Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vault
Imagine you rent a safety deposit box at the bank, into which you put your gold coins, jewelry, and so forth. You go to take it out and the bank tells you they cannot let you remove your gold and jewelry for 8 years! Then you ask if you can at least count the gold coins and verify the jewelery is present and are refused, and shown one gold coin and a bracelet from a distance.
Now you understand why the Germans are concerned.
The Germans did not open a savings account with the Federal Reserve. They stored much of their nation's gold bullion, stamped with the German logo and numbered, in those vaults for safe-keeping, exactly the same as when you trust your gold and silver coins to a safety deposit box at the bank. Now the Fed has sent back a tiny fraction of gold to Germany, but it is not the original stamped and numbered bars, but recast bars, which according to Glenn Beck are only 90% pure. This is like your bank handing you a cheap piece of costume jewelry and saying, "Well, it isn't your grandmother's gold bracelet, but it IS a bracelet and you should be happy with that!