by Dave Kranzler, Investment Research Dynamics:

CPM Group’s Jeffrey Christian did a Youtube podcast in which he mocked the view that most if not all of the gold in “Ft Knox” has been used by the Fed and the U.S. Treasury to help control the price of gold since the late 1960’s (London Gold Pool).  The best proof those of us who are convinced that the Treasury’s gold plus an unknown quantity of gold held of behalf of foreign Central Banks has been hypothecated in the Fed’s effort to suppress the gold price is two-fold:  1) Contrary to Christian’s claim, there has not been a bona fide, independent audit of the Fed’s gold holdings since Eisenhower was the President: 2) the U.S. flinched, embarrassingly, when Germany requested the repatriation of half of the gold the Fed has “safekept” for Germany since the end of WW2; the U.S. balked then eventually agree to return 300 tonnes of the custodied gold, or 20% over seven years. Why not in just a couple of months similar to Venezuela’s repatriation of 200 tonnes of gold the prior year?