Gold researcher and GATA consultant Koos Jansen today disputes the New York Federal Reserve Bank's assertion that it returns to gold depositors the same gold bars they deposited and does this because "gold deposits are not considered fungible."
But of course it appears that the gold recently recovered from the New York Fed by the German Bundesbank had been melted and recast for some reason, and Jansen notes that the Netherlands central bank has asserted that in gold leasing by central banks the gold bars recovered are not necessarily the gold bars lent.
Perhaps more interesting in Jansen's commentary today is his noting the New York Fed's assertion that it does not charge storage fees to its foreign central bank gold depositors. Of course, as Jansen notes, ordinary gold vaults charge often very substantial storage fees to depositors. Could it be that custody of the gold of other nations involves control of their gold particularly and control of the gold price and currency markets generally and as such is worth infinitely more to the New York Fed and the U.S. government than the expense of vaulting?
Jansen's commentary is headlined "New York Federal Reserve Lying about Gold Storage" and it's posted at his Internet site, In Gold We Trust, here:
http://www.ingoldwetrust.ch/new-york-federal-...bout-gold-st...
