Treasury's Audit of the Federal Reserve's Gold Is Pure Propaganda

Vatic Note:  Whenever you contract out with someone resulting in hard asset involvement, you have to quality control and inventory those assets.  Example is military weaponry.  Each shipment is not only matched against the bill of Laden, but also against the contract specifics to see if the product is part of the original order, and the specs are accurate.  Well, that is what should have been done with doing a "Quality control" and audit on our gold.

They did not.... they only did a paper audit saying the "paper work"  meets with the standards set.  Not a word about any random selection of gold bars to test for other metals, or anything, no count of the bars to make sure the number matches what is listed on the paper work, otherwise its not an audit etc.  So, its just another farce.  I bet this is the case with everyone else on the planet. All countries have their gold stored with international banks, by golly, they better do an audit.... we can see that is the only way to find out if  you still own your gold.  We and poor Germany found  out the hard way.

Needless to say GERMANY is not a happy camper.  They ordered only 300 of their 1000 pounds of gold stored in the Fed Reserve and they were turned down  and they were told they could redeem that 300 over 7 years, can you believe it?  So, we have no  clue what we have and whether its real gold.   The reason Germany ordered their gold is because they were settling with another country who received previous gold and it was found out to be tungsten painted in gold, so the scam is up.

Now, keep in mind, that almost all the news they are pumping out is horrible and "FEARFUL" and they absolutely must have you react to it before they get arrested for theft and a slew of other crimes that could include murder, so do not react violently.  Yes, definitely prepare, join a good militia, train, practice, and stock up on ammo, but do nothing else "UP FRONT" and "IN THE OPEN" or else they will be calling for martial law to collect the guns.  I can't say anything about your right to do what you want secretly and privately, now can I?  It is beginning to look like they did it because of the arrival of Planet X.

The Mayans say its nothing to fear, its the return of the Ancestors and wisemen.  We will see.  I hope the mayans are right, but food and water, especially water is the key.   As we can see there is very little water left.  So hurry up.  Do what you can, find someone with a well, since underground water should still be OK.  Its from a different source.   Phew, Lots going on right now.  Remain vigilant.


Treasury's Audit of the Federal Reserve's Gold Is Pure Propaganda
http://www.blacklistednews.com/Treasury%27s_Audit_of_the_Federal_Reserve%27s_Gold_Is_Pure_Propaganda/24334/0/38/38/Y/M.html
by Admin,  Blacklisted News
February 19, 2013

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?

In order to get a real handle on what’s going on with these gold reserves, a true independent audit needs to be performed. Can anyone really expect an institution that has been as historically dishonest as the U.S. government to be able to police itself and offer any sort of transparency? Even the White House press corps is starting to complain about the lack of transparency from the Obama regime and this is coming from some of the most biased so-called journalists on the entire planet. To top it all off this is happening while Obama boasts that he is running the most transparent government in the history of the country. This is a total lie, because honesty and transparency from the U.S. government does not exist presently.

To put it mildly, this so-called audit is almost as ridiculous as the Queen of England inspecting the Bank of England’s gold reserves a few months back. With bogus propaganda stunts like these it is no wonder why Germany is now demanding physical delivery of their gold from the Fed and other central banks. Unfortunately for Germany it is going to take until the year 2020 for them to get roughly half of their gold. Meanwhile the Chinese are buying huge amounts of gold on the open market comparable to what Germany is requesting and the Chinese are having no logistical difficulties in obtaining immediate delivery. If all of the gold reserves were fully accounted for and no funny business was taking place, Germany should have been able to receive their gold in a matter of months not years.

There’s not much else to say about this so-called audit of the Fed’s gold reserves. It is total garbage on so many different levels and shows once again that the U.S. government is afraid to conduct a true independent audit of the gold reserves.
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