I mean, it’s one thing for someone like Glenn Beck to be looking askance at the difficulty that Germany has had over the last year in repatriating a small portion of its gold reserves from the vault of the New York Fed in the video below, but it’s quite another for one of the world’s most respected financial news organizations to be doing the same thing.
From the Financial Times:
In the “armchair farmer” fraud you are told: “Look, this is your pig, in the sty.” It works until everyone wants physical delivery of their pig, which is why Buba’s move last year caused such a stir. After all nobody knows whether there are really 260m ounces of gold in Fort Knox, because the US government won’t let auditors inside.
“Won’t let the auditors inside”? That sounds a lot like Mr. Beck.