xrpgord

Where is the worlds gold stored? With World War ll just started the nations of the world turned to the US to store it’s gold. But Fort Knox is only for US Gold ?

Fort Knox built in 1932, a marvel of engineering and security. The depository is currently the most secure facility. Between its fenced perimeter and granite lined concrete structure are rings of razor wire and minefields. The grounds are monitored by high-resolution night vision video cameras and microphones. The subterranean vault is made of steel plates, I-beams and cylinders encased in concrete. Its torch-and-drill resistant door is 21 inches (53 cm) thick, YES ALMOST TWO FEET THICK and weighs 20 TONS. The vault door is set on a 100-hour time lock, and can only be opened by members of the depository staff who must dial separate combinations. It takes 10 men to open the door not because of the weight of the door but because of all the actions that must be performed at once to open the door. It is so secure that the term “as safe as Fort Knox” has become a metaphor for safety and security.

Visitors are not allowed inside and even the President of the United States, the highest office in the USA is denied access to Fort Knox. Only one president has even been allowed inside the vault, that president was Franklin Roosevelt.

Fort Knox began losing its luster or usefulness when the United States went off the gold standard in 1971 and from that day inflation and dollar value has been declining ever since. Before that, gold bars packed into a secure vault gave people faith in the country’s currency. Today, Fort Knox’s gold is nothing more than an asset on the Federal Reserve’s balance sheet, no longer a key integral part of the United States monetary system. But don’t let that fool you there is still gold in Fort Knox. But how much gold ?

As of 31 July 2020, Fort Knox holds close to 150 million ounces of gold reserves with a current value 295 BILLION USD today. The highest historic gold holdings of Fort Knox was 649.6 million ounces In December of 1941 over 4X the current amount. But if the little Kentucky vault holds 56% of the gold in the US then where is the rest? Well to answer that we need to go to Wall Street and THE FEDERAL RESERVE BANK

Located under the streets of New York, Deep Deep below the streets of Wall Street. How deep ? The current vault constructed in 1920’s sits 80 feet below street level and 50 feet below sea level. Wow that is deep, the vault is so impenetrable that 3 personal have access to the vault and all 3 have to be there when the doors open. Even to change a light bulb .

How many people does it take to change a lightbulb in the federal reserve?

4 – two members of the New York Fed gold vault staff and one member from the New York Fed internal audit staff. Plus one maintenance personal. Now that’s an expensive light bulb !

The federal reserve bank (FRB) security measures are so trusted that even foreign governments use it for their gold storage. How much gold is in the federal reserve? Well a lot, 192 million ounces to be exact. Valued at almost 375 BILLION USD. Not all the gold is US owned but US protected in this 8 story deep vault. Each nation’s gold is verified upon entry and stored in its own sub vault, located in the main vault. No co-mingling of gold insures the bars you brought in are the bars that leave. No personal gold storage, only nations are allowed to store there physical gold in the FRB. Unlike the Federal Reserve,the gold located in Fort Knox is 100% US owned also I should state the US owns the most gold in the world followed by Germany.

Will Nation’s of the world 🌎 who store their gold in the federal reserve ever remove it from the vault? With the current status of the world, would the US not let them take it ? Would the countries want the gold in their own possession? In Canada if the world goes to a gold backed currency we are not in a good position with our current gold holdings.

If your a subscriber check out how this story ends and how much GOLD Canada 🇨🇦 has ! if not skip your bagel today and pay $5 to sign up for Coil HERE. So many great creators to browse and you also get to check out Cinnamon Video !!

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