Well now the favorite psuedo-congnoscenti blog of the market hoi polloi, Zerohedge.com, presents this:
Forget the LBMA and the threat of physical dilution - a much more relevant question is just how much of the alleged US gold holdings of 8133.5 tonnes is actually real. Surely, the question of just how much gold is there below the HSBC building in New York's Bryant Park, and below the FRBNY has never been more relevant.Here's a link to the entire story: LINK
Those of us who have been thoroughly studying the precious metals market over the last decade have understood for many years that the U.S. Government, via the complex web of swap and lease transactions implemented by the Fed, has depleted most, if not all, of its gold reserve. And if Zerohedge knew what it ws talking about, it would know that the bulk of the supposed stock of U.S. gold was moved into "deep storage" at West Point several years ago, safely removed from sight and audit.
If the courts would ever uphold GATA's Freedom Of Information Act request and force the Fed to release all of the related documents that the Fed refuses to release, we would be able to get to The Golden Truth of this issue. For now, it's nothing but a joke, as our policy makers - and Obama himself - make a complete mockery of Obama's promise to make Government more transparent.