Robert Wenzel, editor of Economic Policy Journal, today notes the phoniness and irrelevance of the audit supposedly undertaken recently of gold at the Federal Reserve Bank of New York, reported today by the Los Angeles Times:
"This audit was designed to confuse," Wenzel writes. "Expect more stories about how the Treasury Department conducted an audit of U.S. gold. Not true. Gold at Fort Knox, where America's gold supposedly sits, is off-limits to all and has never been audited."
Wenzel's commentary is headlined "Get Ready for Some Major Disinformation about America's Gold" and it's posted at Economic Policy Journal here: