HAHAHAHAHAHAHAHAHAHAHaaaaa (hollow evil laughter)
The hurricane water surge has come and gone, devastating downtown New York, but one place, the one that represents the deepest hole burrowed south of Houston street and literally lies on the New York bedrock 80 feet below street level, is safe and sound. The place, of course, is where over 20% of the world’s
tungsten gold is stored. Especially that of Germany (wink wink). And Germany, whose central bank was recently caught in a series of official disclosure faux pas as described here in regards to its official gold holdings, can rest assured that nothing that hasn’t already happened to its gold, happened last night.
As the WSJ explains:
The Federal Reserve Bank of New York‘s downtown office remains open for business and unharmed by Hurricane Sandy, a bank spokesman said Tuesday.
The spokesman said the facility located on Liberty Street in lower Manhattan remains secure and suffered no flooding. The New York Fed is the U.S. central bank’s key point of contact with financial markets, and its castle-like construction is also the repository for a substantial amount of gold.
In other words, those who believe that the vault of the NY Fed contains over 20% of the world’s gold, can continue doing so.