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What's going on at the world's largest gold vault?

by , 01 July 2014

At the Federal Reserve Bank in New York, the fifth subfloor hosts the largest gold vault in the world.

The vault is 25 metres below the street, and is made of steel and concrete. Protecting its entrance is a 90 ton steel cylinder. There are very few with security clearance that can enter.

But is there something afoot at the world's largest gold vault? Are the contents not exactly what everyone believes to be there?

Let's take a closer look at what could be going on…

The Federal Reserve’s vault is home to over a fifth of the world’s gold

The Federal Reserve’s gold vault in New York is houses over 20% of the gold in the world. Recently, large gold holders from all over the world are growing suspicious over the supposed gold contents there.

Recently the German government asked to view its gold contents at the vault, Simon Popple in The Right Side explains. The German government holds around half of its Berlin gold reserves there, some 1,536 tonnes.

German press reported that the Federal Reserve wouldn’t let the German inspectors in to check up on the gold. The officials at the vault said this was down to security and its control process.

The Federal Reserve is very slowly returning Germany’s gold

This cagey behaviour led the German government to decide to move some of its gold back to Germany. In response to this, the Federal Reserve said it would give back 674 tonnes over eight years. That amounts to around 84 tonnes a year.

Questions may be lingering over why the Federal Reserve needs eight years to return the gold. But it appears that to date, only five tonnes of gold has made it back to Germany!

With the US being the world’s largest holder of gold, 84 tonnes shouldn’t be hard to gather together and return to Germany. But it appears that it is for the Federal Reserve.

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This could suggest that something is awry at the world’s largest gold vault. Or perhaps the gold lies elsewhere.

This has also led some to suggest that the Federal Reserve’s gold vault doesn’t contain as much gold as some first thought.

Time will tell if indeed there is something going on at the largest gold vault.

So there you have it, why something could be going on at the world’s largest gold vault.



What's going on at the world's largest gold vault?
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