tag:blogger.com,1999:blog-11719208.post3393103707114802037..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Central banks and their goldTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-11719208.post-34398501286050847262007-04-20T06:51:00.000-07:002007-04-20T06:51:00.000-07:00Note that the "Fears over Treasury" article mentio...Note that the "Fears over Treasury" article mentions that a gold lease was nuked in the LTCM collapse. You don't hear about that often. 400 tonnes, up in smoke.<BR/><BR/>But it's ok; the bailout banks gave the Fed almost $4 billion in greenbacks to make up for it...Aaron Krownehttps://www.blogger.com/profile/10625220296615695247noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-25911008769074191322007-04-18T17:06:00.000-07:002007-04-18T17:06:00.000-07:00Yes, thanks for pointing that out.Yes, thanks for pointing that out.Timhttps://www.blogger.com/profile/16530974968126497397noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-42386200348868486492007-04-18T16:59:00.000-07:002007-04-18T16:59:00.000-07:00Tim,"For now, it's more than a little amusing to s...Tim,<BR/><BR/>"For now, it's more than a little amusing to see the powerful bankers of the world scrambling to find someone willing to part with some of their reserves so as not to embarrass the whole lot of them as the gold price soars during an era of low inflation."<BR/><BR/>Very savvy post. But shouldn't "low inflation" be in quotation marks?;-)Unknownhttps://www.blogger.com/profile/01116982781100202392noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-37814493737501795122007-04-18T16:03:00.000-07:002007-04-18T16:03:00.000-07:00In the last story, Greenie says"On May 20, Alan Gr...In the last story, Greenie says<BR/><BR/>"On May 20, Alan Greenspan, then chairman of the US Federal Reserve and the world’s most respected bank governor, said in response to Brown’s decision: “Gold still represents the ultimate form of payment in the world . . . Germany in 1944 could buy materials during the war only with gold. Fiat money paper [a technical term for legal tender] in extremis is accepted by nobody. Gold is always accepted.”Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-60933880625004274152007-04-18T15:42:00.000-07:002007-04-18T15:42:00.000-07:00According to Wikipedia:The United States Bullion D...According to Wikipedia:<BR/><BR/><I>The United States Bullion Depository holds approximately 4,570 tons of gold bullion. This is exceeded in the United States only by the Federal Reserve Bank of New York's underground vault in Manhattan, which holds approximately 5,000 tons of gold in trust for many foreign nations, central banks and official international organizations.</I><BR/><BR/>http://en.wikipedia.org/wiki/United_States_Bullion_DepositoryAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-34299196629991567302007-04-18T14:06:00.000-07:002007-04-18T14:06:00.000-07:00I wonder how many people in the world actually kno...I wonder how many people in the world actually know how much gold the US has. I can't imagine its too many.Anonymousnoreply@blogger.com