The Fed has $300 Billion in Gold, Rickards' Latest Book Reveals - PART 1

Best-selling author Jim Rickards joins Kitco News to discuss his latest book, The New Case for Gold which looks at the role of the metal in today’s monetary system. Rickards makes the case for the metal and comes to its defense against well-known critics such as Warren Buffet often referring to gold as a relic. The author also discusses his discovery in the Federal Reserve’s balance sheet, revealing massive amounts of gold at Fort Knox and West Point worth $300 billion. The best-selling author of Currency Wars and The Death of Money, explains that the Fed does not want to be audited to avoid drawing attention to gold and to downplay the role of the metal. "The confidence of the entire global system of finance rests on the U.S. dollar. Confidence in the dollar rests on the solvency of the Fed's balance sheet. And that solvency rests on a thin sliver of… gold. This is not a fact anyone at the Fed wants to acknowledge or discuss, " Rickards’ new book suggests. (show less)

Best-selling author Jim Rickards joins Kitco News to discuss his latest book, The New Case for Gold which looks at the role of the metal in today’s monetary system. Rickards makes the case for the metal and comes to its defense against well-known critics such as Warren Buffet often referring to gold as a relic. The author also discusses his discovery in the Federal Reserve’s balance sheet, revealing massive amounts of gold at Fort Knox and West Point worth $300 ... (read more)

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