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Message: Did the US Sell Off Its Gold Last Year?

Did the US Sell Off Its Gold Last Year?

posted on Apr 17, 2010 03:11PM

Anyone here with a financial accounting background that can validate this person's interpretation of the March 2010 flow of funds report?

ESL

http://directorblue.blogspot.com/2010/04/feds-latest-flow-of-funds-report-did-us.html

Perusing the latest Federal Reserve Flow of Funds Report (PDF) released last month, tipster J.B. in Maryland noted something odd:

Page 24 line 14 reports sales of $190 billion of gold (6,000 tons, roughly), about three-fourths of our alleged domestic holdings. This occurred in the Third Quarter of 2009, over 6 months ago. This was very quietly done, as one might expect.


Line 14, in the section entitled "Net acquisition of financial assets" specifies a $-190.9 billion figure related to gold and similar investment commodities.

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