite the numerous accusations against the American Treasury that there is much less gold than claimed, there is another reason for such a mystery, says this expert – “US gold is of poor quality.”
“Even small quantities that sporadically appear, show that larger amounts of golden halves are not clean and are not of proper weight,” says Menley.
“This means that even if the United States has the amount of gold they claim to own, much of that gold will not be eligible for trade on the international market and can be of use for some manipulative purposes,” he adds.
If it’s proved that gold reserves are less than they are, crisis in the world economy would again be created. Although it will not directly hit the US dollar, the consequences of this would be significant.
Firstly, this creates pressure as it is necessary to revise the gold reserves held by other states in America.
Also, a question arises as to the reserves of Russia and China. And one can raise the question of the role of gold in the international monetary system, he argues.
“That’s something that the US government is constantly trying to avoid,” says this expert.