But, what if the gold does not exist? Can they still make the rules?
Here is a fascinating analysis of US gold reserve audits by Koos Jansen. It is well worth the read. The net is US “audits” of its gold horde are an illusion, and likely a conspiracy. Official USG audits are missing, assayers are unnamed and not independent. And the gold held by the NY Fed Reserve has never been properly audited and is now officially exempt from being audited. Coincidentally, the gold vaults at the NYFed are connected via an underground tunnel to 1 Chase Manhattan Plaza. Read this post by BullionStar gold researcher Ronan Manly for more information on the construction of the FRBNY vault and the connection to the vault across the street that was owned by JP Morgan, but recently bought by Fosun (October 2013), a Chinese investment conglomerate. How weird is that?